surf.. why do you think its necessary for CLF to release info on Coal mines sale week next? I dont get it. What is so peculiar about next week? I was hoping they should had released that info long ago. Obviously , the Coal mines are NOT yet sold or still in the negotiations. I am hoping LG could get this done ASAP and report it .
CLF will not go up straight.. It may or may not close at or above $4 today. still a big move up. But the down trend is broken
From $1 on 8/5 to over $7 yesterday. CLF should get great price on their 2 MET Coal mines.. at least over $500 mil Now. All commodities are beginning to move up. FEX is up huge too as Carl Icahn has taken a stake in it now. CLF can get easily above $5 by the end of 1st week of Sept.
@$3.73 up $0.45...Shorts eat your hearts out... oht..believe, clf and more!!! I think commodities Cycle has stopped going down and ready to turn around.
I was gone all day and glad for all the LONGS. atrue ..better get ready to fork out a Juicy Steak dinner in Cleveland..lol
haha.. I am waiting for you to buy. In all seriousness, wih t the slumping IO and Coal prices, LG, I hope, needs to act fast .. No time to be wishy washy..and this has BEEN GOING ON FOR MONTHS.
CLF must sell 2 Met Coal mines w/o waiting for getting any terrific price. Get the best price that is offered and put this thing behind and use it to reduce debt. . Commodities are NOT in a big demand now. . Beggars cant be choosy. This has been lingering on and on for last 4 months now w/o any resolve.
clf.. .I thought you were a paid basher for Shorts.. but you are even worse than that.. Where do you get such crazy and ridiculous ideas?
CLF doesn't have money to buyback 15 mil or 10% of CASA shares @ $25. That is preposterous and absolutely absurd to even think about it.. They should rather buyback some 25 mil shares in open markets for $80-$100 mil.
It was UTTERLY STUPID to spend $5 B on buying BL mine. IO was at $190 /ton at the time and now its $52. I say take the best offer you can get and run with it... $0.5 B may be the best CLF may get. i don't see IO getting to over $100/ton in next 10 years. Times for all COMMODITIES are very tough.
I say sell BL if net proceeds after expenses are $0.5B and reduce debt and interest further. This will instill confidence in the minds of Investors for CLF as viable Entity.
CLF holding up well in spite of 2600 points loss in Dow. It should be around $5 by the middle of Sept. and If Announcement of coal mines sales very soon, it will get to $8 by the end of Sept.
Even if they get $400mil- $500mil for BL, after expenses, LG should take it and walk away. This wil help further reduce debt and interest payment.