1. Can CLF manage to show Earnings and Positive CF if they only operate profitable US mines and profitable AP mines(until sold) and shut down BL and wabush mines for good or atleast till IO price rebound.
2. Can they pay their bills , debt due,interest and other overhead expenses and Dividend and still have money left. and NOT have to worry about competing in IO markets
3..Wouldn't CASA and Connell had known about finances of CLF under depressed IO prices, and may have had some serious questions about the e viability of the company to survive before jumping in.....especially Connell .
Looking for some intelligent answers.here!!!!!!!!!!!!!!!
CLF held up well today in the early trading even when Dow was down 200 points. Tt .must be because Connell was buying? Then the stock tanked like there was No BOTTOM. Its atleast good to know that some one was interested in buying a large number of CLF shares.. Hope more can follow Connell
lishe.. you said other day.. US mines, AP mine and Pinnacle MET coal mine are all Cash Flow positive and have earnings, then only E CAN mines are in loss right ? Why dont they just shut them down if can't sell at a halfway decent price and take ONE TIME CHARGE and forget it until the IO price rebound to $125 or higher. Then they can just put all attention to US operations (IO and Coal). these all three operations should produce earnings and forget Seaborne Io even existed. and sell AP for good price
Why doesn't MNGT realize that all these THREE operations are making money and tell that to the Analysts OR IS THERE A MISS HERE? If all thats true then CLF stock price should at least be in high TEENs.
Next, it was in the news that someone bought 2 Coal mines in the remote area of CANADA for $1 each. The seller had paid some $900 Mil for them in 2011.So even if CLF sell BL and wabush mines ,they will not bring any significant amount of cash.. so I say write them off till sometimes in future. So what is your opinion on them?
I don't see why the stock is so down in a single digit now. What is your opinion? or every one is waiting for
Q-3 results like we waited during Q-2 results and the outcome of voting.Think Goncalves may have some thing surprising under his sleeves that he may disclose during the Q-3 earnings Call.?
surf... what do you think in actual reality CLF can get for their Aussie mines? I don't think any more than $500 mil at the most in this depressed times . In today's news, I saw someone bought 2 MET coal mines in the remote area of Canada for $1 each (not joking), The buyer had paid in 2011, $900 for those 2 mines. SO I don't think Cliffs can get much for their BL and Wabush Mines .. may be $200 mil tops. They should sell them at that price. If they can get it even that amount, or should SHUT THEM DOWN and take a one time CHARGE in Q-4. This will get rid of all Seaborne price and competing with BHP, RIO and Vale and just bite the bullet and concentrate on JUST US operations. Open again those Canadian mines when IO price rebound to $125 or higher. What do you think?
Cliffs is the only US IO company and supplies 60% of IO for our economy to US steel companies for meeting Auto,housing roads bridges and nameless other infrastructure needs.
It is NOT going away and US operations are very profitable. Past MNGT made some big mistakes in buying INT Mines at a very inflated prices and as a result we suffer. bu we are at a very low stock price and I do hope the new MNGT will fix it by cutting workforce, CAPEX, boosting efficiency and selling non-core unprofitable assets even in this low IO price environment and by concentrating on LT US steel contracts and new business here,and forgetting Seaborne IO price competition.
Q-3 earnings will tell us a lot as to the direction we are taking and I think company will beat analysts estimates of $0.05 handily. CASA is losing big and they are just as much under pressure to improve the stock performance. as their cost is $25.5/sh. Some one named Mr. Connell bought 5.22%stake in this company per today's news,.so they must have some confdence in this company too. It takes time and i do hope the stock will begin to move up and we may see $12-$13 by the earnings time of 10/27. So just RELAX and perhaps buy more under $10?
Down almost 6% now under $9.80.. Never been in a stock that has gone down from a high of $102 to under $10 in Three and Half years. This company is the only major IO company in this country.
Also will depend on how good or bad the markets and economy are doing around the world . My guess is CLF will be around $13
It will all depend on what Q-3 and Q-4( indication since will not be out till 1/21/15) earnings are and how good. Also by that time we should know the status of AP, BL, Wabush and MET coal mines and how much cash Cliffs generated from any or all of these sales , their buybacks of $200 mil worth shares, their CF, dividend status, their cost cutting and boosting efficiency, and finally the Iron Ore price in December.
All those above factors will come in a play for the stock price to go over $16.
Cutting cost, boosting efficiency and getting out of poor assets, will make eventually CASA realize the dream of CLF's stock price worth in $50's.
Very unusual.this stock went down when DOW went UP or DOWN. Now while DOW is down 150 points today, Its up a little. This means this stock has been taken to woodshed already and now just resting around $10 and will begin to creep up when we know more from the MNGT and earnings come out in 3 weeks.
Whoever is George Connell doesn't matter. He has faith in CLF if he bought a huge 5.2% stake in CLF. I think more funds should and will buy this stock. CASA has all under control .. I should think.
mikey... go eat your cerial...lol. Seriously CLF is stabilizing here and its NOT a some sort of a Ponzy scheme and will not go to $ 4 or $6 as some jerks here predict.It still has a great CF($3.70 in 2014) and MNGT planning to buy its own stock and planning to sell some non-core assets,... all look positive. Shorts begin to realize this and will move to somewhere else..or they gonna lose big. Now is the time to buy some more shares in this company's stock.
CLF will not go below 10 IMO as IO prices stabilizing in $78-$80 range and another MF buying some and CLF MNGT will also buy equal to $200 Mil. worth. At this point How Dow does will not affect this stock...regardless more upside potential for CLF from here. Shorts might begin to cover and move onto Short other stocks .
sugar..What makes you think there will be multiple bidders for CLF assets in this depressed IO markets? hope you are right.
What happened to Dow in last minute? went down 28 points. CLF closed @ $10.38 up a Nickel.