RE: Pump and dump Pasta. I couldn't agree with you more about the excuses the management mae for never buying the stock. I always thought it was a huge red flag that no insiders ever bought the stock with their own money. Ironic that the new guy is the first to buy stock.
Also, Cline's fatal mistake was not having raised enough money to be able to fully fund their cap ex and working capital needs. The company also owes $50 million of debt that is due in Feb 2014. Do you really see this company being able to pay off their debt on the production schedule they are on? I guess they could issue more equity and dilute every one in a big way. Not a pretty scenario
I mentioned before that I was highly suspicious of the lawsuit being announced the day before the AGM. Sounds desperate to me. I can see Cline being reimbursed for the cost of the licenses and maybe some of the sunk costs.To me it is ridiculous that they are trying to sue the government for the net present value of the coal that would have been mined from the property. Cline comes up with a figure of $500 million. So let me get this straight. Cline wants the government to hand them a cheque up front for all the profits they would have allegedly made from the properties. The defense lawyers probably couldn't stop laughing.