Makes sense, many shorts like the Sheep Dip are under water on their shorts. They are trying to double down on their shorts to raise their break even….. they are just going in the hole further.
When I move out to Nevada, got to help with lambing one weekend and then castration the next weekend. Trust me, the same can be applied to Sheep Protectors as well.
Oh, after the castration we had a great BBQ, you can guess what we cooked!
Do know what the difference between sheep and snow bunnies, nothing, they both look the same from the behind. Watch out snow bunnies, the Sheep Dude is close behind. Don't drop the soap!
Hey this is fun, posting like you, no facts and no substance… have a great vacation.
Over the last 6 months this stock has act horribly for shorts, not longs. This stock will move up fast when short finally realize they are on the short end of the stick. Once the figure out the stock is not going down, they will bail and move onto another target. And that time will come when the PE on the Yahoo page changes from N/A to 10. The huge loss they recorded after the non cash impairment charge is the last hook left for the shorts to hold their hat on.
What is not unchanged is our temperature, it is up to plus 7 degrees. The miners are bucking the market trend today, could be the start of a rotation as investors looking for value.
On that one, I am just repeating a technical trader that appeared on CNBC yesterday near closing. She said $36, I add the extra $1.
When most miners are trading at 1.5 to 3 times book, CLF should be over $40. What is dumbfounding is based on earnings, book value, cash flow, debt payments… that this stock is selling so low. And what is further dumbfounding is why short don't cover at $25 when it is going to cost the over $30 after CLF reports Q4. And lastly what is dumbfounding is why the Sheep Dude took a short position at $20.80 while I took a long position at $19.81 shortly after he announced his new position.
Basically, there is nothing dumbfounding about being on the right side of the trade.
Thanks, my research shows this is a very minor investment for CLF, a very major investment for Pacifico. Just saw the news link on Google Finance and at the time CLF had a major spike in volume and a move up in the price. Must be something else that caused the move.
As far as I can see, this market is headed higher with key economic numbers beating expectations. If you really think this board is a prime indicator, then by all means place your bets. See you when CLF hits $37 in the very near future.
With fair value, the dow is down 41 points. Some talk about a slight taper in Dec. but the majority of economist still target March. However gold and homebuilders are up and if taper is the fear, then they would be down. I think the reason we can't find anything is that the move down is not that much.
What I have found from the Pacifico site:
"Cliffs will fund a further $900,000 in project generation and exploration activities before July 2014
Cliffs has option to earn up to 80% interest by sole funding $4M in exploration & completing a detailed pre-feasibility study
Exploration will focus on Asia Pacific region and in particular, Central and South East Asia and Australia Targeting Tier-1 sized base metals and manganese projects
Focusing on porphyry, IOCG, and sedimentary hosted deposits Cu deposits and stratiform Mn deposits Alliance has been operating since July 2012 with one project already accepted as a joint venture by Cliffs
On 6 July 2012, West Rock entered into a Strategic Alliance Agreement (the “Alliance”) with a wholly owned subsidiary of Cliffs Natural Resources Inc. (“Cliffs”). Under the agreement, Cliffs will fund US$1.5 million in project generation and exploration activities over a two year initial term and the Alliance can be extended upon mutual agreement. Cliffs has an option to earn up to 80% interest in projects developed as Joint Ventures by the Alliance."
Pacifico shares have been halted in Australia until market opens on Thursday or until the announcement is made.
I have no other details, will continue to research it, if anyone has any insight, let us know.
With Ontario, Canada and First Nations working on forming a "corporation" to develop the transportation infrastructure, CLF will not have to spend a dime on the chromite mine for at least 3 years. They could hold off longer, their holdings will continue to gain value without developing the mines. The key here is they are not going to write off the asset.
So yes, I agree with you that the other operations should be developed first. But the Ring of Fire is far from dead, CLF is just slow playing it smarter.
"We continue to believe in the value of the mineral deposits and the potential of the Ring of Fire region for Northern Ontario, and will continue our work with the Government of Ontario, First Nation communities and other interested parties to explore potential solutions related to the critical issue of infrastructure for the Ring of Fire region"
This project is in the early stages and is moving forward, just need more cooperation from Ontario, Canada and First Nations.
Extremely low volume, but the price is holding up with volume spikes on the buy side unlike Friday's action where the spikes were on the sell side.
Now that it has warmed up to positive 3, time to grab the sun block and head out. I have been elk hunting in Oregon where the beer froze and I kept on eye on my Wild Turkey, if it froze I was out of there.
What most people are missing is that these companies have cut their CapEx to the bone and these companies realize the need to conserve their existing iron ore assets and maximize their profits. There is a sweet spot in iron ore prices that these companies are trying to maintain and that is in the $130 to $140 range. High enough to make good profits, low enough to keep demand growing.
Good to see it up, woke up this morning to minus 8 degrees, looks like another day on the computer and not at the job site. Spent the weekend clearing a 400 foot driveway of Friday's snow, I need to take it easy today.
Chinese are predicting higher iron ore prices in 2014 and their futures market is backing up this prediction. Who should we believe, Nathan from CS or the actual users from China?
It is in line with what I said iron ore prices will hold $130 and move higher. No forecasting skills needed, just look at Chinese iron ore futures. It is just that simple.