Opinions
Alice Tsang
Cline Mining Corp.
CMK-T
DON'T BUY
Aug 31, 2012
$0.225
Stock price when the opinion was issued
Mining
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COMMENT
Have a project in the US that they are ramping up to 2,000,000 tons. In the short term, they have been way behind schedule in ramping it up because of technical issues and CapX requirements. Expect they will only do a half million tons this year. Still don't have a buyer for their coal, which is not the highest quality. They probably need $130 to break even.
Mining
WEAK BUY
If you are a long term player, there would be value over the next few years. Stock has run up quite a bit. Perhaps technically it has been overdone to the downside. Mine has been shut down but they have quite a bit of resource in there. A high risk play and wouldn’t put too much money into it.
Mining
SELL
Stock bounced quite hard at the bottom. If you own, take some profits at this point. Still have some struggles on offset agreements with customers. Currently have a mine running but will need to refinance at some point. If they can not get customer contracts, she doesn’t feel the stock will go anywhere.
Mining
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Have basically disappointed investors in bringing their production on line for the last 2 years. Finally they were able to make progress but with current metallurgical prices, it is not economic so management shut down the mine. Pretty much dead money.