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- $500mil for BL, after expenses, LG should take it and walk away. This wil help further reduce debt and interest payment.
Dow has lost 2600 points from a high of 18265 to 15666 in 2 weeks and at some point this will stop.. may be another bad day or so. Futures are down 73 points as of now. Any way all this is good as markets now have some more room to move upside.
Also PBOC cut rate by 1/2 %. China needs more of a Consumption economy rather than depend on Exports.Rebuilding the infrastructure due to 3 major explosions could use a lot of Commodities internally including Steel and IO.
IT can use plenty of steel to build a long 3000 miles wall and should ONLY use American manufactured steel and NOT that Chinese or S. Korean #$%$.
bottom.. Georg Soros took a 500,000 shaers stake in Arch Coal and it went up from$1.25 to $3.85 up $2.59 or more than 200%. . I think some one will pay good money for CLF's @ Coal mines. May be Soros should buy them out right.
atrure.. By the way where are you located? Yes..ok..its a deal.
CLF closed up 8 pennies @ $3.31 on a very bad market day, and was up another 3 pennies in AH. We may hear a sale of remaining 2 MET Coal mines withing next week or so. That would be a big plus to lower the debt.
LG has done a great job of cost cutting., But US IO is CLF's ONLY Biggest Cash Flow generator and $15 Gross Margins are Not sufficient to service all expenses. Somehow ,LG needs to cut costs EVEN MORE to bring the IO /ton cost down to $40-$45 range to have $25-$30 /ton gross profit margins to gave positive earnings @ a selling price of $70-$75. AP IO is barely a CF positive or neutral and Coal mines will be gone soon. I hope CLF also gets some money out of BL and Wabush mines to pay down debt further.
atrue... And you didn't invite me and my wife?????? Guess you were Not in Cleveland. Mortons' is a great
Steakhouse in Cleveland You can invite us when CLF is over $5 and you visit Cleveland. Cong. on the sale of your property.