I'm just keeping it real Neb, If I had any shares I would sell them to you but mine were sold a while back when Casablanca started sending proxy's after buying a 5% position to make it legal.
The ONLY way I have ever beat the shorts is selling with them not throwing good money after bad like you suggested. There is still time to double your shares but the chance has passed for a 10 timer.
Think about it, if you would have sold at $20.00 when Concalves took control, you can nearly buy back 4 times your share amount as it is now, adding 300% more shares than you originally had without going out of pocket.
With the new report valuing CLF at $2, there is still time to double up as when it goes to $3 you can buy twice as many shares as you had today.
To buy and hold at this point IMO won't see a return for some time. The market itself is a bust. VALE has been going the same direction as CLF for some time now and VALE isn't liquidating revenue generating assets. It's been a race to the bottom and isn't looking promising any time soon.
If I can hold out until $2 I will have increased my position 10 fold but probably won't get greedy and settle at $3 unless it really gets hammered. Who knows as I don't believe the liquidator is done yet.
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