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Cline Mining Corporation T.CMK



TSX:CMK - Post by User

Comment by aatwalon Feb 15, 2013 1:37pm
178 Views
Post# 20996740

RE: RE: RE: RE: Strategy

RE: RE: RE: RE: Strategy

Before Feb. 28th, there is conflict of interest on Tobin's part, because Cline is not owned by Marret yet!  So I strongly believe, as do some member(s) of  management currently with my opinion that Tobin has to look out for Marret's interest, rather than the current shareholders of Cline.

 

What I do not understand is why did they not appoint these two members when the financial structuring took place, why now with only few weeks remaining.  The markets got way over excited about this, and now have realized wait a minute Tobin is not on the board to help secure alternative financing to the Marret Plan, but to see the Marret Plan goes through!

 

But, the more I think about it, a white knight needs to realize Marret is only offering just over 4.0 million for just half the company if the rights are exercised by current shareholders.  And this white knight needs to just invest min. of $35million in Cline right now (as part of the Marret Plan) and payout the bondholders when the term comes due.  Basically the white knight does not need to take the entire risk of buying out the entire company, but rather get in for some piece of the action. And in doing so change the entire current management/board members (this would have to be a clause for Cline to get any new money).

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