Cline Mining Corporation T.CMK

look at the AGM

[bond46]

The new management most likely will make major announcements at the AGM. At this point I gather they are taking stock and see if they can get a breaktrhough to these dismal market conditions for met coal. Moreover, they have to come up with a plan for future financing. The money from the coal, if they sold it, is not enough to sustain the mine even on care and maintenance. Though it's a posititve that did away with the Rights plan and avoided dilution, we still don't know how they plan to secure financing. But I presume, when they decided to do away with the Rights offering, they must have had a plan B and I have every reason to believe Mark Haywood because he is a experienced and prudent operator. So, I would advise patience at this point.

[Beppone]

Marret has not declared Cline in default; something is in the works...

[pastafagoli]

What is left to do?  Marret valued the company so low that it blew up in their face.  If I were them I would sell the 70,000 tonnes at whatever price, sell the shiny new continuous miners and other assets, delist and lay everyone one off but hold the mine until a new round of suckers come by looking for a coal mine.  Its a huge writeoff for them at first.  We had our writeoffs

[bond46]

I would not blame Marret for the fiasco; the blame rests with the idiots that left through the back door in the middle of the night, Bates and co. They bit more than they could chew, paying upfront for the miners, $10million each, thus depleting all the company's cash and without having signed a contract! If stupidity was a punishable offense, these people should get life if not the death