Information of catalyst paperoldermol
May 28th, 2010, 03:54 AM
Facts:
* New Elk Coking Coal Mine, 315M tonnes resources. Output will be 3Mtpa
* Another project with 250Mtonnes, could bring an additional 2M tpa of coking.
* Production cost: 115USD/tonne
*Current coking price: 225USD/tonne
*Production starts in Q4, ramping up to full production
*Almost fully funded, only 20M needed from here. (They also have 20M in debt, provided by their biggest shareholder)
*Biggest shareholder is their sales agent in Asia.
Lets see what happens if we need to issue another 45M shares at 1.00 (toraise 45M (20M for the debt, and 25M for the remaining developmentcosts).
Outstanding amount of shares after 45M dilution: 175M.
Output? 1.3M tpa in 2011, 3M TPA in 2013
Cash cost? estd. at 97, but let's take 120 to be conservative
Coal price? Current spot is at 240, Russia's biggest coking mine has hadan accident, so I dont think it's too hard to achieve a price of 200MUSD/tonne coking. But again, let's be conservative, and use 180/tonne (the lowest contract price of the last 4 months...)
at 1.3M tpa, cashflow is 78M, or 44cents per share.
at 3M tpa full production, cashflow is 180M, or 1.02 CAD per share.
Loaded up big time sub-1.20s. Wasnt allowed to send it out with CRbecause of Vic :wink_bys But still a strong buy, if you ask me.
Poldermol
May 28th, 2010, 03:57 AM
The Jennings Capital report:
SK_
May 28th, 2010, 09:33 AM
Woohoo!Many thx Poldermol for starting this thread. I have a small positionin the US version - Pink: CLNMF (https://www.google.com/finance?q=clnmf) -enjoying recent profits on that. :beer_bys
Will try to increase position Monday.
Can anyone tell me where I can view L2 Euro? Is it possible w/Fidelity acct?
PW
June 1st, 2010, 09:47 PM
Poldermol
June 17th, 2010, 05:35 PM
Metallurgicalcoal producers such as BHP Billiton (BHP,BHP.AU) and Alpha NaturalResources (ANR) are gearing up for a "golden age,"with demand likely toremain high for years to come, an industry consultant saidThursday.Higher demand for the raw material needed to feed steel industry growthin Brazil,India and China, coupled with delays in new supply projects,means prices will remainhigh for at least the next two years, saidMichael Dixon, new business developmentmanager of Sydney-based AMEMineral Economics, at an industry meeting in Rio de Janeiro. Higherdemand will push global export trade in metallurgical, or coking, coalup to 240million metric tons in 2010, from last year's 220million tons, Dixon said. Annual average prices will rise to $215 aton this year from $129 in 2009 and are setto grow further to about $225in 2011, according to the consultant. "Prices won't fall,"Dixon said. Still, they may not regain theirhistoric peak of $300 a tonin 2008, during the commodities boom, when there were supplyproblemsincluding rains in Queensland, he said. "There's aconsiderable scarcity of high quality coking coal throughout theglobe.There are infrastructure constraints to new projects, especially inAustralia. AndChina, India and Brazil will import a lot more, stressingsupplies," he said. Australia, the world's biggest supplierof metallurgical coal, is expected toexport 140 million tons of the rawmaterial in 2010. Plans to boost exports by a further80 million tons ayear may not fully materialize due to delays in port expansion,Dixonsaid. The new Resources Super-Profits Tax being discussed by theAustralian government andwhich would impose a hefty new tax burden onprofitable mining companies, may also hinderthe emergence of new coalmine projects, he said. "Since the tax started to be discussed earlierthis year, mining projects worthAUS$20 billion have been put on hold,"Dixon said. Arun Kumar Jagatramka, chairman and managing director ofIndian producer Gujarat NRECoke, said it will be difficult for othersuppliers to meet the gap caused by Chinarecently pulling out of themetallurgical coal export market in a move to meet its owngrowingdemand. "China used to export up to 10 million tons a year and now ithas become a netimporter," Jagatramka said. "Last year, India had a cokeshortage of 5 milliontons and there's a global supplyshortfall of 12 million tons." India may need to import an extra 19million tons of the raw material by 2011 andBrazil will need a further14 million tons of supplies in coming years to meet itsplannedsteelmaking expansions, Jagatramka said.
