The Rising Influence of Rising Affluence

[Democritus_of_Abdera]

Re: CLF Cowen Global Metals Presentation....

Usually I find company presentations at analyst conferences uninformative in the sense that nothing new is presented.

However, today's presentation by CLF's CEO at the Cowen conference might be interesting.... I'll be looking to see if there are any comments suggesting that CLF intends to seek bankruptcy for the Quebec Iron Ore Mining subsidiary (and, perhaps, neutralize the take-or-pay agreement they have with the railroad servicing Bloom Lake) ....

I'm also of the impression that events are still fluid.

Today's PR release clearly states that there will not be an equity partnership to develop Phase II of Bloom Lake.

But, the slide set for today's talk implies that the discussion was intended to center around a partnership for Bloom Lake.

From today's PR (http://ir.cliffsnaturalresources.com/English/investors/news-releases/news-releases-details/2014/Cliffs-Natural-Resources-Inc-to-Pursue-Exit-Options-for-its-Eastern-Canadian-Operations/default.aspx )

Lourenco Goncalves , Cliffs' Chairman, President and Chief Executive Officer said, "Despite the continued interest of the prospective equity partners in Bloom Lake and in its high quality ore, the potential investment is not achievable within a time frame acceptable to Cliffs. With expansion no longer viable, we have shifted our focus to executing an exit option for Eastern Canadian operations that minimizes the cash outflows and associated liabilities."

The slide of interest in today's 8K filing is: http://www.sec.gov/Archives/edgar/data/764065/000076406514000206/a201411198kex991017.jpg

where the entire slide set can be found at: http://www.sec.gov/Archives/edgar/data/764065/000076406514000206/a20141119-8xkxex991.htm