Poor PR campaign and lack of visibility by MNGT or this stock should be @ $10 at least right now. LG didn,t capitalize on great Q-4 Operating Earnings, reduction of $400 mil in debt and Placing BL mine in BK and saving Shut down cost of $650mil-$700mi...poor Cliff!!
surf..What is the Extension date that Court has given?What makes you so sure that it will be sold to Can miner with the backing of Quebec Gov. I had thought the same before but not so sure now.
How did US Steel's BK of Can Subsidiary turn out?Were they able to sell and get some cash and how long it took to wrap it all up
I know the markets are tanking but if Exchange of Notes and possible sale of BL mine are good news, it would reduce debt and raise some more cash , why stock is down so much?
surf..what makes you think BL mine will be sold now after the Exchange of Notes.There were No buyers of BL for all this time.. BTW CLF is down almost 6% now.
blackout... Exactly my point. I was also wondering about any benefits of this Exchange?
sorry lishe.. I meant cut the debt by $300 mil and pay more interest overall?How will this play out?
surf.. cut the rates by $300 mil but interest rates be higher and pay more in interest?
What the effective interest rate will be? how high?lishe.. how will the higher interest rate on $2.35B compare to current interest on $2.6 B debt? Is there any net gain in interest payment(.meaning lower overall interest amount) or just pushes the Notes maturity date to 2040. I just don't get the premise of this. Anyone care to expand on this?
So if it not a miracle, then why are so many Shorts and Analysts are targeting CLF's price of around $7 only. Something they know that we don't? I am playing Devil's Advocate here for any reasonable answers.
Yes.. its a good laugh .but if CLF stock hits $20 and if you you come here, I will make an appointment with LG to see us and tell him we stayed with CLF thru thick and thin..
BTW, LG did buy 100K shares of CLF between $6.43 and $6.55 and so I don't expect the stock to go below $6.50..IMO
Mr. alg... Thank you for your comments..now go away before you get burned by LG
LG ..We are coming to your Clev. Public SQ HQ. Get the stock up to $20 sooner than later.
on what grounds?Did you see their Q-4 E. results and $400 mil lower debt and BL in BK.. all are good news. LG just needs to make a PR Campaign. New lows if any will be temparory.
Between $6.43and $6.55 Thru LG Revokable trust.. and filed Form 4 with SEC. Also Capital World Fund increased its stake in CLF by 21% to 14.4 mil shares and Hedge fund guy DE Shaw holds 4.056 mil CLF shares and says he is bullish on CLF... per Benzinga
Absolutely. LG put BL in BK so CLF doesn't have any obligations of paying for 3 yrs railroad
cotracts $450mil worth and other $250mil-$300mil expenses.. Thats the savings of $650mil-$700 mil that would have been incurred with a normal closing . Creditors will be paid out of whatever the Cash BL has on hand and the rest will be written off. When they sell BL complex to some Can miner with the backing of Quebec Gov., they will get some cash to reduce debt further... but that future is still uncertain. LG may say more about it in Q-1 CC.