Poldermol
June 18th, 2010, 03:02 PM
Looks like we will receive money for losing the Flathead property. If it comes fast enough, it might prevent some dilution:
One issue that has yet to be settled is compensation for Cline MiningCorp. and Max Minerals, two Canadian companies with claims in theCanadian Flathead.
He said it has been determined that the companies will receivecompensation for “sunk costs†that have already been incurred intheir exploration activities, rather than the loss of future revenues.The high-end estimate for compensation is about $17 million, Schweitzersaid.
lattes
June 19th, 2010, 01:16 AM
Thanks Poldermol, been trading in and out of this. Wonderful price right now if you don't have a position.
Poldermol
June 19th, 2010, 01:22 PM
It's one of my biggest holdings now, as I keep averaging down.
pekaye
June 20th, 2010, 02:16 AM
Poldermol - a few questions...
1) Why was the New Elk Coal Mine originally abandoned?
2) Do we already know who the buyers of the coal are? Asians?
3) Why have they lost the Flathead property?
Thanks (Tempted to load up on Monday)
smithypops
June 20th, 2010, 07:30 AM
2) japan apparently
Poldermol
June 20th, 2010, 08:21 AM
1)It wasnt abandoned, they bought the New Elk Coal Company for 15.4M.Operations were put on hold as the coking prices were tumbling. Fast andhard.
2) Offtake agreement with a Japanese company, who'll act as their salesagent. Those Japanese are also their biggest shareholder, and creditor.
3) Environment. All companies but Cline and Max agreed to withdraw fromthe area, to preserve nature. Even companies like Chevron (150B MC) andConocoPhilips (80B MC) gave up their claims.
Interesting read on answer 3:
https://www.treehugger.com/files/2010/06/canadian-coal-mining-interest-holds-glacier-park-hostage-for-us-taxpayer-money.php
JonW
June 22nd, 2010, 02:42 AM
Cline New Elk Mine rehabilitation update: Miners access all coal seams in New Elk Coal Mine
TORONTO, June 21
Cline Mining Corporation (TSX: CMK) ("Cline" or the "Company") ispleased to announce that the underground miners have now completed theinstallation of roof support and clean-up of roof falls in the AccessSlopes down to the Allen seam, the lowest coal face at Cline's New ElkCoal Mine located in Las Animas County, Colorado, U.S.A. This completesthe rehabilitation of the Access Slopes, which intersect all threemineable coal seams in the deposit. These are the Allen, Maxwell andApache coal seams, which contain a total of 315,000,000 tons of NationalInstrument 43-101 ("NI 43-101") compliant measured and indicated coalresources. Work is currently underway to prepare the Access Slopes for amine development phase including installation of conveying and hoistingsystems. The Company is pleased with the progress and that it is nowpresented with full flexibility and all options to best exploit the coalresource.
First production at Cline's New Elk Coal Mine is planned for Q4 of 2010.Production will ramp up to 1.3 million tons per year in 2011, andthereafter increasing to 3.0 million tons annually by 2013 ofmetallurgical steel-making coal slated for world markets. Cline's NewElk Coal Mine has a measured and indicated coal resource of 315 milliontons of in-place coal as documented in the 2008 Behre Dolbearindependent NI 43-10 Technical Report. The initial Behre Dolbear reportwas referenced and relied upon by Agapito Associates, Inc. in itsPreliminary Assessment dated March 13, 2010, which assessment wassupported by a NI 43-101 compliant Technical Report. Both reports areavailable on SEDAR and Cline's website at
www.clinemining.com.
Cline's New Elk Coal Mine in Colorado has a long and successful historyof producing and delivering high quality metallurgical (coking) coalfrom its underground mine in southern Colorado to the steel makingindustry. In addition to its coal resource, the coal mine assets includea coal preparation plant, product coal silos, buildings, surface realestate, conveyor systems, electrics, underground workings with mineportal access from the plant site, mine permit and a permitted coalrefuse disposal site.
The New Elk Coal Mine is accessed directly by paved highway from thetown of Trinidad, southern Colorado. Employment levels at the mine havereached 60 people, at least half of which have been hired locally. Avideo, which was shown at the Annual and Special Meeting of Shareholdersof the Company on Friday June 11, 2010 is available showing theprogress at the New Elk Coal Mine and can be viewed on Cline's website(www.clinemining.com).
