Cleveland Cliffs Inc (CLF)

[Saving Grace]

In an effort to drive the pps down to gather more shares. There is 2 that have a hold on it because volume is so low and Lorenco hasn't initiated any buy backs at all yet like he stated he would.

Axiom and Goldman Sachs admitted they were hedging against the convertibles created in the capital raise to get the HBI plant built that generated 700 million in funding. Some hedgefunds do not even consider that the Australian segment is no longer, which was holding us down with seaborne IO prices when we are now 100% domestic which value is much more stable and realized value per long term contracts.

Had the convertibles not been established, there would be nothing to hedge against. We need those convertibles gone and bought back or a significant bull move buy back to force a short squeeze.

18% of the float is currently short with 5.8 days to cover. Up from 14% a month ago.

Our CEO needs to put up or shut up and either clear the convertibles out with profit or buy shares back like he made public and did nothing.

Instead he ripped on Goldman Sachs with every name in the book on a conference call said when he's done painting there red wagon so-to-speak the only alternative to get out is suicide. What a mistake that was as shareholders are paying the price as he sits and does nothing.