Tuesday, April 18, 2017 6:40:18 PM
Rather than doing the Nashwauk site on its own CLF should consider partnering with a steel major with the option of buying them out in the future. Yes, this might irritate some of the other majors but could work very well in CLF's favour in light of its depressed share price and the tough IO pricing right now.
Taking the threat of a 200 million share dilution away will help to stabilize the price. In addition I would add that 2% dividend to further bolster the SP. Obviously make it conditional on certain quarterly EBIDTA goals being met.
He is smart to offer only 75 million for Nashwauk. Anyone thinking they are going to just jump into the IO market now is crazy. Investing a billion dollars at this point in time is suicidal unless you are CLF with a steel partner that will buy that product from you.
Feedback welcome
Paul
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