ok but with the massive amount short here , nobody would sell under small discount to 15 (busted deal discount) so where do they get the shares from? doesn't the co ledger book of outstanding shares have to foot?
hypothetically speaking if CLF was bought for call it 15 , what happens to the shorts? do they have to cover? if naked, is worst case 15 or do they actually have to find shares to buy and deliver so could actually go over 15? I know its not happening was just curious
can you explain "failed to deliver"? shares are short and not being covered? im assuming big naked shorts are thru black pools so they never need to cover ?
patience. big news is coming before july 17... (see july options call volume) personally I think its the "smart" shorts who are hedging knowing this is going to pop wide open soon
SUGAR LAND, TX--(Marketwired - May 22, 2015) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Mining companies in the U.S and elsewhere have shown significant interest in direct-reduced iron (DRI) technology as an added-value product to ore or pellet production. In North America, affordable natural gas and low iron ore prices make DRI economically viable, not to mention the fact that steelmakers are looking for furnace feedstock alternatives to steel scrap and iron pellets.
nice try but most people here are in the know. its VOLENTARY reorg by the co not forced. CLF has the dip financing (1st in line) CLF is major SECURED creditor which will see around 80% of the net proceeds from the asset sale .
yes and control all expenses as well as preserve the value of the assets during the process with the DIP financing . net net all good news
I think the range of 1-2b is within means so im sticking with 1.5b and agree with your rational. but as far as the other Q ("I don't think you could buy cliff for 15") $15ps is a very good price (triple) and I think the majority of sh would jump all over that right now if hostel tender came around
that's why you go hostile t/o now not later ...
im not hyping but why would you pay 2.5 for BL when you could buy the entire CLF company for that @ 15ps and get everything (I think BL only worth 1-1.5b )
where is the link to a source? this has to be a rumor NO WAY that high ir stock would be over $6 by now