Link (https://www.digitaljournal.com/pr/60438)
JonW
Poldermol
June 23rd, 2010, 10:40 AM
More about the Flathead-stuff:
The historic agreement banning natural resource development along theNorth Fork Flathead River, signed by Montana Gov. Brian Schweitzer andBritish Columbia Premier Gordon Campbell earlier this year, containslanguage saying the retirement of oil, gas and mineral leases must becompleted by July.
It is a deadline, Schweitzer acknowledged last week, “in doubt.â€
At issue is compensation, which could range as high as $17 million, dueto two mining companies – Max Resource Corp. and Cline MiningCorporation – for investments they made exploring for gold and coal inthe Canadian Flathead, prior to the B.C. ban. While the mineral leaseson the U.S. side have not been shown to be worth much, the resourcesbeneath the ground on the Canadian side are worth billions, making themining ban a bigger sacrifice for B.C.
It’s currently unclear what the actual costs will be until the BritishColumbia provincial government provides the information, based oninvoices and other evidence from the mining companies. But the languagein the Memorandum of Understanding, signed Feb. 18, states that steps tohalt mining and drilling in the Flathead River basin are, “subject toagreement on the equitable disposition of the financial implications ofthis action for the Province of British Columbia respecting existingmining and coal tenure holders.â€
“We don’t know what the number is,†Schweitzer said of the sumowed the two mining companies. “The highest number I’ve heard is $17million.â€
Though Schweitzer does not think funds will be available to pay Clineand Max Resource by July, he said that circumstance in no way detractsfrom the strength of the Memorandum of Understanding between Montana andB.C., nor does it lessen the commitment to protect the Flathead on bothsides of the border.
“These MOUs are as binding as any act of Congress,†Schweitzer said.“The federal government, in the past, has paid millions in similardeals.â€
The Montana governor traveled to Vancouver last week to meet withCampbell during Canada’s Western Premiers’ Conference, whereSchweitzer said the two leaders discussed the missed deadline, and hewas forthright about the lack of funds. Gary Doer, Canadian ambassadorto the U.S., and David Jacobson, the U.S. Ambassador to Canada, werepresent at the meeting.
“It would be disingenuous to say we have a solution because we don’tand those are the facts,†Schweitzer said. “But we haven’t givenup.â€
“Ottawa and Washington D.C. haven’t decided the way forward,†headded. “It has been four months and we haven’t been able to find asolution yet.â€
According to Schweitzer following the meeting, both he and Campbellagreed that the progress made toward retiring the leases over the lastfour months has been substantial and represents a good faith effort onboth sides.
“It’s taken us 30 years to get to where we’re at,†Schweitzersaid. “About 98 percent of what we were attempting to accomplish hasbeen accomplished.â€
“We’ve agreed that we’re staying on the timeline,†he added.
In March, Montana Sens. Max Baucus and Jon Tester introduced legislationpreventing any new oil and gas lease from being issued in the NorthFork, and since then energy companies Chevron and ConocoPhillips havevoluntarily retired their interest in leases covering nearly 200,000acres in the area. Shortly afterward, the state Land Board passed aresolution restricting mining and drilling along the North Fork, southof the U.S.-Canadian Border. At the local level, Flathead County isworking toward amending zoning regulations regarding gravel pits in theNorth Fork to comply with the language of the mining ban.
North of the border, the British Columbia government signed a law inFebruary reversing a land-use plan for the Canadian Flathead that gavepriority to mining and drilling over other uses.
These efforts, according to Schweitzer, demonstrate that a push topermanently protect the Flathead from mining and drilling is wellunderway, even though the federal government has yet to provide fundsfor Cline and Max Resource, primarily because the actual costs are stillunclear.
“There are two moving parts that are really kind of beyond our control,†Schweitzer said.
Inquiries by the Beacon to Campbell’s administration as to hisreaction to the missed deadline, and when the costs due Cline and MaxResource would be known were unavailable as of press time, because,according to a spokesman, the B.C. minister of state forintergovernmental relations, Naomi Yamamoto, was unavailable forcomment.
