CEO continues to dump sharesWell, at least Ken Bates KNOWS when to sell. Previous bunch at $1.90 one day before Mitsui agrees to buy shares from Thyssen at lower $1.40 price, now another dump at $1.00.
Its obvious what Ken Bates thinks Cline's valuation is.
Mark my words...I bet the Company will continue to be quiet and vauge on its schedules and plans, estimates, releases, etc. until they get a chance to issue themselves another round of cheap options, unlike the higher price smokscreen options the issues to themselves prior.
Time for a NEW CEO....fat chance of that happening given Mitsui controls us and Ken Bates worked for Mitsui before.
I wonder how much work has been done at Lodgepole?
What is going on with the never ending study and re-examination of alternate Lossan mining plans?
How long till Natasa owns UMC outright?
Are they drilling yet at Beki?
Why are they trying to market Soalala if Beki is so good?
What are their intentions with Cline Lake Gold? To keep dragging it on so they have something to announce when other things fails?
Where is the next environmentally sensitive coal claim going to be?
An aging CEO, with all of these projects on the go. What help does he have? Why doesn't he have more help?
Whats going on with the CFO? Is he leaving? Is he a temp? Still no resume for him on Cline's website which states coming soon for a long time.
Is Cline going to be drilling New Elk like the 43-101 suggest doing before mining? When does that start?
How does Cline intend to deal with the lack of rails?
When does the mine pumping begin?
Why did Ken Bates allow a season of drilling for U at Madagascar go to waste when we owned the majority of UMC?
Why did we go so long with the old CFO if as others have suggested there were filing problems and restatements because of his old school ways?
Maybe we get to wait for the next new website. Cline tends to reinvent its website each time prior to a pump.
Mr. Bates and the President of Madagascar in a picture on its website. Is this the Madagascar news we want? Or is it a way for Cline to pump itself?
Why not release more information about the reality of New Elk staus when they first bought the surface assets and gave such a limited description of what state New Elk was in by only quoting select things from a 43-101 on New Elk when they had the full 43-101 in their hands? A report whose picture reads different than the limited information they released.
How many other people truely desire change in the way this Company operates?
Why on god's earth Mr. Bates would you choose to exercise your cheapest stock options that were so recently conviniently granted to you instead of your higher price options which were well in the money so that it could put more cash in the Comapny coffers?
Whose company is this, Mitsui's? Ken Bates? or the Shareholders?
Shareholders want to KNOW.
What is the realistic timeline for
1. New Elk to begin pumping water and what does Cline need to do to allow that to happen?
2. When you state that you plan to reopen the mine in 6 months, will you be mining just the coal fines in the waste pit, or are you pplanning to be mining underground by that time.
3. If in 6 months its only mining from the waste pit, what could be a resonable projection of when the company expects to start mining underground?
4. Does Cline need to drill (and possibly get permits to drill) prior to the beginning of any underground mine?
5. When will the work on the changes to the processing plant begin, how long will they take, and what will they cost?
6. Who is going to run the mine for Cline?
7. What are the hurdles the Comany must face getting a rail connection in again?
8. When does the Company plan to apply for permit to actually open the mine again?
9. Which of the 3 mines does Cline intend to work first, New Elk? Golden Eagle? or Lorencito Canyon?
10. What plans does Cline have in place to deal with a loss of a CEO?