surf.. what number you arrive at? If CLF reports Q-2 earnings of $0.25 or above vs. a loss of $0.11 per Analysts, it will be a big thing for CLF and LG; and based on what LG says in the CC about Met Coal mines sale and BL outcome (if any), this stock and company will turn around and head up.
5.7mil US IO x$30 =$171 mil plus 2 mil APIO x $10 = $20mil = $191 mil total Gross Margins.
CapEx $25 mil ; and SG&A $30 mil = Total $55 mil
Q-2 EBITDA = $191 mil minus $55 mil = $136 mil
$136 mil EBITDA minus $45 mil Interest, $35 mil Dep/Am ; minus $13 mil Pref.Divy = $43 net profit B4 taxes
$43 mil minus $3 mil Fed taxes @ 10% = $40 mil Net Profit or $0.26/sh
Coal Operations are discontinued or Breakeven ...
I rest my case.
who is this sharky fellow with a crude tongue... solarmike or oht under another alias?
I dont think SH will let that happen. This is the only PURE IO company in US and Gov. won't let it go BK. I have seen in the past many companies come back from $2 once the things are corrected.. GoodYear, Libbey Glass, Ferro (after Kirsch left) were all round $2 three yrs ago Ferro is around $15 now, Libbey is over $40 and Goodyear is in its $20's.
I think CLF's CFO is a smart guy. Its NOT his Fault. CLF will and should come back after Q-2 earnings are out. I am at a loss to explain why this stock is tanking under $3 and MNGT is keeping Mum.
surf...Any insight on Phase 2 Bid Deadline for Phase 1 bidders? or tis can go on for another 3 or 4 months?Qualified bidders must come up with 5% cash of the amount they are bidding.??does that mean that there are actually Bidders for various BL properties? This can drag on for months if its in the hands of the Court to set the deadline .
So we are stuck with what Q-2 Earnings will be for this stock to make any upward move...damn!!
7 days too many.. I have lost all respect for CLF, LG and its MNGT Team. This is ridiculous !! Time after time Shorts are proven right. That's the FACT.
Q-2 Earnings out on 7/29: CC on 7/30 and then another silence for 3 months by MNGT and Longs in a Limbo for another 3 months.. and we can keep then guessing for Q-3 numbers .. Long another 90 Days!!
shark...I think LG would sell those assets but commodities are very depressed now and he may have a change of heart. About BL mines, no one yet knows how it will be resolved but today is the deadline for sealed Bids on BL sale and not sure when they will be unsealed . Hope , may be tomorrow.
Having said it all.. I stand by my number of about $0.25 E. for Q-2 vs. est. of $0.11 loss by Analysts .LG will again prove them wrong for sure.
haha.. sarcasm wont get you any where. .I asked you nicely and this is what we get.. moron??
surf.. we should know the actual Cash on hand when they report Q-2 earnings. LG's CC should speak a volume and know the direction he is taking for this company, and the status of BL Mines bids and Sale of remaining Met coal mines.
surf.. You keep saying that and stock keeps tanking. Do you know something that Shorts don't know? Its HIGH time that MNGT instead sitting in their offices come out and make some statements as to their going forward and turnaround strategy f.or CLF. We the SH have suffered immensely for years now.
They are all crooks and for themselves.. or how this the only pure IO commodity company in USA can do so poorly and being kicked around by Shorts left and right.They should go out and find more contracts with big and small American Steel companies and offer them incentives to use IO pellets if they are using expensive scrap metals as ingredients .
Its a lot of work , but it wont be accomplished by sitting in offices.