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Market: TSX
Sector: General Mining - Coal
EPIC: CMK
Latest Price: C$0.80  (0,00%)
52-week High: C$2.89
52-week Low: C$0.58
Market Cap: C$166.90M
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Cline Mining Corporation
www.clinemining.com

Cline Mining is in the business of acquiring, exploring and developing mine mineral resource properties to production in Canada, United States and overseas. The Company is a growth-oriented mine finder, developer and operator with an experienced management team and is supported by its strategic international corporate partner and shareholder, Mitsui Matsushima, a Japanese coal miner and conglomerate, which is also represented on the Cline Board of Directors.

Cline is developing its Lossan and Lodgepole metallurgical coal mine projects in British Columbia, Canada – C.I. 43 101 compliant Reports and feasibility studies completed; extensive diamond drilling program in progress at its Cline Lake gold property Ontario, Canada; additional iron ore mineral exploration on extensions and step-out areas at its Bekisopa, Madagascar iron ore properties; development of its New Elk metallurgical and thermal coal mine property in Colorado, U.S.A.

Full Cline Mining Corporation profile here
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Cline Mining's shares surge 20% after New Elk Coal Mine in Colorado receives US govt approval

23rd Dec 2010, 11:34 am

Cline Mining's (TSX: CMK) shares soared more than 20% on Thursday after the company announced it received US government approval for its mining plan at the New Elk Coal Mine, located in Las Animas County, Colorado.

The company said the US Mine Safety and Health Administration (MSHA) has approved a mining plan which permits underground miners to drive into and mine coal from the Apache and Allen coal seams at the New Elk property.

According to Cline, coal miners have already begun coal production in the Apache coal seam, after which mined coal will be loaded directly onto the recently-installed conveyor system and transported to the surface coal stock pile, from where it will be fed into the 3 million tonne per year metallurgical coal processing plant.

The company expects production to increase steadily over the next year, with the goal of reaching the rate of 3.0 million tonnes of coal per year by the end of 2011.

Cline said that the in-seam coal qualities reported from the recent drill cores show the coal to be in the "premium high-vol" category.

Cline's New Elk Coal Mine has a mineral resource estimate of 315 million tons of coal in-place (87.6 million tons measured and 227.4 million tons indicated).

Aside from its project in Colorado, Cline has interests in coal properties in British Columbia, as well as iron ore properties in Madagascar. It also owns the Cline Lake Gold mine property in northern Ontario.

The company surged 20.5% on Thursday to close at $3.52 on the Toronto Stock Exchange.

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