Cline Mining vs China RTO fraudsUpdate on this post - China fraud cos reached 40 and $$ billions .
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29800117&l=0&r=0&s=CMK&t=LIST
Even John Paulson - the biggest like 30B hedge famous subprime short guy lost $ 600m on one of the frauds.
Now SEC is going after the auditors who signed -off their financial statements.
So ,my question was who is CMK auditor who signed off 1 statement
and then signed -off few weeks later CMK RESTATED statement ?
Guess what ... CMK released their latest financial statements
WITHOUT ANY AUDITOR checking the consistency of even internal numbers.
Quote from CMK financial statement --RIGHT ON TOP OF PAGE.
" the Company's independent auditor has not preformed a review
of those unaudited interim consolidated financial statements
in accordance with standards established by the Cnadian Institute of chartered Accountants "
GEEEESUS your entire investment relies on a word of PROVEN LIERS ,who spend most of their life ,selling Fairy Tales to gullible investors
NO independent confirmation of ANYTHING !!!
Just "trust me " - tard LOL
The colluding brokers are in on the scam and are as responsible for your loses as the LYING management.
The next news may be SEC fraud investigation .
Apparently, great Canadian regulations do not require auditors acting as
public controllers for the investor .
As long as a co spends hundreds of $$ millions
of investor's money and does not produce any income they do not
have to adhere to "standards established by the Canadian Institute of Chartered Accountants"
or ANY RULES IN THAT MATTER.
Just 'trust me"- tard .
GEEEEEESUS .
If co misses by 1/3 = exaggerates , overstates - you can tolerate it
after dropping PPS by 1/3 of course.
You can even hope they will turn around(are not complete losers) if they miss by 1/2
. after dropping price by 1/2 of course
BUT NOT BY 3 TIMES !!!!
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29792922&l=0&r=0&s=CMK&t=LIST
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29806348&l=0&r=0&s=CMK&t=LIST
Dropping price by 3 ( $ 3 to $ 1 ) is just a part of punishment for their lies .
IF THIS IS NOT A SECURITIES FRAUD ,THAN I DO NOT KNOW WHAT IS .
Maybe most cleverly designed "not fraud "?
Pages of forward warnings notwithstanding .
Hiding behind = quoting some IDIOT Tech Report writer who said
one can establish 3mt coal co for $ 60m capex , notwithstanding.
And another idiot analyst repeating that in their fraudelent reports / brazen pump.
Why the brokers who wrote such great "reports' do not own ANY MEANINGFUL stakes in CMK? (and even now at $2.7 they just got them for sale to suckers )
They prefer to put YOUR money where their ( paid for/ bought by co ) mouth is LOL.
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29726204&l=0&r=0&s=CMK&t=LIST
Jim Jubak from MSN wrote advice for investors how to protect themselves against ,innuendo , misleading and outright lies by the cos. here
https://money.msn.com/investing/the-big-fraud-in-chinese-stocks-jubak.aspx
1. Get used to including an Internet search for bearish opinions on any Chinese ( ADD: ANY CANADIAN EXPLORER)company before you buy as part of your due diligence
2.Try to double-check a company's financial claims with those of its competitors. If its growth rate, profit margin or market share is out of line with similar companies, make sure you understand why
3. be willing to walk away
In next posts I will do AGAIN # (2) and compare other miners capex to their lies of a 60m capex for 3mt mine .( or skillful double talk so, the reader reads it as 60 m capex and nothing more )
Thanks to Eigen post we see also t
heir NEXT LIE - 400 people capable of producing 2.95 mt
Eigen wrote :
We are going to PRODUCE 2,750,000 tonnes of coking coal (
NOT SOONER THAN 2015 IF EVER LOL) with ~ 400 mineworkers
( GEEEESUS.... EIGEN _ GROW UP - you are evolving towards GOD's tard math.....you are better than that )
. "Clifs' ( one of best guys in business) mine produces 1.1 mt with 375 mineworkers
. On this basis, our mineworkers with their modern equipment
are RATED to be almost 2.4 times as >>PRODUCTIVE<
<. Is this ACHIEVABLE?"
NO ,EIGEN IT IS NOT.- this is YET ANOTHER SCAM
and you are still SELLING it
( I do not believe you are buying this scam yourself -you are not that stupid..
....,just stupid enough to buy this POS)
WHY DO YOU BELIEVE BS STORY AND IGNORE THE FACTS ?
FACTS ARE
100 CMK people in H1 and 150 in H2 ( maybe 200 by year's end) will produce 350 kt .
Translates to 1000 CMK people producing 3m t. geeeesus .
Productive '???? ......ooooooo ......geeeesusss..... LLLOLL.
With 200 they will not make even 0.8 mt 2012.
Stay tuned details.
-------------------
In latest history there was NO 2 weeks period when short interest jumped 10 TIMES
and reached the highest level in last 52 weeks ( likely in last many years)
AND COUNTING
Shorting CMK shall be as profitable as shorting Chinese frauds.
As it was ( 45% down ) in last 4 months.
For 300% lie and miss market punished them with just 20% drop.
Way to go down.
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29811246&l=0&r=0&s=CMK&t=LIST
The grinding down 1 month -long seesaw described here
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29766277&l=0&r=0&s=CMK&t=LIST
will bring PPS down to $2.2 -2.3 and th
e final vertical drop to ,or below $ 2 .
$100m in the hole and NOTHING to show for it.
Plus the historical coal price pattern here =
30-50 % drop in price due 2012
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29810630&l=0&r=0&s=CMK&t=LIST
.