RE: Finally - Announcement Finally, for those that attended the last AGM there was discussion by a board member that if the co wasn't turned around by the next AGM there would be board resignations. I nearly fell off my chair when I read the release. Finally someone is doing the honourable thing and resigning. Prior to the last AGM I was asking folks to vote against the 'recommended' actions being proposed by the board. Many of you responded that you would vote against. Sadly unless you own 1% of the shares (and back then that was a little more pricey to do) you couldn't bring your own shareholder proposal. Instead I learned a lesson - no matter how good it sounds, unless you actually have sales contracts it doesn't matter. Remember the (not so) new Sales Manager hired from a big mining co that said he was confident that a sales contract could be signed 'within 2 weeks' (said at the AGM last spring). Here we are 6+ months later and silence on that front. In the meantime the coal is sitting unsold and 'going bad' - if you listen to the last TCK.b conf call the CEO said that the coal can sit for up to 6 months before it loses it's heating/blasting power - it's been 6 months now for CMK. No one will buy the coal that is sitting on their property. CMK (unfortunately) is finished.
What a shame. Time to move on folks. Best regards, mski