Schweitzer made headlines earlier this month when he was quoted tellingthe Canadian consul general, “our federal partners have let usdown,†regarding funding to pay Cline and Max Resource. Staff forBaucus and Tester were quick to respond that until the costs were clearand well documented, the two senators would not be able to securetaxpayer dollars to compensate the corporations, despite theircommitment to protecting the North Fork.
Schweitzer, however, showed no signs of backing off his earlier comments when asked if they were overly harsh or premature.
“No federal agency has assured us that they have a compunction ofmoving forward,†Schweitzer said. “We’re going to continue topush.â€
The governor also noted, based on the 1988 circuit court ruling inConner v. Burford, that many of the leases granted in the North Forkwere done so illegally, which gives the Secretary of the Interiorauthority to cancel them. On March 15, Schweitzer sent a letter toInterior Secretary Ken Salazar urging him to do so.
In a May 26 posting, the blog Left in the West reported on a rumor thatWhitefish Republican state Sen. Ryan Zinke was planning to introduce abond measure in the next Legislature to compensate the B.C. mining firmsfor their sunk costs if an agreement had not been reached on thepayment by then. Reached last week, Zinke said he hasn’t been involvedin any negotiations and would need to learn more about the issue, butthat he would contact Schweitzer to discuss such a measure if it isstill necessary next year.
“I haven’t talked to the governor’s office on options, but it’snot out of the realm of possibilities and I’d certainly considerit,†Zinke said. “If we can’t figure something out, then I wouldwork with the governor to move on something.â€
Nor are members of the conservation community in the Flathead alarmed bythe missed deadline. Will Hammerquist, Glacier program manager for theNational Parks Conservation Association, noted that leases are stillbeing retired for the New World mine near Yellowstone Park, a processtaking decades.
“These things take time; they’re complex,†Hammerquist said. “Isee the July deadline as a way the governor and premier werecommunicating to the public the importance of this agreement.â€
Dave Hadden of Headwaters Montana agreed.
“I don’t think that’s going to be the death knell of thatagreement,†Hadden said. “I don’t think either government’sgoing to let it go because of a missed deadline.â€
“We’ve moved this bi-national issue way down the ball field,†headded. “I have no question we’re going to get to the end.â€
lattes
July 9th, 2010, 10:07 AM
Yeehaw!
Thanks again Poldermol, just got my sell order filled @ $1.37 and have collected a nice sized chunk of 'free' shares.
SK_
July 9th, 2010, 10:49 AM
InMarch, Montana Sens. Max Baucus and Jon Tester introduced legislationpreventing any new oil and gas lease from being issued in the NorthFork, and since then energy companies Chevron and ConocoPhillips havevoluntarily retired their interest in leases covering nearly 200,000acres in the area. Shortly afterward, the state Land Board passed aresolution restricting mining and drilling along the North Fork, southof the U.S.-Canadian Border. At the local level, Flathead County isworking toward amending zoning regulations regarding gravel pits in theNorth Fork to comply with the language of the mining ban.
...
These efforts, according to Schweitzer, demonstrate that a push topermanently protect the Flathead from mining and drilling is wellunderway, even though the federal government has yet to provide fundsfor Cline and Max Resource, primarily because the actual costs are stillunclear.
...
I was born and raised in this region - 5 generations off the Flatheadlake - family came over by wagon train 1800's, grandfather cowboy, etc.No way in hell locals will ever allow this to happen. There are twokind of Montanans.... Republican (no taxes, protect logging) -Republican (no taxes - Pro Environmentalist.), and ONE kind of Democrat:No taxes - EXTREMELY Pro-Environmentalist.
....just saying. :beer_bys
1510
Dog
July 9th, 2010, 10:57 AM
Montana..My favourite state. Used to fish and camp there and buy beer for $10 for 24
Sweetgrass, I love you.
lattes
July 9th, 2010, 02:00 PM
$10 a case!!! I'm moving to Montana!
pekaye
July 12th, 2010, 09:29 AM
Nice little movie at
https://www.clinemining.com/
Don't know when is was added - maybe I'm just a bit slow...
