You are right. LG needs to use his gun( means buyback shares) but he can't do it at least 48 hrs after the Earnings are out. so it will be in Mon August 3 week if he wants to do a buyback and I think he should and MUST.
lishe...That can work too. So buy a combination of shares and options.. But my point is NOT to miss out this great opportunity of buying at this low level share price.
true.. LG wants to likely buy as many shares he can at the lowest possible price in the open market., But he should NOT be greedy. Within 48 hrs of earnings out , he should start buying CLF shares aggressively up to as much as $150 mil worth.
nick.. eventually earnings win over. In Q-4 , CLF reported 700% higher earnings than the estimates . If they report any positive numbers like $0.25 over the expected loss of $0.11, the stock will move up . Too bad LG didn't capitalize on great Q-4 and Q-1 earnings. Very poor MNGT!!
The write offs were necessary. W/O that this company would had gone bankrupt. These impairment Charges will bring in more Tax Refund From Gov. At some point 2 Met Coal mines will be sold as their Operations are discontinued and also BL will be resolved by the end of the year. Once that happens , they will have enough money to bring down debt to under $1.8 B and as APIO mines cease to operate in next 2 years , there will be No effect of SB IO price on CLF's business. Good earnings and the combination of these sales will raise the stock price but it may take another 18 months..
lishe..How low would you like to see this stock go down before you think LG should act decisively one way or another. I have heard nothing much from HQ except they have now one floor for their staff rather than 2 or 3 floors. They should also close their IR dept. They never respond.. so why keep them. let one secretary take the messages and someone respond if they want to.
surf.. email to LG and tell he buyback shares 2 days after E. are out on Monday August 3 and tell him to use CapEx only for US operations and shut down IR Dept. and fire more people and MNGT take 40 % hair cut.
surf.. why buyback later at much higher price. Now is a great time to buy some at least $100 mil worth shares if NOT $200 mil worth, at this very low price of $2.50 in the open market. He can buy RIGHT NOW close to 35-40mil shares and would decrease the Float for short selling and shot up the stock price. What is LG waiting for?
Shouldn't be but it gets killed every time bad news come out about SB IO price or Increased IO production by big 3 miners.
I have been wrong on this stock now so long ..but its too late now.. just have to wait and see what earnings numbers LG pulls out for Q-2.
you are full of BS. Why this stock just keeps going down. There should be some floor.This is a great
Landmark 160 yrs old ONLY PURE IO Company and is being destroyed by Shorts and MNGT is MUM.
yes... BHP said they will raise IO production to drive out smaller miners. CLF always gets HIT HARDER than other miners no matter how small they are in SB IO market. Shorts make that sure and LG is hopeless and won't do any thing. Our only hope is that the Q-2 earnings puts a positive spin on the stock price. 5 more days of whiplash and agony for CLF stock.
But SB IO price holding steady in low $50's. Biggest blunder of LG is NOT to get out of APIO and so CLF is always associated with SB IO though their major business is in USA.