Compliance Energy Corp CPYCF

Itochu (I-Comox ) getting cold feet??

[coalbad]

I noticed Item#19 "Events after the reporting period" in the CEC Consoilidated Financial Statement (December 31, 2011) that " A cash call was made in January 2012. The Company and LGI participated but I-Comox did not and suffered dilution." Could it be that Itochu (I-Comox), one of the joint venture partners is getting cold feet?? Any comments on why Itochu would take a pass on the cash call and suffer dilution?

[2guys]

You brought up a very good point coalbad, and I can't give a definitive response only because I haven't been able to get one myself, so I will speculate.   It's no surprise that the coal from Raven will be shipped overseas, and CEC has partnered with 2 major players in the marketing and sale of coal internationally, especially Asia, where the majority will be destined.   This

[Mountainman2]

2guys, Quote: "IF" Raven gets a permit and eventually constructs a mine, I'm thinking 2-3 years from now....... As I have told before, the LNG terminal(s) in Kitamat BC start up projection date 2016, designed to ship product from major Canadian natural gas producers over to the whole Asian sector and IMO will put coal, whether it be metallurgical or thermal into the past. The

[2guys]

I realize from reading your very first post on this board, that you're not that familiar with CEC's business plan, nor their product Mountainman2, but it's always a good idea to do your own dd and ask questions.   You can't make steel using natural gas, but you can by using Metallurgical Coal.    Not long ago, an environmentally friendly poster said that

[coalbad]

On the Itochu issue, I was looking at the CEC website this morning, specifically at: www.theravenproject.ca under the heading " About Compliance Coal dba Comox Joint Venture. I've cut and pasted what it now shows: About Compliance Coal dba Comox Joint Venture The Comox Joint Venture was formed in February 2009 to develop the Raven Underground Coal Project. It is 60% owned by Compliance

[2guys]

I think this is what you may be looking for coalbad, taken from their most recent Quarterly financials;   "In January 2012, the Company and its joint venture partners agreed to modify the terms of their joint venture such that a joint venture participant can elect not to participate in cash calls and take dilution instead. The joint venture agreement is in the formal process of being