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abracky

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abracky

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Monday, 05/11/2020 6:17:09 PM

Monday, May 11, 2020 6:17:09 PM

Post# of 8679
Cleveland-Cliffs has no plans to issue debt or equity, CEO says

May 11, 2020 12:58 PMCleveland-Cliffs Inc. (CLF)By: Carl Surran, SA News Editor

Cleveland-Cliffs (CLF -2%) has "way more" liquidity than needed to run the company through the coronavirus pandemic, CEO Lourenco Goncalves said on today's earnings conference call.
The company's best guess is a "neutral year" in working capital, the CEO said, noting the company is above minimum take-or-pay on supply.
Cliffs expects an average sell price for iron ore pellets in the low $90s and is looking for an expedited Section 232 case by the U.S. Commerce Department, Goncalves said.


https://seekingalpha.com/amp/news/3572804-cleveland-cliffs-no-plans-to-issue-debt-equity-ceo-says
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