I wish I had never heard of CLF....but how can you avoid it . It was a Go Go stock in 2011.. in its glory days especially if you lived in Cleveland area.
50 more days when 's Q-3 earnings come out....and I thought we were done with CLF pain when Goncalves took over. but pain continues and Shorts are having the last laugh.
Goncalves can shut up shorts and kick their butts but only if he will sell Canadian money losing assets at whatever the price he can extract.. until then, Shorts have his NUMBER and will keep shorting and as Seaborne IO price keep going down so will CLF stock price and Shorts know that.
isurf... excuses excuses! !look at where the CLF stock price is now under CASA. and they were the once who were barking about Kirsch and his management DESTROYING 85% of SH value to get votes and they are doing the same...absolutely NO change and stock is tanking even more well under $15 now.
CLF stock will NOT GO UP until they sell the money losing Wabush and BL mines at whatever the price CLF can get...even at fire sale. They are Money Drains on this company and Must get out of them. Didn't CASA say they will sell or spin off all INT assets when they were looking for votes. Liars.. then follow up and get out of them.
And stock taking a toll. CLF Down 20% since high of $18.30 on 8/9 under Goncalves. IO price to remain between $87$ and $89 for next 2 years based on futures trading. CLF MUST MUST get out of Seaborne IO . Cant compete with BHP who is increasing the IO production in order to drive down the price and getting rid off High cost producers.
Goncalves MUST SELL Wabush and BL mines at whatever he can get and use it to pay down debt and concentrate more and more on US operations. He can wait on Asia/Pac assets to get better price as it is still profitable and some Chinese miner will buy at a decent price since they are looking for IO Mines with 62%
FE content. So Goncalves SELL Canadian assets at whatever price you can get or this stock is going to $10
Its different with Cliffs unlike BBY. Its fortunes fluctuate with Seaborne IO price. Fear of IO price can go down to $80 makes it difficult to go up in price until they stop losing money on Wabush and BL Canadian mines. Until we get rid of atleast these Eastern Canadian mines which are not competitive or cost too much to maintain when closed down or not running at full capacity CLF will keep losing money and SHORTS know this. Goncalves must sell them and pocket whatever CLF can get to lower the debt Only then it will take pressure off the stock price.
Asia/Pac business is still profitable and Cliffs can wait to extract better price from some Chinese Mining Co.
Once Cliffs exits the Seaborne IO business , its stock price and earnings will advance at a rapid pace and they will be able to service wharever debt they will have left.
Asia/Pac assets may bring in decent price as Chinese miners are very interested in IO with 62% plus FE content. Sell Canadian mines at whatever the best price Cliffs can get to. Teck resources or any other Canadian miners or even BHP,RIO or Vale might be interested. Get whatever the best price Cliffs can get, pay down as much debt as possible and then concentrate on domestic IO business. This will will result in better earnings and as stock price rise ,shorts will begin to exit and CLF's MKT value will improve. This is the ONLY COURSE for CLF. or we are going to see huge drops like what happened today..down 6% like a rock while Dow was down only 40 points.
CLF ...a Dead stock until it gets out of INT IO markets ( Wabush,BL and Asia/Pac non-core assets)..as simple as that... we need to take our lumps and get whatever the best price we can get , cut down debt and Move on.
This stock never amounts to anything..Kirsch or CASA. It went down 20% or more from 8/9 to now in less than 3 weeks under CASA MNGT. Shorts really got Cliffs' number. And its all because of Seaborne IO price keep going down and BHP is determined to keep bringing out more IO and drive out of business high cost manufacturer.s CASA and Goncalves need to realize this that as long as this stock is affected by Seaborne pricing IO, the stock price and MKT val will keep going down as BHP is determined to produce more.and IO price may drop even below $85/tonne
Goncalves need to realize this and sell all INT assets including Wabush ,BL and Asia/Pac as soon as possible( even if it is NOT the price he wants) at a value even $500 mil less than the total debt of some
$3.5 B. Some Chinese miners even may go for paying higher amount af IO quality is 62% or better.CLIFF can handle this as Seaborne price will have no effect on domestic business. and as the stock rise, shorts will depart and we can handle some left over debt as MKT value will increase. This MUST be UNDERSTOOD
and MNGT act fast and get it done.
I am going to get myself cleaned up and get dressed. This stock better be at $15.50 at least by the time I come back...... lol
CLF must get smart and say good riddance to the Seaborne IO pricing. They can only do that by getting out of all INT Operations ASAP. Because, the Lower IO price goes it keeps killing CLF's stock price and Mkt value because of their much higher overhead cost than BHP and RIO does not allow them to compete with them.
Huge volume . probably will do 10mil shares double the normal daily volume. Time for Goncalves to make a statement to tell SH and WS whats going on here.
yea yea..yea.. same old story. MNGT better become more visible and try to sell all non-core assets and pay off debt as fast as they can. Its the best thing that can happen to CLF .If they can sell all of them just to pay off the debt, then they can make a FRESH START for enhancing US domestic operations which are already profitable and stable.
This is all a speculation on our part. Just when we thought the stock price was stabilizing.. boom...shorts moving in a full force and killing whatever the gain. Not a good thing for Cliffs. Goncalves will have to move FAST to counter balace the huge loss in the price
They MUST sell Wabush at any half way decent price . It is costing a lot to keep it closed and have money tied up. Stock down over 5% so far today and has to be the biggest shock to new MNGT and I hope Goncalves recognizes it fast . These bad asset MONKEYS are killing company's Mkt value.
Goncalves already said he is not going to spin off non-core assets in an IPO but sell them separately at reasonable prices. So I don't think IPO is going to happen.