red..LG rather make Share Holders suffer than sell Coal mines..lol. Glencore and X2 resources are both in the market to buy Rio's coal assets in Australia. May be LG should approach them to buy Met Coal mines here.
imagine.. Both Mr. Glasenberg , CEO of Glencore and Mr. Davis CEO of X2 Resourses are bidding $3B for Rio Tinto's Thermal Coal assets in Australia per today's WSJ. One of them should consider buying CLF's MET Coal mines instead. ..Much better and more valuable than thermal coal. I bet one of them can buy both mines for around $200mil-$300 mil.
South African Mines enlist Robots to cut production cost per today's WSJ. May be CLF should think about it here in USA
Construction spending, Auto sales are setting records and even new housing is going up nicely. There is No reason why CLF can,t make money in Q-3. No excuses about SB IO prices . Per their CFO KT, their
realized price of IO in USA was $84/Mt in 1st HF. I do Hope they surprise WS. LG has done that before and hope he can do it again.
You are just a FOOL.. you come here once in a while, and defend MNGT w/o knowing anything. They can sell their Coal mines if they want to like others have done. There is always a buyer .. may be not at the price LG wants. Beggers can't be choosy. Take the damn money reduce debt and they will have NO/ Capex operating expenses for mines. As simple as that and SP will go up.
oht and other bashers show up with their posts only when SP starts to go down. I said the same thing on Wednesday.
Oht is shorting . what do you expect to hear from him except bashing the stock.. do you get it? I know this company well as I live in Cleveland suburb and know a bunch of people at CLF. After 2 years you get tired and frustrated of seeing the stock price going keep south. It can be easily turned around as it has a IO monopoly in USA
What is the purpose of owning the stock? and since this guy became CEO, the stock is down from $18.41 to $2.40 down 85%. and You saying he is doing every thing right? how wrong are you.. thedeathrace?.Read the headline of this post. it says Vale, BHP etc are able to sell coal mines ..so why cant LG sell then? In the name of getting right price he is losing more money on them instead selling them and using cash to reduce debt and also SG&A..
songwriter..No.I sold it when it was $28. I think they have some guard rail problems about manipulating or fudging some strength numbers data and lots of law suits. But their earnings seem to be good . So I dont know whats going on. I don't follow it any more. From CLF, I have learned a big lesson and now only go into very strong stocks such as KO,T, PFE, BMY, BAC,GE,MSFT,EMC etc.
I know and just wonder what is LG's excuse for not selling 2 remaining Coal mines? e wants to get a "RIGHT PRICE"?Iin this poor environment for commodities sxpecially Coal, its best to sell at whatever the best price CLF can get to reduce debt and GET DONE with IT.
This is a simple company to operate.. 4 mines here and 2 in Australia. get rid of every thing else and just reduce debt and make the company profitable by bringing expenses under revenue.
I can not defend this moronic MNGT any more like lishe does Enough is enough. LG just talks a lot but No actions. He could buy back at least 40 mil shares for under $100 mil if he wants to. and kick the Shorts out. But I dont understand what is his problem.
I am tired of people like lishe and surf keep giving excuses while this company's Financial strength and SP keep eroding inspite of near monopoly of IO in this country. Just SELL both Coal mines for whatever NOW and save on SG&A expenses to operate and any CapEx on it.. Only way I think CLF can show profit is by Cutting expenses more to the Bone and Improving US IO margins. I now agree that the Q-3 may be in Loss. How I hate to see that and hope I am wrong.
Neither would I? LG talks a lot but NO actions. The Bottom line is expenses must come in line or UNDER Revenue to show profit and a good CEO and CFO just do that.
The SP is almost ready to hit a new low .. 8 cents to go. and we are praising LG for his MNGT On what grounds? This stock is down now over 85% i n less than 14 months since LG took control inspite of CLF having a near monopoly in US IO market. I cant defend him. He hasn't produced results that he promised. about selling assets and producing profits. The Street is expecting CLF to lose $0.25 in Q-3 and the debt and interest payments are still too high. He should sell Coal mines at any give-away price ..may be even for $100 mil to save more on SG&A and any CapEx.
CF needs MUCH MUCH better salemanship to deal with and establish LT relations s with steel companies to expand US IO sales at least around 22-mil -25 mil Mt. Construction Contracts and Auto sales are at or near all time high and Housing is still doing very well and I can't understand why their business is so slow. I can't blame all on just steel Imports. Its a L ame excuse.
CLF needs BADLY positive earnings in Q-3 or it is doomed and SP going under $2 easy.