RE: Ken sold - Insider Trading? Smokescreen?If you read the actual Mitsui Matsushima Co., Ltd. Release it gives more information, especially about Thyssen selling Mitsui Matsushima its European & South American Marketing for Cline Coal Resources.
It also says the initial sale occured July 4th, 1 day after Ken Bates sold shares on July 3, 2008.
Here is the reasoning;
1. Thyssen Krupp had European and South American Marketing rights to Cline Coal Reserves.
2. On June 23, 2008 Cline announced the Mitsui loan MOA and in it it stated ;
"The memorandum of understanding also provides that Cline and MMI will enter into a coal marketing and sales agency agreement under which MMI will be the
exclusive marketing and sales agent worldwide with respect to the sale of all New Elk coals."
3. According to the Sedar Early Warning Report and the Mitsui Matsushima Report the agreement was made June 13, 2008 between Mitsui Matsushima and Thyssen Krupp.
4. If Cline & Bates did not know Thyssen was selling it shares and Thyssen had Europen & South American Marketing rights to Cline's Coal, then how on June 23, 2008 could they announce in that Memorandum of Understanding that Mitsui would get worldwide marketing rights?
5. On July 4, 2000 Mitsui makes its initial purchase of shares from Thyssen at $1.41.
6. Coincidentally Ken Bates sells 50,000 shares of CMK 1 day before the initial purchase of 4.4m of the shares.
Was the whole 19 million dollar loan a smokescreen for the fact that Thyssen was getting out and selling its marketing rights to Mitsui?
Read the following Mitsui Release. Strange how much more information it it has on the sale of the Marketing rights for Mitsui in it.
https://www.irstreet.com/en/document.php?brand=128&document_url=http%3A//ircms.irstreet.com/contents/data_file.php%3Ftemplate%3D51%26brand%3D128%26folder_contents%3D15710%26src_data%3D60677%26filename%3Dpdf_file.pdf&url=http%3A//www.irstreet.com/en/brand.php%3F%26content%3Dbrand_newsrelease%26brand%3D128
Also note the part that states that Mitsui potentially would hold 31% of Clines shares.
Look how Cline has fallen ever since they announced that 19 million dollar loan.
Feels like we have been taken over already, AT A DISCOUNT.
Well done Mr. Bates, Well Done!!!!!!!!!!!!!