SK_
July 14th, 2010, 05:18 PM
Cline New Elk Transportation and Mine Permits Issued (https://www.newswire.ca/en/releases/archive/July2010/14/c4414.html)
Vic Van
July 15th, 2010, 05:44 AM
Lovethis one as many of you know. Gave polderz DD to a few of you. Rightnow coking prices are soaring. It helped with the Ukraine mine explosionknocking out 7m to 8m. Thermal my main fiocus on power demand. Yeghtnow, even if they say 'china steel reducing' its all nonsense. Brazil,korea, india and taiwan are sreaming for it. 3m potneitla here is great
But
Longer term. And as poldermol knows. I basically 'have your back' onthis. Long term prices imho will crash on coking. Right now CMK hasmajor first mover advantage. Mine is there. Waiting. Due to closurebefore on low coking coal prices. But as you know. Higher to train itfrom central usa, then ship to asia. Still good now. But a reduction inprices, swings hard to the low (as higher prices is pure bottom line).Facvt is right now wow, every coal producer, any small explorer, all ofthem are focusing inon coking coal. As you will know the demand isnthuge anyway when you are talking millions. When cmk hit the 3m mark inramp up, i think we see a major push and pull. Sp many carriers and somany in asia. Hence far lower cost to produce and ship. Obviously thereason why this mine didnt work in past is low prices. They are shippingto the demand areas. Brazil would be so much better for them but asiais main driver.
Right now sit back, smoke cigars. But see usd150 not usd280 (as itsapproaching now) longer term. Costs of usd112 still work. But then LONGfuture. Its too far from the end users. So dont think lock this up andthrow away the key. Not that you would. But have this with other cokingcoal plays in africa and asoa. Keep a spread with some lower costproducers. And keep eye IN future on steel demand. Its all about steelbaby. And the prices are high. But ukraine back, all these near termproducers nearer asia. Just watch as our costs arent the lowest around!!Cheers
SK_
July 20th, 2010, 12:13 PM
JonW
July 20th, 2010, 12:24 PM
SK_,thanks for the heads up. The link's not working for me. Anything youcan usefully post or is it pretty much just what you said? Any idea oftimeframe?
JonW
SK_
July 20th, 2010, 12:28 PM
It appears no info available.
Try this one:
https://finance.yahoo.com/news/Investment-Industry-cnw-261908703.html?x=0&.v=1
ORONTO, July 20 /CNW/ - The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):
Issuer Name: Cline Mining Corp.
TSX Ticker Symbol: CMK
Time of Halt: 12:07am ET
Reason for Halt: Pending News
For further information
contact - IIROC Inquiries (416) 646-7299 - (x) Please note that IIROCis not able to provide any additional information regarding a specifictrading halt. Information is limited to general enquiries only.
SK_
July 20th, 2010, 12:39 PM
Clineextends loan agreement with Mitsui(https://finance.yahoo.com/news/Cline-extends-loan-agreement-cnw-1497644844.html?x=0&.v=1)
TORONTO, July 20 /CNW/ - Cline Mining Corporation (TSX: CMK(https://finance.yahoo.com/q?s=cmk.to&d=t) - News(https://finance.yahoo.com/q/h?s=cmk.to); "Cline" or the "Company") ispleased to announce that it has agreed with Mitsui MatsushimaInternational Pty. Ltd. ("Mitsui") to a one year extension of theCline-Mitsui Loan Agreement dated July 18, 2008 for CDN$19 million. Theextended principal repayment will be subject to an interest rate of 12%per annum calculated annually and will mature on July 25, 2011("Maturity Date"). Cline will pay the interest accrued to July 25, 2010in accordance with terms of the July 18, 2008 Loan Agreement.
The main terms of the Extension Agreement include the following:firstly, Cline has the right to prepay the loan and any accrued andunpaid interest at any time from time to time, without penalty, beforethe Maturity Date; additionally, Mitsui has the option to convert up toCDN$19 million of the principal balance of the loan into shares ofCline Mining Corporation at the price of CDN$1.50 per share, subject tothe approval of the Toronto Stock Exchange; further, Cline will repayMitsui $2.0 million of the Principal amount of the Debt by December 31,2010, and commencing in January 2011, the Company will repay Principalamounts of the Debt in amounts equal to ten percent (10%) of theproceeds from the sale of coal from its New Elk Coal Mine each month.
