LG tried to get 1,2, or 3 partners with 30% equity in BL mine but no one came forward and that's why BL was put in BK to save CLF the parent company. So I don't see Nucor or Accelor Mittal participating in taking a part ownership. The best hope for CLF is someone bid for the BL with the help of Quebec Gov. and CLF get some money after paying off all debt to reduce their debt.
SB IO prices for 62% Fe content are for Fines and Lumps. CLF is NOT in IO fines and lumps. They have pellets which contain anywhere from 66%-72% Fe. IO pellets with 62% and 63% Fe in China and India sell for well over $100/Mt plus Vet Tax even when SB IO price was around $50. So I don't see much change in prices when they renegotiate new contracts.
What is killing CLF per Analysts and WS is too much debt and too much interest. If they get some relief in reducing debt by selling BL and Coal mines, Interest cost will go down significantly and Analysts will begin to recommend UPGRADES and BUYS for CLF .
red.. LG was talking about the Loaded gun when Stock was around $6 and Sam Dubinsky of WFC had a target price for CLF was $4 and LG was mad about it and indicated in the Q-4 ,14 CC that if the stock gets down to that low price, he will use his loaded gun sitting on his bedside table.. what he meant to say, I think, was that if CLF stock went down to SD's target price of $4 , he will use his weapon of Buyback shares. The stock is now under $4 and its time that LG Buyback shares.
surf..you project a rosy picture for CLF every time . If the MNGT was so good and the company is doing so well why doesn't stock make a meaningful advance in spite of good Q-3 Q-4 and Q1 earnings? You are very optimist but Shorts know what you don't. LG promised to sell a lot of stuff and has done very little. Yes, he needs to sell all Non-core assets and solve BL situation.
Why are you here? for fun? to lose money? we are here to make money on our investments and CLF was @ $18.41 on 8/11/14 when CASA and LG took control. If LG is doing so well why the stock is at $3.86 down 80 % in less than an year. I know Kirsch was bad and thats why most of us here voted for CASA and they lost almost as much in one year as Past MNGT lost in 3 years here. He hasn't done what he promised . He talks a lot in CC but NO Follow up actions and we all
longs are tired .. may be not you and lishe
No weak minded long here.. but just practical and tired of this stock run by Shorts and MNGT just mum on defending the company. Elon Musk defends Tesla at every opportunity.
Write to Speaker Boehner about this. Yes the dumping must be stopped or apply huge anti-dumping duties. LG should drive down to Cincy from Cleveland and talk to the Speaker at his home
imagine .. you are right . LG and CLF reported earnings for Q-3, Q-4 and Q-1 (Q-4 and Q-1 earnings were great) but his efforts are wasted. He is NOT able to relate to WS and Analysts on a LT basis. Analysts applaud him for his efforts in the CC but then they get out and go on bashing the stock and Short selling. He needs to hit the MEDIA trail going on the CNBC and Bloomberg every chance he can get and explain his strategy to put CLF on a solid footing.
But Why????????? US Economy is doing great, Auto sales are brisk and new home construction is doing very well and they all use Steel. Is it related to cheap imports or CLF''s poor balance sheet? Otherwise this stock deserves a price of $7-$8
rps, shorts are making money and we longs losing it. My IRA account value is so badly depleted with ave. price of $12 of 10K shares.
Down almost 11% @ $3.68 while Vale up 4 pennies. What a trash CLF is and MGT people sleeping at their desk. Paul Finan must be having a good snooze. This is even more than capitulation.. We don't know what BAD NEWS are
How could Shorts be so daring at this this low low price. It has to do with the amount of Debt and Debt only.LG can take away their weapon in a minute by buying back shares .. as simple as that.
Heavy Volume..Over 8 mil shares already traded .. daily ave. trading volume is about 8mil shares. May be Capitulation????????
That LG had it by his bedside to buyback shares? Did Shorts stole it??????? Now is the time for LG to come forward and buy back some 50 mil shares leaving only some 100 mil shares outstanding..
Well said... I have NOT seen any company Not defend when the stock keeps going down for NO apparent reason.Now is the time for LG to use $200 mil that the Board has authorized for the buybacks. Even if he uses only $100 mil, he can buy almost 25 mil shares and scare the shorts away. I really do NOT understand LG's strategy. Does he really want CLF stock to go down further well under $4?