Cline Mining Corporation T.CMK

Another BNN Mention

[miner666]

Mentions managements skills or lack there of.

https://watch.bnn.ca/#clip616487

[pastafagoli]

I have to disagree with M Decter here as he indicates the mgmt team has some skills mining coal - obviously they don't.   THere is a lot more to the down stock than a botched financing as he says - thats only a small part of the story the rest is lack of production and mgmt credibility.  Lets hope they turn this around.  I an concerned that he has not bought back in.

[miner666]

I too thought that sound bite about them being better miners than financiers was comical. Another funny thing is how everyone on Bay St. knew they needed financing but the retail invester had no idea  as we were still under the impression, as per the NR, that future expansion was to be paid for by production.  Hmmmm...!  

[oilismoney1]

I agree with what you say, anyone one who follows these circus clowns on BNN will probably loose their money. All they due is pawn of their garbage that they are stuck with or pump some stock that they bought for nothing six months ago Same thing on stockhouse or any other board except its on T.V. What  people really need to be concerned about is that we are into week 7 of a bull run, how

[Eigen337]

This post has been removed in accordance with Community Policy

[ark88]

Wasn't it somewhat obvious that mine development and production was management's weakest skillset? No secret, just look at the organization and the personnel. After Gormley left, it took some time for Mraz to be brought on board and only after New Elk. Except for Hendricks, the entire board looks like a seniors residence for former cabinet ministers. Really, at the end of the day, it's

[ark88]

In my last post, I should've also mentioned these 2 executives that were hired after the purchase of New Elk. For some reason, I've lost track of these guys. Not even sure if they are still involved. Anyone with an update? John McCulloch served as Vice Chairman and Chief Executive Officer of New Elk Coal Company, LLC, wholly-owned subsidiary of Cline Mining Corporation since September 2008

[ravensbranch]

McCulloch was let go due to not agreeing with the board. Funny, he was the only one there with mining experience.   Coverdale was let go almost as soon as the takeover occurred. They put the whole Cline project together.  They knew more about the project than anyone. Coverdale did the initial development work on the mining project. He is a geologist. He is presently developing a new mine

[ark88]

Ravenbranch: Thanks for that. Have you been to the site recently? Any word on where they're at in terms of production? Thanks in advance.

[ravensbranch]

not in about 8 months. I am curious as to how much coal they have sold. The interesting thing is they had several million tons of coal they could have mined in the Allen seam from day one. I never understood why they didnt go after it from the start.  Maybe it was a conflict with their mining plan. Have you received any production numbers through December 31st. Thanks

[ark88]

Management had a news release stating that they will have about 30k tons of saleable coal by Dec. 31, 2011, all from Apache. Assuming they have the Allen mine up and running as projected, they should have about 50k tons by now from Allen alone.   In a couple of weeks, we should get the Year End and an update on production and possible sales. If either of these aren't up, then we may be