The proceeds from the Mitsui loan for CDN$19 million were used for theacquisition of the New Elk Coal Mine, located in Las Animas County,Colorado, U.S.A. The mine is now in development, on schedule and onbudget for first production of high quality metallurgical coking coalin Q4 of 2010, proceeding to 3 million tons annually. Cline's New ElkCoal Mine has a measured and indicated coal resource of 315 million tonsof in-place coal as documented in the 2008 Behre Dolbear independentNI 43-10 Technical Report. The initial Behre Dolbear report wasreferenced and relied upon by Agapito Associates, Inc. in itsPreliminary Assessment dated March 13, 2010, which assessment wassupported by a NI 43-101 compliant Technical Report. Both reports areavailable on SEDAR and Cline's website at
www.clinemining.com(https://us.lrd.yahoo.com/SIG=11068jbmb/**http%3A//www.clinemining.com/).
In addition to its coal resource the coal mine assets include a coalpreparation plant, product coal silos, buildings, surface real estate,conveyor systems, electrics, underground workings with mine portalaccess from the plant site, mine permit and a permitted coal refusedisposal site. For an update on mine progress and permitting, pleasesee Cline's News Release dated July 14, 2010.
The New Elk Coal Mine is accessed directly by paved highway from thetown of Trinidad, southern Colorado. Employment levels at the mine havereached 60 people, at least half of which have been hired locally. Avideo, which was shown at the Annual and Special Meeting ofShareholders of the Company on Friday June 11, 2010 is availableshowing the progress and key people interviews in Trinidad and at theNew Elk Coal Mine and can be viewed on Cline's website(www.clinemining.com (https://www.clinemining.com)).
SK_
July 20th, 2010, 12:46 PM
lattes
July 20th, 2010, 04:34 PM
Again... gosh I love this company.
I would guess that when they report Q2 they may see a drop b/c of lackof income and the possible dilution. Another chance to load up sometrading shares... hopefully.
Poldermol
August 14th, 2010, 06:05 PM
Aug13/10 Aug 12/10Inwentash, Sheldon DirectOwnership Common Shares10 - Acquisition in the public market50,000$1.495 Aug 13/10Aug 12/10Inwentash, Sheldon Direct OwnershipCommon Shares10 - Acquisition in the public market25,000$1.490 Aug 09/10Jul 28/10Inwentash, Sheldon Direct OwnershipCommon Shares10 - Acquisition in the public market40,000$1.610 Aug 09/10Jul 28/10Inwentash, Sheldon Direct OwnershipCommon Shares10 - Acquisition in the public market25,000$1.590 Jul 26/10Jul 22/10Inwentash, Sheldon Direct OwnershipCommon Shares10 - Acquisition in the public market13,900$1.576 Jul 26/10Jul 22/10Inwentash, Sheldon Direct OwnershipCommon Shares10 - Acquisition in the public market2,000 $1.571Jul 26/10Jul 22/10 Inwentash,Sheldon Direct OwnershipCommon Shares 10 -Acquisition in the public market24,100 $1.576Jul 26/10Jul 21/10 Inwentash, SheldonDirect OwnershipCommon Shares 10 -Acquisition in the public market19,200 $1.536Jul 26/10Jul 21/10 Inwentash, SheldonDirect OwnershipCommon Shares 10 -Acquisition in the public market55,800 $1.538Jul 23/10Jul 22/10 Inwentash, SheldonDirect OwnershipCommon Shares 10 -Acquisition in the public market77,800 $1.589
Poldermol
August 14th, 2010, 06:05 PM
Damn layout!
Sheldon Inwentash (Pinetree Capital) is buying more...
JonW
August 19th, 2010, 02:58 AM
Positive news flow! Always a good reason for the share price to drop!!!
Cline Mining on schedule - drilling program - three new seams
TORONTO, Aug. 18 /CNW/ - Cline Mining Corporation (TSX: CMK) ("Cline" orthe "Company") is pleased to announce that the development of its NewElk Coal Mine continues on schedule and within budget. Cline's New ElkCoal Mine has now completed five drill holes as part of an explorationprogram of 15 drill holes to detail the specific metallurgical coaltonnage and quality for sale to the steel making industry over the first20 years of mining at the New Elk Coal Mine. The 15 holes are beingdrilled to delineate the specific coal reserves that will be mined andsold to meet the Company's projected 55 million tons of coking coalsales during the first 20 years of production. The 55 million tons willbe mined from a 315 million ton coal resource as quantified in the 2008Behre Dolbear National Instrument 43-101 (NI 43-101) compliant TechnicalReport, which was utilized by Agapito Associates, Inc. in itsPreliminary Assessment and NI 43-101 compliant Technical Report datedMarch 13, 2010.
