He could though buy 100,000 shares today, right now, at market, and that would do a world of good immediately to turn this thing. But he seemingly has left that out of his equation of what he can and can't do. Why shouldn't he buy, as he has been touting the turnaround hard but to no avail in the price. Therefore he sees it as very undervalued, right? It's not a good sign that insiders have only made a few token purchases with this thing at historic lows. disappointing.
Alienated just about every last analyst. They have decided not to lift a finger in support of his work, after his massive dissing of certain skeptics from their community. He ought not have behaved so childishly. Look for the historic decline to continue as the analyst community steps aside from this falling knife. It's too bad he scotched it so badly on that front, because he has otherwise performed decently so far it seems in the restructuring of this listing behemoth. But protecting shareholder value also means managing Street relations and he's failed at that so far.
Bloom Lake – in northeastern Quebec – is “the cancer that we have to take out” as Cliffs retrenches to focus on its U.S. iron ore business, Mr. Goncalves said in a telephone interview Tuesday.
The company said in November that it was “pursuing exit options” for its Eastern Canada iron ore operations, estimating its maximum exposure to close the Bloom Lake site at between $650-million (U.S.) and $700-million.
“We were going through chemotherapy and that didn’t do it. Now the [cancerous] limb has been cut off,” Mr. Goncalves said in the interview.