Discussion with Dale HendrickI put in a call to Dale Hendrick, one of the board members. He returned my call. He has his own firm, you can google him to get the number, he will return your call.
Here were his responses to my questions
1- Coal quality, according to the 43-101, and Sean Cassey- should be able to get 75% discount to premium
2- Operational costs - he is comfortable with approx $100/tonne
3- Buyers of the coal- several
4- Buyers of the Lossan property- have been approached by a major, this is an option that the company is seriously considering
5- Buyers of CMK altogether- will be there once production and sales is up and running.
6- lack of transparency from mgmt,- had no comment
One other note, which i found somewhat confusing, they had a bd mtg on Friday and were speaking with Sean Cassey, sez that there is approx 50000 tonnes of clean coal on the property ready to be sold. I asked him this twice and he confirmed it, even after i mentioned to him about the 35000 tonnes report on the latest MD & A. Would not be surprised to see the coal sold in the next few months.
I also asked him about additional financing, - not happening, they have enough coal right now to sell at high prices
They are very careful with the finances, rail line will only be built once sales are established and cash flow is there.