Results from drilling are consistent with the Company's previouslypublished coking coal quality data. In addition to the coring and coalquality testing, the exploration program is designed to determinegeotechnical, hydrological and other engineering properties of the rockintervals within the New Elk Coal Mine, required as design parametersfor detailed mine planning. The geotechnical properties obtained as partof this exploration program have been already used for the numericalmodeling and assessment of the initial mine development plan in theApache seam. Once completed, the results of this exploration programwill be used as a basis for an NI 43-101 compliant feasibility study,which should be available by October 2010.
The major New Elk coal seams identified and quantified to date are theMaxwell, Apache and Allen seams, as detailed in the Behre Dolbear NI43-101 compliant Technical Report 315 million ton coal resourcecalculation. The present drilling program and continued mine developmenthas now identified the existence of an additional three coal seams inthe coal structures on the property. These are presently identified asthe Yellow, Blue and Red seams, found at a shallower depth andsequential with the Maxwell, Apache and Allen seams. The coal seams atNew Elk are each relatively flat lying and parallel in sequence. Anexamination of historical archive records has indicated that they maycontain important data on the new seams, which the Company is nowinvestigating. In the meantime the new drilling program will also recorddata on the new seams from the drill cores. Initial archival data, andcurrent drill results, indicate that the new seams may be significant tothe resource and its potential.
Cline's New Elk Coal Mine is located in Las Animas County, Colorado,U.S.A and is accessed directly by paved highway from the town ofTrinidad, southern Colorado. Employment levels at the mine have reached80 people, about half of whom have been hired locally. In addition toits coal resource the coal mine assets include a coal preparation plant,product coal silos, buildings, surface real estate, conveyor systems,electrics, underground workings with mine portal access from the plantsite, mine permit and a permitted coal refuse disposal site. Firstproduction at Cline's New Elk Coal Mine is planned for Q4 of 2010.Production of 1.2 million tons of metallurgical grade coal inanticipated in 2011, ramping up to 3.0 million tons annually by 2013.
For more information on Cline's New Elk Coal Mine, a video is availableshowing the progress and key people interviews in Trinidad and at theNew Elk Coal Mine and can be viewed on Cline's website(www.clinemining.com).
LINK (https://www.newswire.ca/en/releases/archive/August2010/18/c3565.html)
JonW
Dog
August 19th, 2010, 04:01 AM
Ilove this company..Too bad I am not buying anything these days. I willget in, I promise, I just think the market is going to capitulate soon.
JonW
September 19th, 2010, 06:22 PM
Sheesh!! What happened to this on Friday. Up 18%?!!!! All at the end of the day too.
Poldermol
December 8th, 2010, 06:23 PM
Doing well since sep
GeeWillickers
December 8th, 2010, 06:32 PM
Doing well since sep
So is everything else. If it wasn't doing well than I'd be worried. :wink_bys
Poldermol
December 8th, 2010, 06:45 PM
Was just bumping the topic :P
GeeWillickers
December 8th, 2010, 07:03 PM
Was just grinding your bump! ;) lmao
schwi105
December 8th, 2010, 07:20 PM
Get a room guys....:p
Vic Van
December 9th, 2010, 08:56 AM
Funnily enough posted on AIM section over view of coals. basically 200% up and taken heavy profits but riding the rest to 8s
A few mates met "Mr Cline" (not sure who it was, insurance related) andbasically said he is a genius. To get the coal to Asia, the way in whichthey are planning and the progress to date is really quite something.Was amazed when it fell back further to 1s again, after the progressnews and Coking prices.
Now yeah doing very well.
Seeing its not AIM stocks its global probably should move the post.
https://www.mystockbuddy.com/index.php/msbforums/showthread.php?t=3873
Coal love. Like the coal / gold mix also despite hating gold its a needed evil for me.
Vic Van
January 1st, 2011, 10:31 AM
Wellat $4 now (Late DEcember rallied to new highs) around 400% up as in x4from the heads up $1 average. Cheers Poldermol keep em coming. Will takesome out of here now. And dam could of averaged far lower down alsoback in the year.
A cracker with TSX:CUM. Have way too many Canadian dollars now.