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.
Instead of the Ohio State Buckeyes, they could be the Ohio State Iron Ore Pellets. They both look the same.
According to Lake Carrier's Association:
5,425,061 tons were shipped on the Great Lakes, the 5 year average is 4,649,800 tons. Dec 2014 beat last year's 3,998,800 tons.
For the year there was 45,624,207 tons shipped which beats the 5 year average of 44,673,557 tons.
CLF's 2014 ore shipments in the US should be well above last year's numbers and meet the numbers shipped in 2011.
It has to be a good offer, between bankrupting BL and selling BL Railway, CLF could easily net out $700 million with no future liabilities. But I am with you, selling it would be better for everyone, including the buyers.
As of Sept, Blackrock had around 7 million shares under several accounts. There current filings, which consolidates all of their holdings, has over 14 million shares, so from what information I put together looks like they have doubled their position.
That was my guess too which is not too reliable. Maybe it is the news that Target is leaving Canada and the market is saying, "what is good for Target is good for Cliffs". All I know is that it has been a long time since we have seen a string of 100K plus shares traded per minute.
Yeah, I didn't see this one coming. Going to try $18.47 to see if I can get out of this trade without a loss today.
from Canada, Australia and even the Bluefield Telegraph… nothing new. Now I will take a guess that some deal or resolution to BL is in its final stage so that it can be announced at earnings.