The situation at CLF is a complete mess and it has not helped the stock price. Think that we should be thankful that MJS & Kellogg worked something out.
p.s. as far as I know Kellogg has no position in CLF.
I'm cautiously optimistic. As you mention having the 2 largest shareholders on the BOD is huge. There are a number of potential upside catalysts which in due time will hopefully translate into an increase in stockholder value. In regards to the dividend I've always viewed the Wabush royalty as being the cash flow that funded it so I do have concerns as to what is going to happen and am disappointed that management has not communicated anything to shareholders.
Think it's safe to say that Smith and Kellogg own/control 40+% of the outstanding shares so I don't see how another party could win a proxy fight.
Who is the activist???
No luck finding it here as well......should have already started so hopefully can track down a recorded version later today. Very poor investor relations though...........
Think we can expect to see another HNZ type deal and certainly they will keep adding to DVA until they reach the maximum ownership amount that was agreed to. WEB also mentioned that he's been buying an English stock.
Sentiment: Strong Buy
Have owned for a few years and all shares are in an IRA. What attracted me was that it was an asset play with a nice dividend along with a free call option on MJS's deal making ability. I'll be the first to admit that the stock performance has been disappointing but I continue to believe that something will occur (i.e. huge deal by MJS, speculative frenzy in rare earth minerals, etc.) where the stock will have a nice upward move. Time will tell.
WEB discusses two different real estate investments that he made. Reality is that the average investor would have very little if any chance of making those purchases at the price and/or terms that WEB did.