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CLF

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smith&jones
0
CLF van plm 3.30 nu naar 10.58

We houden ze nog maar even vast op gem aankoop van plm $4,39

S&JJ
smith&jones
0
Iron ore prijzen blijven stijgen. Op het huidige niveau van een dollar of 80 per ton is CLF goed winstgevend, dus is er voortgang te verwachten mbt de verdere schuldreductie. Wellicht nogmaals emissie maar dat is aan deze koersen geen punt... Klassieke turnaround.
We wachten het af...
S&J.
smith&jones
0
seekingalpha.com/filing/3393547?app=1...

als verwacht, een heel mooi kwartaal/jaarresultaat. Houdt de iron ore prijs het een beetje dan wordt ijzer in goud veranderd.

S&J.
smith&jones
0
Aankondiging emissie 50m stuks plus 7,5. Na stijging gisteren op de uitstekende cijfers tot $11.37 zou dat minstens $500m op kunnen leveren. Balans verder versterkt, schuldenberg lijkt steeds beter te managen, iron ore doet het voorlopig goed. What's not to like.

seekingalpha.com/news/3242294-cliffs-...

S&J.
smith&jones
0
Het worden 55m stuks @ $10,75, geeft een kleine $600m wat inderdaad de schuld in manageable regionen zou moeten krijgen. Macquarie ziet de $20 al lonken. Doet u maar...

seekingalpha.com/news/3242529-cliffs-...
smith&jones
0
CLF koers blijft en beetje zijwaarts doorzeuren onder de $10 terwijl nu toch wel duidelijk is, los van de geslaagde emissie tegen zeer goede koers, dat ook diverse bonds tegen veel gunstiger voorwaarden gaan worden omgezet met een veel langere tijdhorizon.

Kortom, CLF is er helemaal bovenop.
Wel grappig dat zelfs coking coal omhoog schiet momenteel, en dat is juist afgestoten als het meest problematische deel van de CLF boedel...

Iron ore blijft erg goed liggen. Het wachten is kennelijk op de nieuwe kwartaalcijfers, die zoals het er nu uitziet niet anders dan uitstekend zullen zijn.

S&J.
smith&jones
0
CLF: Spannende week: SP afgestraft door daling Iron Ore, maar deze daling is van zeer hoog naar historisch gezien heel prima ($90 naar $70). Een buitenkans imo: deze week Q1 cijfers en hoogstwaarschijnlijk nieuws mbt Essar overname.
Als die laatste stunt zou lukken is CLF klaar om de dominante US speler te worden in taconite pellets (electric arc processing ipv het 'ouderwetse' coking coal process) de komende decennia.

S&J.

