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DewDiligence

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DewDiligence

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Re: DewDiligence post# 5364

Thursday, 01/03/2013 5:23:49 PM

Thursday, January 03, 2013 5:23:49 PM

Post# of 30493
CLF is taking a $380-420M non-cash charge for the sale of its stake in the Amapá JV for less than the carrying value of the asset on CLF’s balance sheet:

http://www.sec.gov/Archives/edgar/data/764065/000129993313000022/htm_46791.htm

Inasmuch as the Amapá JV has continually lost money, liquidation of CLF’s stake is a positive step and is consistent with CLF’s plan to divest non-core assets (#msg-77374355).

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

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