Cleveland Cliffs Inc (CLF)

[Saving Grace]

They cut non production positions namely public relations and cleaned house across the board at all locations. I was at the estate auction for one of their top brass in public relations in which he and his position were simply eliminated including staff. The guy I heard was one week from full retirement and he was just cut. Said they were cleaning house and eliminating any positions that do not generate revenue in one way or another.

Heard they were doing runs with the new process and it looks like a go.

Plant is underway with several local skilled workers already called in for the infrastructure.

Vale backed off on production.

Timing is just right and quarterly is going to be better than expected.

I'm a little sketchy playing calls and rather buy more shares at this price knowing how bad this has been manipulated down.

This new process and high grade pellet is going to turn Cliffs around in a hurry as shipping cost will be more than cut in half and steel mills will create the demand for our high end product as simply the best choice.

The North American buyers will belong to Cliffs.

I got a modest position and will just set it and forget it rather than bet it. I'm going long now and can see this going back to at least $50 in a year or two.