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Starbucks Corporation Message Board

w999surf 364 posts  |  Last Activity: Feb 4, 2016 6:43 PM Member since: Jun 25, 2012
  • Reply to

    Vale CFO says can break even with $40 ton

    by sebring_09 Dec 1, 2015 4:33 PM
    w999surf w999surf Dec 1, 2015 5:30 PM Flag

    $40 a ton is China Seaborne Spot delivered to the port in China. Their cost to transport that ore from Brazil ranges between $20 to $30 a ton. That really shows the value of being a local domestic supplier. Margins are really tight and now throw in a multi-billion dollar lawsuit with the dam failure and Vale is in real trouble. Vale would be smart to downsize their operation, sell off assets, reduce debt and give up on the Chinese market. Wait, that is what CLF is doing without the cost of a dam failure.

  • Reply to

    Governor Dayton Turning Up The Wick on Essar

    by airlinegy Nov 30, 2015 2:43 PM
    w999surf w999surf Dec 1, 2015 1:47 PM Flag

    Construction cost is extremely high. In the 1980's when I first got into the business, I paid $5 an hour per employee for insurances and employer taxes. Now that number is closer to $25 an hour. I need to buy some steel for a project and my cost on the stock is running me close to $3,000 a ton. These managers just don't have a clue what construction cost are and are dreaming if they think they can compete with CLF's established mining operations.

  • Reply to

    Large trades in CLF2018 bonds

    by smallercap Dec 1, 2015 12:35 PM
    w999surf w999surf Dec 1, 2015 12:48 PM Flag

    If CLF has a firm deal on their coal mines, they could be in buying these bonds ahead of announcing a deal.

  • Reply to

    Off the wall question ?

    by buckshorn53 Dec 1, 2015 11:40 AM
    w999surf w999surf Dec 1, 2015 12:44 PM Flag

    I know Jim Justice bought back two Bluestone mines from the Russians in the Pinnacle Creek area of WV, have not heard of a purchase of CLF's mine which does not mean it is not in the works. You have local connections and would know better than anyone else. Watching for announcements in January.

  • is scheduled for 12/2 at noon. I will be on the road tomorrow and not be able to track the progress.

  • Reply to

    I guess my hope for a share

    by lucetteo1 Nov 30, 2015 12:25 PM
    w999surf w999surf Nov 30, 2015 9:33 PM Flag

    I gave you the report from a French Canadian publication that revealed Quebec's bid for the rail and port facilities. It was this report that threw out the $200 million number. Now I have not been to uncover the bidders for BL, but LG stated there were several, just don't know who. Private companies tend to hold to their confidentially more than politicians do. But what I have found out is the rails and port facilities is key to Quebec's plan. Also, an operating BL is also important to Quebec and I believe their participation is going to be key to a deal (now this last part is purely speculation on my part).

  • Reply to


    by btuoptions Nov 30, 2015 6:25 PM
    w999surf w999surf Nov 30, 2015 7:12 PM Flag

    So the float will go from 153 million shares to 10.2 million… I don't think so.

  • Reply to

    I guess my hope for a share

    by lucetteo1 Nov 30, 2015 12:25 PM
    w999surf w999surf Nov 30, 2015 12:50 PM Flag

    I was thinking the same thing as CLF looks to maintaining close to $300 million in cash. Year end numbers will tell if CLF will get another tax refund. And of course there will be some asset sales. But cash from continuing operations won't be enough to pay the $50 million needed to retire $100 million in debt per quarter. With the conversion of the CLV shares and cost cuts, they could retire $50 million per quarter which will be enough to pay off those 2018 bonds ahead of maturity without asset sales.

  • Reply to

    Mayor of Wabush Holds Rally

    by w999surf Nov 30, 2015 10:32 AM
    w999surf w999surf Nov 30, 2015 11:34 AM Flag

    That is a good question. Based on CLF's actions to keep the lease current, they have made it possible for CLF to sell off the movable assets which supports the idea that there are bidders on this infrastructure. Otherwise, I just don't see any other reason for CLF to pay up the $800,000 lease payment. Except that it might just be a power play to get MFC to step up to the plate.

    Halverson had a deal with MFC to buy the mine, but LG did not follow through. Could be that MFC's offer did not cover CLF's liabilities and it would have cost CLF more money to sell it. By going through the CCAA, most of these liabilities are eliminated and CLF could make a deal with MFC.

    Just too bad we have to wait until the CCAA process is complete to know what is happening!

