RE: CMK video... German Partners? NotYou need to read through all of Clines and Mitsui's filings. Thyssen , Cline's former partner sold off its shares to Mitsui and with it its marketing rights. Coincidentally, or maybe not so coincidentally, at the same time this event occured Cline's CEO sold a wack of shares at the same time.
You need to read the actual Mitsui Matsushima Co., Ltd. press releases as they give more information than Clines, specifically about Thyssen selling Mitsui Matsushima its European & South American Marketing for Cline Coal Resources.
Thyssen Krupp had European and South American Marketing rights to Cline Coal Reserves
On June 23, 2008
Cline announced the Mitsui loan MOA and in it it stated the following:
"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."
Note that Cline makes them exclusive worldwide marketing and sales agent, yet at the date of this press release no news has been released about Mitsui buying Thyssen's shares. How at this time could Cline give Mitsui exclusive rights if Thyssen Krupp had European and South American Marketing rights to Cline Coal Reserves.
On July 3, 2008
Ken Bates (Cline CEO) sold 50,000 shares for $1.90.
On July 4, 2008
Mitsui makes its initial purchase of shares from Thyssen at $1.41.
On July 7, 2008
Cline announces the 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.
So now it makes sense why Cline was able to announce on June 23, 2008 that Mitsui was getting worldwide rights to sales and marketing of New Elk coal, because on June 13, 2008 Mitsui & Thyssen entered into a share purchase agreement. A share purchase agreement that was not disclosed to the public until July 7, 2008.
What does not make sense is how the CEO of Cline was able to sell shares at $1.90 on July 3, 2008, one day before Mitsui made its initial purchase from Thyssen at $1.41 on July 4, 2008, yet all of this was not disclosed to the public until July 7, 2008.
Lets assume for a moment that Cline was not privy to the agreement between Thyssen Krupp and Mitsui. So how on June 23, 2008 could Cline give Mitsui exclusive worldwide rights to Mitsui for New Elk Coal, when at the time they had an agreement with Thyssen for European and South American marketing rights to Clines coal reserves? Well in hindsight, because on June 13, 2008 a share purchase agreement was made between Mitsui & Thyssen, something not reported to the public until July 7, 2008, and this was three days after Cline's CEO sold a chunk of shares on July 3, 2008 at a price significantly higher than the pricing of the first tranche of Mitsui's sale to Thyssen.
What a lucky guy Ken Bates is.
Here is where you can read Mitsui releases
https://www.irstreet.com/en/brand.php?&content=brand_newsrelease&brand=128