CLF's new IR from NYC responded. ..saying it will take a little time but they are on track to follow on what they said before they got elected to the Board and took control. They are going to concentrate more on domestic business. Have patience!!
I think people here should call John Donovan, their Investor Relations Manager in NYC at 212-759-5626 and question the motives and next direction for CLF and how soon. I called and left a message to call back.
We JUST can't have the same thing that was under Kirsch and Halverson. They MUST become more visible and upfront and get on CNBC and Bloomberg and say what they are going to and how soon to improve the performance of CLIFFS.
They talked plenty before the meeting for voting the Yellow Proxy so they can control the Board and MNGT and restructure the company, and spin off or sell some non-core assets. Now Goncalves put your money where your mouth is and move fast and keep Share Holders and WS informed.
CLF is beginning to act like it was under Kirsch and now has lost almost all the gain since the election of CASA majority Board. I think Goncalves needs to move faster to sell NA Coal operations and do something about Eastern Canadian mines.. BL and especially Wabush
Its OK even if CASA spins off the INT assets especially the Eastern Canadian assets and NA Coal operations in a separate Corp. Then their domestic IO operations will look great and very profitable. They can use the proceeds from the spin off to pay down the debt and improve Cliffs Financial performance and the stock price will move up significantly.
Canadian Mine sales margins fell to a loss of $19.38 / tonne in Q-2 2014, and NA Coal sales margins fell to a whooping loss of $25.89/tonne in Q-2 2014 per TREFIS. Both these assets are on a sale block by CASA in their 90 day plan. Hope it happens shortly which will stop dragging down the profitable USA operations.
Looks like some bashers are returning and also the new ones are posting...lol . However, the LT trend is UP though we may see the stock moving sideways waiting for CASA's Announcement.
Directors and Executives really looted this this Company by including the Compensation Plan in their white Proxy booklet. Anyone read what departing Directors or Executives get if they are terminated? Its
With big Severance packages anywhere from $1 mil to $10 mil after the Compensation Plan was approved by barely 56 % vote( pure stupidity). This is after they destroyed 85% of SH value. This is too much for a small company that is trying to regroup and survive under the new Management.
MNGT can't do a thing to drive out Shorts. CASA has its own agenda and a 90 day plan, and Shorts know it. If they think CASA plan will move the stock higher ,they would be foolish NOT to cover. But CASA can't drive them out. They have to do their own dirty work and if they want to lose more money its up to them.
Shorts should cover before 8/13 or double whammy. CLF stock going up and then also they will be stuck paying dividend to LONGs. No easy way out.
CASA is the best thing that happened to Cliffs. If you read the CLF MNGT's Proxy report, the directors and executives were to loot the company if the Compensation Package on the ballet passed and they were terminated. CP passed by 56%,.So whoever gets terminated WILL GET any where from $1mil to $10 Mil in Severance package.
This is nothing but a loot from a small cash threatened company as these people really were not for company's welfare but just for their own. And therefore they didn't care if stock went down 85%. This makes me so freaking mad, and just wondered what might had happened to this once a fine old landmark Iron Ore company if CASA had not come to rescue it.
CLF going EX-dividend $0.15 on 8/13..so the stock price will climb as Longs try to get is and Shorts try to cover to avoid paying dividend. By tomorrow , CLF can hit $19 price.