Cline Mining Corporation T.CMK

Major News Before February's End ?

[bobsmith1]

Read this closely.............or am i imagining things ? I guess the question is whats the strategic alternative and the other question is what are the offers valued at ?

 

CLINE MINING RETAINS FINANCIAL ADVISOR TO ASSIST IN EXPLORING STRATEGIC ALTERNATIVES

Toronto, Ontario, Canada – January 22, 2013. Cline Mining Corporation (“Cline” or the “Company”) (TSX:CMK) announces that it has retained GMP Securities L.P. (“GMP”) as its exclusive financial advisor. GMP’s mandate includes assisting the Company in exploring and evaluating strategic alternatives to the recapitalization plan with Marret Asset Management Inc. (“Marret”) previously described in the Company’s press release dated December 27, 2012 (the “Marret Plan”). Under the terms of an agreement with Marret, on behalf of certain bondholders of the Company, the Marret Plan will be implemented unless, by February 28, 2013, Cline has received a non-binding letter of intent for a transaction that meets specified criteria and, among other things, such transaction closes by April 30, 2013. With the assistance of GMP, the Company is in the process of soliciting proposals for possible alternative transactions with a view to maximizing value for the Company and its stakeholders.
The Company also announced that the Toronto Stock Exchange (the “TSX”) has granted the Company an exemption from the TSX’s shareholder approval requirement, on the basis of financial hardship, with respect to the provisions of the Marret Plan that would otherwise be subject to shareholder approval under TSX requirements.

[shane117]

Tha strategic alternative is to sell the company instead of diluting the shares to 4 billion.

[jameslote]

Can I get a plain english translation of that press release?

[bobsmith1]

Yes agree with you there,i picked that up after spending some time dissecting the public filings on SEDAR. My question is to whom and for how much. Now the irony of that rhetorical question is not wasted on me as yes I do realize thats the question on most peoples minds. However, interestingly enough the fact that coal will have its day again, and that will increase the current value of the

[bobsmith1]

That is plain english, securities law speak version. Basically it just lays out actions to be completed and timelines to complete them by. With a mention of a plan "B", if required. What you take from it is that its going to be an interesting month coming up here.

[unclesam2]

The "strategic alternative" is the attempt to get a better deal than what the Marrett Plan is offering. Fundamentally, it means nothing till you actually  get  an offer which can be measured in $terms and then compared to the Marrett plan. The shares before the last 3 days, were priced as if the company will eventually go to the debt holders. Now, the market is trying

[bobsmith1]

I would expect most of your buying is rather not those who are "hoping" for a return on assets. But moreover, those who have a vested interest in either a close or arms length way, and have received "wind" of a deal of some sort. Either way, yes, February will be interesting.