Cleveland Cliffs Inc (CLF)

[Saving Grace]

Essar is shit out of luck. Cliffs has the leases to the most concentrated ore bodies and so ordered.Yet they continue to lie as they always have. They even stated that they had a joint venture with Cliffs when Cliffs began mining the leases to make it look like they were involved to their shareholders. Essar is a proven liar.

Judge awards Cleveland-Cliffs mineral lease rights in Nashwauk

Cliffs, which countersued Mesabi, contended it had every right to the land, since it bought and leased the acres in December - after Mesabi's leases had expired in Oct. 31 2017. Cliffs officials maintained that Mesabi's lease agreement expired after it failed to meet certain financing provisions and other deadlines established in bankruptcy court.

Monday, a judge agreed.

U.S. Bankruptcy Judge Brendan Shannon in Wilmington, Delaware wrote Monday that "When Nov. 1 arrived without Mesabi going effective, the leases were rejected, reverted to Glacier Park Iron Ore and GPIO could take any action thereafter as provided in the settlement agreement."