GNI will cease to exist on April 6th, 2015, no "ifs", "ands", or "buts" about it. It's that simple, any remaining assets of GNI will be transferred to Glacier Park Company, a wholly owned subsidiary of ConocoPhillips at the time with current GNI shareholders receiving essentially nothing.
Fact: Great Northern Iron Ore Properties (GNI)is a conventional nonvoting trust, it owns and leases mineral and non-mineral lands on the Mesabi Iron Range in northeastern Minnesota. It owns mineral interests in approximately 12,033 acres on the Mesabi Iron Range Formation, including approximately 9,895 acres of leased and 2,138 acres of unleased mineral interests. The company was founded in 1906 and is based in Saint Paul, Minnesota.
Fact: In December 2005, ConocoPhillips announced plans to acquire Burlington Resources in a transaction valued at $35.6 billion. On March 31, 2006, ConocoPhillips completed the acquisition of Burlington Resources.
I get the GNI connection as pertains to the restart of industrialization in-country (USA), and the Glacier Park recreational potentials (like a natural DisneyLand that can be appropriately developed further. Montana is friendly to buisness and commerce.
The biggest reason i would own COP is Oil as energy is the real Gold. After the elections, whatever party gets in . . . Eastern Montana will see energy development (fringe of Bakan formations).
COP needs to get more into AT energy AND work with railroads to create to create more roadbeds and haulage cargo and tank cars into Bakan formation,etc. On this subject, I have thught up the idea of placing thin-film flexible solarcell coatings on sides of railroad tank and coal and transport cars. Imagine if investors could own dual energy carriers that produce solar electricity to on-board RR batteries. Further, that states and companies could buildout tank sideing storage sites (for strategic reserve AND energy parks)that feed into electrical grids. Wowza! Green energy bonds based on solar electrical backfeed bonds. One could proably get biggie hedge funds to own these and funds and foreign sovereign governments. Whoja!
Forget pipelilnes and go for safer and more environmental friendly solar/oil RR torage tank farms.
COP could drop suddenly (or slowly) down again . . . though you folks are right its a buy in this price range as inflation and investment in USA is plan to help restart world economy of exports nd imports. We ship raw mterials to them and they send us rich citizen and visitor spenders to jump start america.
Forget EU problems and lets get some good Japanese citizens over here. They are good workers and investors also. Recently, 8+ out of top 10 academic awards nationally sent to asians in USA. They are driven to succeed intellectually. Eductional is a national resource . . . where is ours? Can COP drop some edu monies on USA and tie that to hiring the best and creative students on summmer employments trys? COP needs to innovate. Even the Saudi are investing in solar and they are oil rich.
To me it is a SCREAMING BUY which I continue to do whenever money presents itself. Buy now and you will look like a genius in the years to come. Don't get caught waiting for that last dollar/s drop. You very likely will never see it and it is very unlikely you will be buying on the way up.