Post by
bond46 on Jun 03, 2013 10:09am
Great Move
Great move Mark Haywood, keep up the good work. Cline mining will have a great future under the new leadership. The cancelation of the recap agreement is great news for the small shaeholders and dillution is no longer an issue. That means the new leadership has something good up their sleeves for they must have secured new sources of financing to pay off Marret and stop the bond conversion into billions of shares thus wiping out the small shareholder. All we have to do is wait and see how Cline under the new leadership are planning to secure financing and paying off Marret thus saving the day. I am very excited at the prospects. Great news Mark Haywood, keep up the great work.And Marret must have agreed to the concellation of the recap agreement because they don't want to get in the coal business, first, and second, if the current shareholders would not exercise the Rights offering, Marret as the Stand-by Purchasers would have to come up with 35million shares for securing working capital for Cline, a stiff price to pay for Marret to keep Cline as a going concern. If Cline could sell some assets, sign an off take agreement or form a joint venture with another coal comapany, it would resolve the recap issue and Marret would get their money and go and there would be no ditution. Great news, you guys.
Comment by
ark88 on Jun 03, 2013 10:37am
With this news, risk capital and volatility should return.