The mineral lease got cancelled by the state, so it is not an asset in bankruptcy court. The State of Minnesota can issue the minerals lease to whomever it would like.
The final nail in the coffin for Essar. The Essar people were a bunch of idiots and the CLF CEO called it that way from the start. No one on Wall Street believed the CLF CEO. He had this whole thing figured out well 18 months ago.
here is what the resident idiot ohtaegun posted when CLF shares were $3 on May 27th...
support weak - resistance strong
by ohtaegun • May 27, 2016 9:06 AM Flag
signs of a weak stock w/ no support.
his cuts thru support like a hot knife, but resistance is like a brick wall.