When a deal on BL is announced, there will not be enough shares to cover. Then when earnings come out with debt reduction results, the short squeeze will be on. This stock will be event driven, not like the rumors shorts built in the media in the past.
Looks like people want to be in position ahead of a three day holiday. The people in Canada will be working on Monday.
It has been tested in CA and OR, people in general don't like it as the government can track them. If I had teenage drivers again, I would be all for it.
Have you ever watched Mountain Men? There is one guy in NC that has converted his truck to run on wood chips.
Shorts are selling in the AM when the order book is narrow to get the biggest impact so that they can cover their positions in the afternoon.
Vip, I think all parties understand any purchase has to be better than what CLF can get out of bankruptcy. That is why a purchase would be a better deal.
At some point the gas tax will be gone and replaced by a GPS tracking system that makes you pay for where you drive. There is going to be a need to collect taxes on those that use alternative fuels like electric and nat gas. I know of people that use compressed nat gas out of their garage and pay no road tax on the fuel.
Exactly what I needed to buy more at these levels. With hedges in place it is easy to project record earnings in Q4. And yeah their debt level is high, but they generate more than half of their interest expense off their Guarantor Subsidiary.
This is part of LG's negotiation tools to bring the government and interested buyers to the table. He is doing the same thing with Wabush. It is in the best interest of the government to put together concessions to keep the mines in operation with new owners committed to process ore. Bankruptcy is going to cost the government and employees in lost wages, taxes and pensions.
Yeah, great thing about government agencies, they don't have to adhere to the quite period. They love to throw out that they are doing things to keep their voters employed.
They increased their holdings by about 7 million shares, that is a sizable number to take off the number of shares shorts can buy to cover.
in 2012 invested $1.2 billion into a fertilizer company that created 500 construction jobs and 200 permanent jobs when the company start operations. Bloom Lake has a larger impact with 3 times the permanent jobs so I would expect a larger investment. But $1.2 billion should be the lower number which could easily take CLF's debt below the $1.5 billion threshold. $1.5 billion in debt is key because it is the amount that can be paid off from the future tax benefits generated from the impairment charges.
Yeah, it will go up now, I just sold my positions from yesterday for a small gain. Moving back to CLF with news pending on their Bloom Lake holdings.
Good luck with FCX, it is a great company and I am sure it will head up nicely from here.
give to make sure CLF does not take BL into bankruptcy? I would say $500 million.
Then you should short the heck out of it. For me, the stock went up 11% on potential buyers, imagine what it going to do when the actual deal is announced. The Canadian government is going to make sure it happens and even the unions will jump in to help.
Speaking of criminals, plumbers have been raising their prices with copper going up. Now with copper down to 5 year lows, they are not dropping their prices.