  • Reply to

    Mayor of Wabush Holds Rally

    by w999surf Nov 30, 2015 10:32 AM
    w999surf w999surf Nov 30, 2015 10:49 AM Flag

    CLF stated that it will take 5 years and 131 employees to dismantle the mine. Seems to me if MFC came up with the money that CLF is getting for selling off the pieces, they could have the whole thing now and could find a miner to operate the mine with a slight recovery in iron ore. Otherwise they would have to see a huge recovery in iron ore to make it worth the investment in new infrastructure.

  • From CBC:

    "Cliffs environmental assessment states the company had tried to sell the site, but when it found no buyer, it turned towards demolishing the mine.

    Colin Vardy on keeping Labrador seats in House of Assembly cuts
    Colin Vardy wants people to rally on Saturday at the field across from the Wabush Hotel. (CBC)

    Vardy disputed that, saying he knows of an interested party.

    "They have a long term goal. They say the ups and downs are fine, as long as you have more ups than downs, and that makes long term business sense," said Vardy.

    He declined to name the company."

    What we know from the CCAA is that there are no bids for Wabush, so this other "buyer" must want the mine and infrastructure for nothing.

  • Reply to

    Samarco liability

    by powerofsiberia Nov 29, 2015 9:27 PM
    w999surf w999surf Nov 30, 2015 9:09 AM Flag

    Insurance coverage is $1 billion. However, the insurance company might be able to walk away if negligence is proven, just don't know the details and will be more than likely settled in court.

  • Reply to

    CLF's Objection to Essar's CCAA fiiing

    by w999surf Nov 27, 2015 8:31 PM
    w999surf w999surf Nov 28, 2015 4:47 PM Flag

    Thanks for your thorough analysis of the documents. I just don't see how the US Chapter 15 bankruptcy court could side with Essar on this one and could bite Essar if the bankruptcy court rules that any judgement granted to CLF must be paid. Still think the end game here is to put Essar Algoma out of business and take away Essar Minnesota's main client out of the picture and drive it into liquidation.

  • On Ernst and Young CCAA Restructuring Information Chapter 15 Motion Materials dated Nov 25.

    To much to post, interesting read as CLF is stating due to the results of the contract lawsuits, the CCAA Chapter 15 does not have the right to overturn court rulings. It is an interesting read...

  • Reply to

    Near Term Catalyst for CLF

    by clfcomeback Nov 27, 2015 10:55 AM
    w999surf w999surf Nov 27, 2015 12:40 PM Flag

    Based on all the current Canadian assets and the DIP loan CLF has given the CCAA, I see where they need to reach sales of $350 million for the Canadian assets to reach a break even if their estimates of liabilities is accurate.

  • Reply to

    Cliffs putts ng more pressure on MFC

    by ironorestrong Nov 27, 2015 11:31 AM
    w999surf w999surf Nov 27, 2015 11:51 AM Flag

    IOC could be bidding on some of the equipment for their Wabush 3 mine and CLF could be making all of it ready for the sale. MFC's Wabush mine is just dead.

  • Reply to

    Near Term Catalyst for CLF

    by clfcomeback Nov 27, 2015 10:55 AM
    w999surf w999surf Nov 27, 2015 11:35 AM Flag

    6) Brazilian mine disaster, lawsuits and fines will now start to mount and will go on for years along with massive legal fees. Public officials will re-examine mining across S. America and companies will have to upgrade facilities. LG needs to use his Brazilian contacts to keep the pressure on.

  • w999surf w999surf Nov 25, 2015 3:59 PM Flag

    Since I have to leave, I will help you out here.

    On page 71 of the 10Q is a table. If seaborne china iron ore goes to $30, CLF will get $35 to $40 for the Asia Pacific ore and will get $75 to $80 for their US iron ore pellets. Now APIO cost excluding DD and A is $34.72 a ton, so they will be cash positive on that one. And USIO pellet cost excluding DD and A is $62.84, so they will be cash positive on that one too. All of this does not take in consideration of production and cap-ex cost cuts. Not to mention the tax gains computed at year end.

  • w999surf w999surf Nov 25, 2015 3:34 PM Flag

    Since CLF sells iron ore pellets in their main market, what will be the price for those?

  • Reply to

    Happy thanksgiving

    by mlefkowitz Nov 25, 2015 10:04 AM
    w999surf w999surf Nov 25, 2015 1:27 PM Flag

    Thanks, if LG is reading this, he will get it. Happy Holidays to all, shorts, longs, bashers, pumpers, traders and even all of us that are just plain warped.

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