clf should annouce a buyback program, just to get started
The chromite situation will get approved.
clf is profitable at these levels.
Should be trading close to book value $30
Sentiment: Strong Buy
No buyback needed, management just needs to come upfront and layout their current average iron ore contract price and take this concern about spot pricing off the table.
Some company will want to get their hands on their chromite project. Look for a buyout or a joint venture in the very near future.
Where do they get the money to buy back shares?
Borrow it from China