TORONTO, Oct. 6, 2011 /CNW/ - Cline Mining Corporation ("Cline Mining" or the "Company") (TSX:CMK) is pleased to announce that Xstrata Coal has agreed to acquire 100% of the Company's metallurgical coal deposit within Cline Mining's Lossan property ("Lossan") for CDN$40 million, subject to customary conditions. Closing is expected to occur on or about October 12, 2011.
Immediate infusion of cash - enough to continue the rail spur and no worries toward a successful mine. Wake up Miner and Malplak! Better cover their shorts.