Proof Cambrian Owns 9% UMC Energy (Link ok)Calabinvest,
Pinetree has taken a beating, because of its Uranium focus and in general because many juniors are down.
What’s important is that, Pinetree is still buying Cline up the market, even thou it can not easy liquidate out of Cline. This is very telling.
I missed the statement about Gordon Gromley in Clines annual financials, that were issued end February 2008, well after I called the company. When I read the annuals, I focused on the project data and cash in the bank, the rest I glanced.
Probably it is a good indication that Gromley has left. I believe this indicates Cline is moving forward with a plan or will be forced into a restructure plan. Either is good for me.
As I have said before, its next to impossible for Cline in its present structure, to move forward on all projects and get full value for them.
We can rest assured that, Pinetree wants full value. Cline needs to restructure into a mining house or amalgamate into another mining house. Something along these lines. Maybe Pinetree will step up and do it.
Regardless of everything, Clines Iron project is of substantial value and it could eclipse everything else as the big sole driver.
The Uranium project will start drilling soon and I suspect Cline will coordinate this with the Iron project.
The following link, is for the recent Cambrian PLC presentation, page 29 shows that Cambrian owns 9% of UMC Energy.
https://www.cambrianmining.com/Investors/Presentations/Cambrian_Mining_Presentation_-_September/News.aspx?id=700
Launch Cambrian Mining Presentation
It appears that UMC Energy and Cambrian operate out of the same office block
11 Albemarle Street and 27 Albemarle Street London UK.
It appears Cline and Cambrian must be talking about UMC Energy. Cambrian must know about Clines Iron project.
Cambrian is a large shareholder 44% in Western Canadian Coal (WTN), and so is Mitsui Matsushima 4.5% (Ken Bates).
Cambrian knows that Clines coal assets are close to Western Canadian and they could share the same process plant and load out facilities, in both the North East and South East coal fields. Clines coal assets would be very valuable to WTN, because they can be produced without further capital cost for plant equipment.
Maybe Pinetree is not so stupid after all.
MP