Cline Mining Corporation T.CMK

Good asset value and equity

[pastafagoli]

There is a lot of book value left in the company.  With close to 300M in assets and under 100m in debt there is good equity.  The problem is all the asset value is in capital equipment and the mine.  Brand new shiny machines are nice, but who is buying coal mining equipment right now?  I hope there is enough collateral value in the capital equipment to give comfort to the bond holders to waive action on the default and give them another 6 months.  Post fiscal cliff the mood and environment for coal might be better to hopefully take the edge off some of our losses here.

 

Pasta

[ckstar83]

this comapny is done, they should of taken some sort of action whether sell their gold property for a million or so or take the government money for a few million, but they dont give a flying f  uc about shareholders, just themselves, this board is discusting, and william mcknight is a complete dishonorable human being.   he does nothing for this company, william mcknight has done

[Prof_JD]

Pastaman, i dont think you know what you are talking about.... the company isnt even able to pay its interest on debt or pay its dividend to  bondholders it will be going bankrupt by the sound of things why dont you go eat a big plate of Pasta and think of what i said if you are not too tired afterwards. cheers jd the prof

[bulkbeef]

Exactly.  In my opinion Cline will be delisted soon and will cease to exist by this time next year. 

[soladades]

Won't take that long IMO. 3-4 months out. YIKES~!

[bulkbeef]

You're right.  What a nightmare this stock has been.  This stock was trading over $4.50 Jan of 2011.  Now trading at around 6 cents, and heading towards delisting and bankruptsy in my opinion.  A lot of people lost a lot of money on this.  The writing was on the wall for some time though. 

[Prof_JD]

Beefman, they will be delisting imho, because it has fallen so far and so fast. A stock does not fall from 4.50$ to 6 cents in less than a year without getting delisted imho, this is a real possibility. Care to join me for some Spide Dumplings tonight in order to talk abou the 65Percent rout today of CMK paper jd the prof -

[bulkbeef]

In my opinion the company doesn't have even close to the amount of cash they need to fund mining operations.  When you don't have cashflow, and fund your operations with debt, and that debt comes with interest payments, you better be darn sure you can make the interest payments.  in my opinion, the bond holders will get the assets and the shareholders will be left with a penny or

[miner8740]

check with the people in town, new miining equipment may be leaving the site to pay the high top wages for the new ceo and assistant deputy , equipment buyers may be all around, do they have funds to cover the power bill or let the mine flood again, shareholders should get the sherrif on site to prevent cmk from selling any mining equipment

[pastafagoli]

Gentlemen I've spent some time working in restructuring and bankruptcy so I know a thing or two.  Things are looking bad and yes bankrupcy is very likely BUT when you look at the balance sheet its not bad.  Most bankrupt companies do not have 300M in assets and under 100M in debt.  The problem is cashflow.  Think about it - a measly 2.5M payment compared to 300M in assets

[bond46]

No need to be paranoid miner 8740, as long as the company is not under chapter 11, noone has the right to stop the management from selling the assets or do whatever wishes with them, Sheriff or no Sheriff. If the company is put under receivership, then it loses all jurisdiction on the company assets and the Sheriff can intervene, but not till then.

[nanaimo16]

300M in assets and 100M debt. As we can see cash flow is the killer here. Typically an outfit needs to be able to either sell assets that cannot destroy the ability to operate. One would think stockpiles go first. Another option is to sell back some of the equipment purchased and then Lease the equipment back. They could be very close to covering the $2.5M and simply have just mist the payment

[bellsh]

Say what you want, anyone still holding stock in this company is dilusional.  Bates is riding this retirement party to the ground.  Period.

[nanaimo16]

well I have  only held stock in the company for a few hours and dont feel delusional yet, and I dont expect a rought nite

[bulkbeef]

There are several people here who took their proceeds from the Western Coal buyout 2 years ago and invested in CMK, and were touting CMK as the next big coal company to run hot.  Well, it ran alright...The opposite direction!  From over $4 a share to .05 cents today.   Put a fork in this one folks... It's done!

[bond46]

The funny part is that the mastermind himself, Bates, has bled to death with 1.8million shares turned to dust and I am afraid that he will wait until all the " riff-raff" anonymous who have been giving him a black eye through these boards sell all their shares and then he may pull a rabbit out of a hat and surprise everyone. This man is not simply an idiot but a dangerous idiot

[miner8740]

management may keep the pumps running