Ok ..if you think that's a good way to go. But I doubt it. surf.. how could all these analysts be wrong?. If what you say comes true.. I wont believe them again.
The premium on July 25 weekly 16 Strike Calls is quite high @$0. 20- $0.22 indicating there might be a bump up in the stock price to $16 or a little above in next 4 days.
You know I have already made known on this board that I am NOT comfortable with any Hedge Fund taking over the company and dismantling it. But in this case, I Must make an EXCEPTION as CLF can not get any worse with CASA than what Kirsch and them did. CASA deserves a chance and lets see how they manage. They have already said they will only sell or spin off non-performing assets and pay more attn. to domestic operations.
Let me get this straight...
Q-2 E est 90 days ago.... 36 Cents
60 days ago....14 "
30 days ago....12 "
7 days ago......9 "
now JPM is reducing to minus 34 cents.. and CLF still wants us to vote for their white proxy? CASA please help as soon as you get control.
is the must and ONLY salvage for CLF in low IO and Met Coal pricing environment... as simple as that. Why Kirsch and Carraba didn't learn that during all these years? Now we need CASA more than Ever.
I agree.. GonClaves and CASA will rally this so called pig. We must endure Pain for about another week and till then the stock will trade between $14 and $16. All is Hopeless till then..This stock can't even get past $16 on the eve of Q-2 earnings. If CASA gets control, they will move very fast to rebuild this company.. sell assets fire useless people, cut cost , lower debt and more and I bet stock will move in $20's quickly. .
When the stock goes down by nearly 5% 2 days before the earnings date, it speaks a volume about how badly this company is being managed.. CASA can't do a THING until they win the Board and take the control of the company. But it looks like it will NOW HAPPEN. They are NOT shorting. They have a big stake in this company and its welfare as they own some 7.9 mil shares while MNGT owns barely 0.3% or 45,000 I don't like generally hedge funds taking over the company but in his case it is probably the best thing that can happen to Cliff. It NEEDS RESTRUCTURING SO BADDDDDDDDDDD.
I have NO words to describe how badly this MNGT has lost so much stock value and they have become the joke of WS and Analysts and investors have suffered so enormously. Kirsch delayed as long as her can but even now Kirsch keep sending out more and more White proxies till the last minute costing a ton of money . HE JUSTV CAN"T LET THIS THING GO. Hopefully, all out troubles will be somewhat over with CASA taking a control and we will see how they do it. but it can't be any worse than Kirsch and his jerks .
I and other Longs here have already been ripped off by Kirsch and his crooks over the last 18 months since I first acquired the CLF stock . Not much left to be ripped off. That's why the change is badly needed. And you just don't get it.
You have about a week left to keep blaming CASA for all the horrible doing by CLF over the last 3 years. You will be likely gone when CASA takes over the Board on 7/29.
As Cliffs' stock price goes lower and Q-2 E est. gets lower.. better becomes the chances of CASA to take over the Board. Don't you agree surf?
$97 IO price will not hold for long as BHP is ramping up more production. Asia/Pac is still the business for CLF to sell at a good price to lower the debt. Chinese manufacturers will be very interested in 62% purity IO mines if Cliffs decide to sell. CASA will just do that.
CLF down 4% @ $15.22 now on the eve of earnings date. +3 days for earnings date and +8 days for meeting date .
I know a lot about this company than people give me a credit. I read a lot and dig deep and get hints from a number of employees of CLF I know and have dealt with before posting here.
I really don't like any Hedge fund taking over the control of any company and rip it apart but in this case I MUST make an exception as this company's Board and MNGT is so bad ..if nothing changes they will put this company in ground or dismantle the whole company and sell assets at pittance price.
The word I hear is that CASA will get at least 4 to 5 seats on the Board and have even a chance of getting all 6 elected is good . But even if they get only 4 or 5 of their guys, they may find one or two more accommodative persons of CLF side on the Board to join them. If that happens, CASA will get the control of the company, and you will then see the stock price jump to $20 -$22. soon.
Put your money where your mouth is. We will see on 7/24 how wrong or right you guys and me are. Every one is invited to give his/ her best shot.