Cline Mining Corporation T.CMK

we need a word from our CIO, coalmnr

[bond46]

Coalmnr, what is the latest on the ground; is the mine closing, stays open, or what. Any new rumours from the grapevine? Give us an update if you like. What do people think of the new financing?

[riverrocks]

Yes i would like to also hear from our CIO . After all i owe him a drink.

[xo42]

Bond any idea on the terms of the deal? Do i see correctly that the conversion price is $0.005?

[bond46]

No, have no privy info, whatever info there is, you'll find at SEDAR or the NR by the company. What is interesting is that the market votes with its money which tells you something. In the next few days, if the stock goes up, there is hope that some deal is in the making, and my sense is that there might be a JV or something of that sort.

[riverrocks]

I am thinking the same thing is going on. After all how does a otc stock jump up to 4 back to 2 . Someone is tring to keep a lid on this thing. Same game as before the ones with loads of shares selling them cheap to steal them from the ones that have few. As i have posted i have a boat load and picked up more today. This has been one fun ride from $5.00 to less than a quarter of a penny. Not a

[xo42]

Ok. Nothing privy here. I checked SEDAR. Looks like conversion is at $0.005. So that gives Marret around 91% of the company on the $9+ million if my math is correct.

[bond46]

Not clear what you mean by "conversion price", do you mean if Marret were to convert the bonds into equity? The value of the bonds to be converted would be the total worth ot the bonds some 75million dollars but we don't know the conversion price unless Marret declares it. My take is Marret does not want to be in the coal business that is why they cancelled the first agreement. And

[riverrocks]

Thanks bond I like how the new guy shows up and post half info. Could this be our first basher? nice day good vol , nice close 0.03. 

[xo42]

Please go read the documents on sedar. The conversion price of $0.005 is there. So if Marret wanted to convert the $9.5 million of debt they just gave to cline, they get 95% of the company and still have their outstanding $65 million of debt. That seems like a better deal than the last deal to me. What are shareholders left with? Why wasn't the conversion price in the press release?

[bond46]

You're right there is a conversion price, unlike the previous bonds, of 0.005 which means if Marret were to convert, Cline would have to issue 200 million shares at 0.005 =10million dollars the value of the new bonds. But this piece of info was not published from the start on Sedar; i was not aware that they posted it today. It certainly says a lot of what is going on behind the scenes and