RE: Cobalt Coal Ltd. to Substantially Expand Prope Great news, but did I miss something here?
1) $15,000,000 is almost comparable to what CMK paid for its New Elk. Is CCF becoming a senior after the aquisition?
2) Would be interesting to see how CCF secures the minimum funding of US$10 million.
3) There are no words as to the the current mining operation. It was a desaster last year; the management was so pessimistic and listed a number of issues why it didn't work. One year later, does any one know if any of these significant issues has been addressed? Maybe the answer is yes and the company has decided to go further ahead. But this is unlikely because the latest (but not to date) Fiancial does not say any profit from mining operation. So, the management don't even care these significant issues they stated last year? The management nevertheleass has never shown that they are capable of achieveing the industrial average.
Is this going to be a big opportunity or a big a*.hole (like RDA) for the company?
Shellfish
Shellfish