Cline Mining Corporation T.CMK

Will Marret get stuck with CMK

[bond46]

In case Portpool Investment backs out ot the deal, what is next? Marret steps in and becomes the new owner of Cline. The question now is will Marret get in the met coal business or will sell the company for a song and get its money and go? The Marret Plan allows for a 3-yeas period of care and maintenance and also allows for providing financing in case Cline signs sales contracts and starts up production. If that is so, we can expect changes in Cline management and the takeover by the Marret people. Hence the dual role Haywood and Tobin were brought in to play, as negotiators and also as future CEO and Chairman respectively. Whatever will be will be, at this point one becomes cynical and hopes not to see or hear of the Bates entourage ever in the future. What I am afraid of is since Portpool Investments lack the know how in running a mine, they will have to rely on Haywood and Tobin and they may not keep on Bates. And this may be a drawback and force them to back out of the deal. hope  I am wrong again.

[summer22]

The delay till Wednesday should not come as a surprise!!  We all know that any dealings involving Cline have been a mystery and essentially delayed till the 11th hour.  Portpool Investment knows there is value in Cline, otherwise would not of stepped in with their offer.  They will require certain key people to be on board, to offer first hand knowledge in operating the mine.  

[robd27]

This the the strangest deal I have ever seen.  Usually any business transaction in order to confirm the deal a deposit is given and held in trust by the lawyers until closing date.  I never heard of a deal in which there is a deadline for the deposit.  There is no risk of losing anything for Portpool Investments which is poor business practice on Cline's part.   Marret

[bond46]

The peculiarity of the situation has to do with the Marret Plan and the ineptitude of Bates and co to take prompt action before reaching the point of interest default on the bond holders. The prospective buyers could have been sought out before Cline defaults on the bonds. When Marret stuck a gun on their heads, they started looking for solutions to "maximaze shareholder's value"