Ok.. but where they are going to get money to develop the project? No one yet has shown any interest in providing money and sharing cost, and banks are going to think twice before they loan money to CLF because of their huge debt already. In the meantime they are losing any money they are spending now on this project. I know ferrochrome can bring in alot of money and its a very lucrative business but what can be done if you don't have any money. If the prospects of this project are that great, someone will want it badly and CLF may get a premium price for selling it. In my opinion, I don't think they can develop this chromite project on their own.
The developing cost for this project is estimated to be $3.3 b and clf already has debt of $3b almost equal to its captalization value.. So where in the hell they are going to get money to develope their chromite project.on top of that,canadian government is not sharing any cost to build a road to get to this mine as its in the remove area.. Even though this project is on hold since june has a great prospects. So what can they do to develope it? they have not looked for any partner . The best thing for them to do is to sell it and use the money to lower their debt. It might bring in as much as $2 b. Hope the new ceo just does that since the cost of developing is huge and if they continue on this project, it might just bankcrupt the company. Any thoughts.here?
The bloody thing tanked today over 4%. Is that due to Twitter IPO threat? or does anyone has any other info.? In the light of LNKD,NFLX, TSLA and AMZN, ...FB's P/E forward at around 50 is not bad at all. So why all the commotions ?
This is great news and Futures are already up by $160 points . CLF should move up purty well to $23 or $23.50 on Monday imo. Also FB and gold stocks will move higher too in anticipation of Yellen( most likely to be nominated for Fed Chairwoman) Not moving the interest rates up much by keep purchasing bonds by at least $75 B per months thru the 1st half of 2014 imo again. Thank God for Summers removing himself from consideration.