Cleveland Cliffs Inc (CLF)

[greasemonkeyshoes]

What is your Q3 eps number........
My eps=24 cents
net income to clf=$55.7 million**
**non-controlling income of -$15.0 million is used for Empire mine(this is the biggest wild card)
based on:
USIO $78
sale margin $20.5(less non-production charge,lower than projected cash cost)
volume 6 million long tons(higher than 5.5 million guidance,company has a track record of being conservative)
plus
APIO sales margin $6.25(a bit lower than $6.39/Q2) per short tone
volume 2.8 million

On the revenue side:
Revenue=$78*6+$41.8*2.8=$585 million for 3Q 2016
Adjusted EBITA=$152 million for 3Q 2016

ps-It would be very interesting to see how LG fights back the short sellers on Oct 27 ER call.