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Thursday, 03/16/2017 10:28:47 PM

Thursday, March 16, 2017 10:28:47 PM

Post# of 27
Anybody else is watching closely here? I don't get why no one is talking about this company. Here's how I see it as of now.

In 2011, Cliffs Natural Resources (NYSE:CLF) bought the Bloom Lake Mine in Eastern Canada (Quebec) for some US$4.9 billion. Iron ore prices then dropped like never before (may not be a fact, but it still dropped like crazy) and Cliffs ended up closing it's ''troubled'' canadian operations. In 2015, Champion Iron bought the mine for pennies compared to what it once sold while iron ore prices were better.

In February of this year, they completed a feasability study and I can't really see anything negative about it.

On March 16th, 2017 they annonced the acquisition of 735 railcars, which to me sounds like they are getting only closer to restarting the mine, or else why buying those in the first place?

Considering it being a really big mine, having an expected life of more than 20 years. Having a cost of about 45$ a tonne with prices getting to better levels.

Anyone else following the stock? I feel like they will annonce anytime now the reopening of the mine...