Up 4% @ !5.62. The Street anticipates CASA victory and Restructuring of the Company.. sell assets, lower debt and emphasize more domestic business
Those are your buddies Kirsch and his gang on the Board who destroyed 86% value of the company, took on $400 mil more in debt and now the dividend will be gone. Yet Halverson got $60k every day for doing NOTHING. solar.. change your mind and vote for CASA. We need to change people who sit on the Board.
surf thinks .. buy high and sell low.. That's how most investors lose money. Think CASA will do the same? lol
roy saw the light finally and voting for CASA. You please do the same. .surf!!. you can still change
your vote. Normally I am NOT the advocate of the HF taking over the company but in this case an EXCEPTION is needed.
SURF..Are you nuts? why would someone buy 7.9 Mil shares at $25-$26 and then SHORT it? Answer me that. The idea is ridiculous and repulsive. If CASA wanted to short they shares, they would had made TONS and TONS of money by JUST shorting naked(knowing how bad the MNGT is) w/o. buying and then would had covered at $14 or $15.g That's how many big shorts do. They are NOT that dumb. Its possible they may have bought LT Puts to protect their position. But I never saw that huge Put volume ..change your vote..man!!
wow.. CLF stock almost ready to go under $15...now @ $15.03.. thank you kirsch. so nice of you to be still at Cliffs. You enjoy your 3 more days and then we kick you out the door on 7/30..lmao
Better gets the chances of CASA taking over the Board . In the end it doesn't matter CASA gets 4 or 6 seats on the Board. They are assured of getting 4 seats at least. More the better but even f they get 4 seats they will be able to swing 2 Board members to their way and will be able to do what they like about RESTRUCTURING the company..
surf.. you can still change your vote ..I think? CASA is keeping US operations and CLF with make a lot of money with LT US contracts and lower debt and lower interest payments with no worry about Seaborne IO pricing..
.Atleast you are staying .here. roy is gone and solar is quiet.. the stock pumpers and CASA bashers.
A consultant friend tells me that CLF has NOT changed their ways of spending money. Talk is CHEAP.
No but I know the total cost of Wabush and BL mines including the improvements was $9B.. 4 times the current Mkt value of the whole company. I am sure you know that too. Its been repeated here over and over.
BTW, CLF stock right now is@ $15.07.. down 2.6%. so much for the earnings report. Now go and vote for your buddies Kirsch etc. etc. at CLF.
surf... you are entitled to your opinion but hate to say you been wrong every time and your credibility has LONG been gone. You sound more and more like solar and roy. now..can't take any criticism.
I will tell you what. I will bet you a LUNCH ($10 value) ..if the present MNGT stays in power they
report another LOSS for Q-3 ,you buy me a lunch or pay $10 and if they report profit , I will do it. Take a bet????????
He said... first , Cliffs is a very small potato on their agenda of business, and second, they estimated a loss of $0.34 for Q-2 based on the lower Tax Benefit....like $19mil-$20 mil. But it was $69 mil ( about $50 mil more) and hence the loss was $0.01 that they reported actually. That works out well for what they
NO they are NOT.. go read what they are saying. Its Kirsch and his cronies already destroyed CLF's value from $15 B to now around $2.2B with $3.3 B in also debt . CASA is ONLY going to sell non-core assets.
BTW are you roy?????????? I bet you are !!
Go read what BHP CEO has said . They don't care how low the IO price go. They can still make money at $50-$60/tonne. The CEO has said they going to keep digging out more and more IO to drive our smaller manufacturers..as simple as that. They didn't name CLF but you get the point. I don't see IO prices recovering to $110-$ 120 in next 3 years or so and CLF will become like WLT w/o restructuring and will keep reporting losses atleast thru the end of this year unless a major makeover. Just cutting back production or even closing mines cost a lot of money in maintenance etc. CASA is our best hope.
As I have said before I hate any Hedge Fund taking over the company but in this case this might be the best thing that happened to Cliffs. They paid over $25/sh and on the contarary to what others are saying, they are NOT SHORTING though others are based on CLF's lousy balance sheet and problems they visualize fort CLF. So it doesn't take a genius to realize this. So vote for CASA.
With quarterly 20%-30% sales decline and depressed IO price ?? keep dreaming? CLF needs to get rid off INT operations. .sell or spin off as IPO if hey are ever going to be profitable again. CASA has the BEST PLAN.