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DewDiligence

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DewDiligence

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Re: birdguy post# 8051

Saturday, 07/23/2022 2:59:30 PM

Saturday, July 23, 2022 2:59:30 PM

Post# of 8628

…management’s great vision to spent $100 million to upgrade the taconite processing facility in Silver Bay when they could get the same product from Minorca all along…

Not quite. The $100M upgrade was in 2019, while the ArcelorMittal acquisition was in 2020. In 2019, CLF had no plan to bid for ArcelotMittal’s US assets, which became available at a firesale price in 2020 on account of the COVID pandemic.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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