RE: RE: RE: A LEAK of information??????Last year at about this time, CMK soared from $0.50 to to $2.50 in a period of just 7 days.
It subsequently did a PP at $2 per share to its major shareholder, Mitsui.
Wrong, Cline never did any PP on the big run up last year, they missed the boat, they financed cheap before the runup! (25 cents!) Mitsui LOANED Cline cash, something that Cline is running very low on now! As well, in less than one year that 20 million dollar loan is due to Mitsui.
As per Cline Sedar filing a week ago
"Economic Situation and Company ResponseThe Company is taking firm measures in response to the global financial and commodity price crisis. Management is strongly committed to ensuring that the Company survives the current market turmoil and has implemented a strategy to ensure this goal by reducing expenditures where possible at its New Elk operations in the U.S.A. and temporarily reducing operational activity on its Cline Lake property. Notwithstanding these measures however, current market conditions and the difficulty of obtaining financing during the current economic downturn substantially increases concerns regarding the ability of the Company to raise additional capital and to continue as a going concern. Such circumstances lend substantial
doubt as to the ability of the Company to achieve future profitable production and, accordingly, the appropriateness of the use of accounting principles applicable to a going concern. The Company's ability to continue as a going concern is dependent upon its ability to fund its working capital, exploration and development requirements and eventually to generate positive cash flows, either from operations or sale of properties."