Since I posted on this board.
Disclosure- i am out of CMK, sold off my position last year for a cap loss. I took a bath on this stock, believed in what mgmt was saying.
I would not be a buyer at these prices, too many unknowns.
1- Sales contracts ? What price will they get for the coal
2- Operating cost/tonne, no idea what it will be? GCE was as high as $135/tonne
3- When will they ever start producing coal, and how much money will they burn until then.
4- Absolutely no communication from mgmt.
You have got to give mgmt credit for getting the cash, last year financing at $2.75, and then the bond issue. Some pretty naive bankers out there.
Does anyone have any experience with class action suits. Can we not file one against the company. I certainly would participate. I am hoping to attend the AGM, should be interesting
I cannot file a complaint with the OSC, ( because of my employment,) but has anyone here attempted to do so. Bates and Co. need to be punished for there misrepresentation.
Not sure of how low this can go, there is no revenue and cash flow, no product to sell and no idea of whether this is a viable mine. Purely a gamble at this stage.
Good luck to everyone