Cline Mining Corporation T.CMK

Dead End

[desperado76]

I have just sold 80% of my position at $2.08 so I can speak now to where this is going.
This company is sitting on a superb asset that in my mind will sooner or later going to be sold.
I had the pleasure of meeting someone who was in on the financing and has been to New Elk on a tour.  My decision to sell most of CMK was based on a discussion we had and I can tell you that this is going nowhere in the short to medium term.
The fact that the NR didnt mention any firm quantity confirms exactly what I was told. The stockpile at New Elk has barely increased, so they are not anywhere near what is required. Bates,friends and family hold this for the big payoff, but the word is that this is not the group to take it to the next level. Until we bring in a Calder type CEO this will languish much like WTN did under, Hogg and Byrne.
Does anyone here think that with big steelmakers taking the tour wouldnt be salivating at such a rich resource? Of course, but they are burning that 80 Million cash rapidly, and MHSA giving a green light is not a sure thing. Until there are 3 continuous miners running, this is not happening, and the street doesnt believe the group in charge will make it happen. At this time, I think they are F'ed.
If this was strong, Cline would be posting their own job ads, like Western did and like TCK is doing in the Globe every day right now. Having TK offer contract positions to me doesnt show confidence.
This NR really doesnt help except to keep things going. Stop the slide, nothing more. Noone is getting a straight answer as to how much is stockpiling. They could have filled a wheelbarrel full and called it commercial production.
If I am wrong, then this will continue to rise past $2.25 with strong volume. So far, the volume tells me the little pop is done, and when people realize this she is going back to $1.50.....maybe lower.

This is not a bash, I have no agenda, and I still own several thousand shares. Just putting in my 2 cents. I really hope this gets back to 5 bucks.
Good asset, hopeless management.

[victor188]

80%? How many shares do you have? 1M?200K? or 20k?

[Eigen337]

This post has been removed in accordance with Community Policy

[desperado76]

I own a pile of this company. Several thousand shares. I have owned some since 40cents. I also own a pile in the $3.00 range. I have enough to bend the ear of a pro who was there. They stood in the mine and were shown everything up to date. The stockpiling was mickey mouse, thats what concerned me about his opinion  the most.Maybe it is better to have TK handling the staffing, but it is all

[sunshine7]

If you really believed this, you would have sold 100%, put in a short and then posted this message. Difficult to trust many posts on SH of this nature which is unfortunate.

[tillbilly]

DesperadoIn a past life I too was a contractor for a large CDN oi company. One of the key reason's a company Contracts VS direct hire is risk Management.One of the key direct hire risks I see in the US is Union rules (or change thereof) and Healthcare liabilities to the employer.(Obama Care)The other major risk is of course is injury (workman's comp/OHSA). I would regard these risks as the

[stockhousepundit]

No one ever got hurt taking a profit.  But, to say that volume is drying up over the $2 level is contrary to what happened today.  Almost 2.5 million shares changed hands today and all of it was above $2.  I would hardly call this anemic for August.How long ago was "the pro" at the mine?Please, do not take this question the wrong way.  I agree with a lot of what you

[desperado76]

If you really believed this, you would have sold 100%, put in a shortand then posted this message. Difficult to trust many posts on SH ofthis nature which is unfortunate.I do believe it and thats why I sold. I need losses for this year so this is one of them. I dont short ever. That is a crazy game.If I am going to approach it with this type of mindset, then I will take the loss now when I believe

[TheJesus]

You need losses? wow what a great investment strategy?Why dont you donate to a charity for tax purposes then you might do someone some good.Yes shorting would be absolutely crazy too if not for the fact that prices fall as well as rise.Thank you for making it perfectly clear to everyone that you dont really know any experts or have anything to add to the conversation.If your intentions are to

[ark88]

What is it with people who post long essays when they sell and hardly string 2 sentences together when they're buying or holding a stock. Desperado, your essay makes very little sense. That's not to say that you may not be incorrect in your conclusions about where the SP may be headed. You base your selling on information from a guy who was in on the 86 mil. financing? So based on the same

[desperado76]

Folks, like I said. I still hold some, and I dont want to mislead anyone into believing CMK is not sitting on a great resource. My decision is based not on someone who bought in, rather someone who was there and was not impressed by what he saw with his own eyes. It was a site tour. The stockpiles were less than stellar, and the prospect of it ramping up short to medium term looks bleak. You get