Cline Mining Corporation T.CMK

Management NET weath down huge!

[cooper90]

At last check Bates had over 8,000,000 million shares and 5% of the company float, in the last 4 x months he has lost on paper over $10,000,000 million dollars based on my estimates - over 24,000,000 on paper in the last 20 x months alone.

All management options including the last round at $1.50 are now well underwater by 50% to break-even. So zero options vesting from grants in the last 3 x years....only prior and even those are now break-even so no money coming there either....WOW....

What does it take for management to pick up the phone and say....hey Xstrata here is what we have and based on the enviornment take a stake, buy-us out.........even $2.75 a share is 575 million....what a steal...at this stage if purchased you get no debt, 50 million on the bank, resource, fully upgraded mine worked on for the last 4 x years, 350 x million ton resource, and too boot 200 million in new captial equipment......

I would say yes....

[poubelle1]

or they could just wait for the company to go bankrupt and then pick up the assets for cents on the dollar. A big company like Xstrats is not going to bother with cline. The operations are too small and won't even move the needle on their earnings numbers(assuming cline can generate earnings.) I think the company should just merge with another small met coal company. An ideal candidate is

[pastafagoli]

Copper90 There is 50M in debt as they drew down both of the 25M notes.  The only reason they have cash right now is the notes!! They were off in their financing estimate by 85M last offering + 37M property sale to 50M in notes plus next offering.  Thats over 170M !!  With respect to the options - you are right they are worthless and any company with integrity would cease issuing

[smithski]

At 10.2Mn traded today, down .10 or 8.62%... - no supporting NR from exec, - start up phase with limited success in achieving production milestones - change up of mining crew (TK) - shiny equipment not operating at full capacity - drop in spot market price of coal (check the assumptions from the MD&A) - little info about the progress (check website) You be the judge, is there more to the story

[cooper90]

Pastafagoli......I'm not sugar coating it...but they are not $50M in debt, they have 53 million in cash, only just initiated the first 25 million on the CL, the second will be drawn in June as indicated...

[pastafagoli]

See extract.  OK, its not yet but April 30 and not June.  When they drew down the first one they were given 25M in cash and put 25M in debt on their balance sheet.  Are you telling me the 25M line was not drawn down and as such is available? Anyway, we will see on monday when they release.   The Company has also notified the Lenders of its intention to draw down on the balance

[cooper90]

Yes they are drawing down on the lines of credits  

[miner8740]

CNBC news reporting that the stock market may be in a correction mode, if you can withstand the pain for the next number of weeks, the hurdle may be clear for take-off, but for now it may be a pain journey to the bowels of the earth

[ritasun]

HeHeHe........

[kensin]

Sadly they are bleeding all over us. At this point they need a stunning reversal of fortune or they will bleed to death. Who would finance again in this risk adverse market, with coal prices dropping, no support from China  and the inability to hit any meaningful market. Somebody is dumping huge share positions and maybe there is a hostile takeover in the works. Speculation aside , when the

[miner8740]

WLT is going positive now, maybe CMK will do the same before the close