Cline Mining Reverses Some Losses from Yesterday, Up 39% at Midday
Cline Mining Corporation (CMK.TO) is up 2.5 cents to 9 cents at midday. Shares touched a high of 9.5 cents earlier.
Cline yesterday announced that it was unable to make the semi-annual payment of interest in the amount of US$2,500,000 that was due on December 17, 2012 on its outstanding US$50,000,000 principal amount of 10% senior secured bonds. The Company has been in discussions with Marret Asset Management Inc., which represents the bondholders, and is considering the options available to the Company. CMK fell to a new yr low of 4.5 cents.
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