Monday, August 18, 2008

Quiet around here (...quiet before the 'storm'?)

Oh boy, it's sure quiet around here! I guess most folks (blog members, posters) are enjoying their holidays (except for Carib, Production & Natik, it seems).



Questions for the Blog: (1) Is the Fortis deal now in jeopardy (perhaps), since no 'bridge financing' seems iminent? (2) Is Tim Gooch still on board?



Enjoy the summer (what's left of it)!

1 comment:

Anonymous said...

Big John, I'm enjoying the Olympic action. The scenes from China are intriguing. The Wall St. analysts must be on their summer vacations otherwise they'd realize that there are 1.4 billion Chinese who are desiring everything that we in North America have - cars, houses, condos, gadgets, you name it. The way the talking heads and media see it, the world will end immediately after the Olympics. I can see China taking over as the world's global economic superpower and it can't come too soon. Anyone here tired of the Wall St. bandits and their shenanigans that have crippled our global economies?

To answer your questions, (1) the Fortis due diligence has been underway for several weeks. They are not concerned about whether CMM is operating. Their focus is primarily the Lamaque mine. CMM is talking (negotiating?) to interested parties. The options are (i) sell assets; (ii) debt; or (iii) m&A. Your guess is as good as mine who they are talking to. I heard that SJ drummed up a lot of interest. What is SJ worth in this market? Who in their right mind would finance a junior these days? Who is near Val D'or that might be interested in merging with CMM?
(2) Tim Gooch is still on board and working to conclued the Fortis DD. The Fortis rep has been to Blaine and Val D'or so presumably TG has been bogged down ensuring CMM puts their best face forward. I wonder what PK promised him if he made the trek all the way from down under to find himself in the middle of this mess?

September is only a few days.