As they fear CAS make take the conrtrol of the Board and the MNGT.My feeling is that CAS has too much money tied up and losing big..like $75Mil. and will drive for taking the control and will not agree to take 2 or 3 Board seats . Stock moving up on a possible restructuring coming by CASABLANCA Capital.
Working on a potential partnership with both Barrick Gold Corp. and Newmont Mining. May be Cliff can form such alliances with Chinese IO companies. Just a thought .. don't get excited.
you complaining surf ?I look into their non verbal communication and trying to make a point here. They are under strict orders not to say any thing.
Some thing is finally happening. My friends there won't say a thing May be a compromise with CAS or perhaps an outright sell of CLF to a domestic US steel company
The sharp fall in Iron Ore price has reduced the supply from smaller exporters such as Peru, Mexico, Venezuela as well as Iran to China. Latin Am except Brazil has also gone out of the market. So don't see IO price going under $85 as supply will be tight.
So I think we are near the bottom of the IO price and good news for CLF.
I agree. bad time to short regardless. CLF stock finally stabilizing around $14 and should move up slowly. May be $15 by the end of the week..IMO
with a ton of frivolous messages. Best to ignore him.
CLF drifting lower now as usual. Shorts are taking it up and then wam bam ty and taking it down. Up just a little now. High was $14.57.
lol.. if solar was right this stock would had been flying all over just on the rumors.. .I have or anyone here has heard nothing.
Didn't hear any thing till 12:30 on CNBC. and you put this message before noon.. NOT TRUE. You are spreadfng JUST the rumour.. not good bud!! Noone will believe you anything you say next time.
I will never understand why CLF's management doesn't go to WS and tell them what is their strategy to revive this beaten down company. Its a mystery to me.
surf..you welcome!! I have said this all along that Cliffs is NOT going broke. Its just their stupid MNGT that is putting the company in ground. The steps of CAPEX and other cuts should had been taken a long time ago. and they should had atleast sold Wabush mine in Labrador , Can in January when CAS was pushing them to sell some stuff. Price of IO was around $110 at that time. It has been causing Losses for Cliffs and at that time it would had brought in some $800 mil to $1B.
CLF's balance sheet is not as bad as some wall streeters say. Look at the VL profile I put here. I would think with CAPEX and other cuts of $ 650 mil, they should do well even with IO price around $90. But I still think CAS will do a better job of taking the stock price to $30.
Stock will be around $15 by Friday as many shorts will start to cover. Shorting overdone.