Cline Mining Corporation T.CMK

Children of a lesser God?

[bond46]

On Dec 03 Mr Goldfarb the "restructuring officer" called in the troops for protection against the menacing creditors who wanted to break apart his kingdom and parcel out the proceeds among themselves. Really? He then then put the company under court protection that the CCAA affords in these situations. CCAA is the Copanies' Creditors Arrangement Act. The reasons given is that the company needs "recapitalization" in order to survive and thrive if met coal turns around. At the same time he is telling us that all old shares will be canceled and new ones will be issued to the creditors. He does not say anything about the current shareholders getting any new shares. Yet he is worried about the future of the company. But who is the company? Is not the shareholders who put their money in it? Or the company is only the legal person called CMK i.e., an abstract entity? And if so, why bother at all applying for protection? Someone must have an interest in it. And who that would be? Marret and the creditors! Not the shareholders. What Mr Goldfarb and his acolytes are doing is they are protecting their masters, the creditors, who appointed them on the Board and not the current shareholders. For it is only common sense that if the shareholders have no interest in the company now or in the futures, why not let the creditors take the company to bankruptcy, ie., liquidation? Because that would not be to their own interest for they would not be sure they would get their money. It is that simple. So it's better for them to go through the CCAA and get their money. And Mr Goldfarb is more than willing to comply with his master voice rather than the current shareholders, who did not elect him on the Board to begin with. But I hope the Court will view things otherwise and allow the current shareholders to have a say in the current proceedings and even allow for part of the newly issued shares to go to the current shareholders on a proportional basis despite Mr. Goldgarb's wishes and his Masters'. The shareholders card is to ask the Court to liquidate the company and come what it may, pure and simple. We'll see what will be in the Monitor's Plan.The current shareholders are not the children of a lesser God, they are the ones who built this company.

[Johntrades]

I agree that this recapitalizaion of Cline Mining should include the shareholders like myself that have helped the company succeed in the past.... We should recieve shares of the new company and if not we should argue this in court with a class action lawsuit.....

[SamuelSamuelSam]

Hello, I am new to the board and would like to know if anything has been decided yet on where the company is headed? Basically, are the SH screwed?

[nrv0909]

It's over all is lost. Use it as a write off. Invest in MNH, great stock