CLIFFS CEO ADDRESSES DULUTH MINING CONFERENCE
By John Myers Forum News Service 1 hr ago
DULUTH — Lourenco Goncalves had engineers and company executives laughing in their chairs at a mining conference Wednesday with his one-liners and brutally honest opinions of his competitors, but he said he’s deadly serious about trying to gain control of the former Essar Steel project in Nashwauk.
Goncalves, CEO of Cleveland-based Cliffs Natural Resources, says his company’s is the only serious offer for the former Essar Steel Minnesota project that may go up for auction in a Delaware bankruptcy court next week.
Goncalves was speaking to the annual conference of the Minnesota chapter of the Society for Mining, Metallurgy & Exploration Inc. at the Duluth Entertainment Convention Center.
He spent much of his speech outlining why his company has thrived over 170 years in business while also landing jabs at his global iron ore competitors, referring to the CEOs of iron ore giants BHP Billiton, Rio Tinto and Vale as “Larry, Moe and Curly.”
But Goncalves moved into his latest crusade — his effort to acquire the Essar site — and how he’s rallying support in Minnesota for his expansion effort. He said Cliffs offers the best hope to see the Nashwauk site reach its full potential as a producer of direct-reduced iron that can be used in electric arc steel mills that currently produce two-thirds of the steel made in the U.S.
Currently, Minnesota taconite iron ore plants can supply only blast furnaces which produce the other third of domestic steel.
While for all of its 170 years Cliffs has sold its iron ore to blast furnaces, Goncalves said the next 100 years will depend on supplying electric arc steel mills as well.
Goncalves said the bankruptcy judge in Delaware will heed what more parties say is the best option for the people of the Iron Range, creditors and potential employees, adding that he has the support of Minnesota Gov. Mark Dayton. He said his company has feasible plans to open the mine at Nashwauk, process the taconite ore at one of Cliffs’ three existing operations and then ship those pellets back to Nashwauk, where he wants to build a $700 million direct-reduced iron plant.
That new plant and new mine would employ 300 or more people making iron briquettes that would be used to bolster the iron content of electric arc furnace steel made mostly from scrap.
“I see Cliffs owning several DRI facilities. But I need that (Essar) site” in Nashwauk, Goncalves told the convention. “That site is perfect for that.”
Goncalves first needs to win the bankruptcy battle that could be decided as early as next Wednesday. His company has made a $75 million “liquidation” bid to the court to partially pay off creditors for the more than $1 billion owed by Essar.
Cliffs faces competition from Mesabi Metallics, the California-based company that has acquired the bankrupt assets during the court proceedings, and from Tom Clarke, owner of ERP Iron Ore that recently purchased the assets of bankrupt Magnetation. Clarke’s bid, under the name Chippewa LLC, is $250 milion. But Goncalves told reporters after the conference that the other offers don’t really exist, that the money is “not real. Mine is a cash offer.”
He warned Minnesotans, especially Iron Rangers, to stick with the name they know in Cliffs and not fall for “false promises” of “fly by night” companies such as Mesabi Metallics and Chippewa.
“Fool me once, OK,” he said, referring to millions of dollars Essar owes the state and to contractors for the failed project. “But fool me twice? Come on, Minnesota and Iron Range, wake up.”
Essar borrowed and spent some $1.8 billion on the Nashwauk project, only to walk away in late 2015, out of cash and with the plant only half completed. Mesabi Metallics has estimated it would cost another $800 million to finish the mine and taconite processing facility.
Goncalves says there’s no need for the taconite plant at this time, saying he would first use his existing pellet-making capacity — Cliffs owns and operates United Taconite in Eveleth and Northshore Mining in Silver Bay, and is manager/co-owner of Hibbing Taconite. But he would build the DRI iron plant on-site near the Nashwauk mine. Eventually, Goncalves said, as he sold more direct-reduced iron, Cliffs would build a taconite pellet plant in Nashwauk.
“But we would have to grow into it,” he said. “There’s no need for it now. We already have the capacity.”
Goncalves, who became CEO in a hostile takeover in 2014, has steered Cliffs as the company nearly shut down and went bankrupt in 2015 only to recover in 2016 to nearly full U.S. production and become one of the fastest-rising stocks last year. Cliffs’ stock has cooled off since as global iron ore prices have plummeted from about $90 per ton in March to about $65 now, but analysts say the company appears to be on solid footing if the domestic U.S. steel industry continues to increase production.
The American Iron and Steel Institute trade group reported this week that U.S. steel production was up 2.5 percent from the same week in 2016 and up 2.2 percent from the week before. Year-to-date production through April 15 was 25,994,000 tons, with a capability utilization rate of 74.3 percent. That’s up 3.8 percent over last year at this time.
More than 800 people were expected to attend this week’s 90th annual meeting of the Minnesota Section of SME. The Duluth event is the largest regional minerals conference in the Midwest, featuring a wide range of session topics addressing pressing industry issues, emerging trends and the latest technology developments.
smith&jones
0
Slechte cijfers US steel zullen wel een douw geven in de CLF koers.
Typisch geval van verkeerde prikkels in de koers: winstval bij US Steel komt met name door hogere kosten inkoop (iron ore dus) en opstartkosten van hun eigen op non actief gestelde mijnen.

Feit is dat CLF mooi op koers ligt nu om mogelijk de assets van Essar, hun grootste concurrent, die in nog grotere problemen is gekomen dan CLF zelf enige tijd geleden, over te nemen voor heel weinig, en zo de facto de absoluut dominante speler te worden in de US.
De zee is ruw maar de vangst zal mooi zijn...

S&J.
smith&jones
0
Vale, Rio Tinto en BHP productiecijfers lijken te wijzen op beperkte productiestijging. IO goed boven de $60 en de 27e Q2 CLF cijfers met volgens de conference call ebitda boven de $ 200m.
Aftermarket alvast naar de $7,86... handel morgen wordt wel geinig vermoed ik...

S&J.

smith&jones
0
quote:

smith&jones schreef op 26 juli 2017 02:26:

Vale, Rio Tinto en BHP productiecijfers lijken te wijzen op beperkte productiestijging. IO goed boven de $60 en de 27e Q2 CLF cijfers met volgens de conference call ebitda boven de $ 200m.
Aftermarket alvast naar de $7,86... handel morgen wordt wel geinig vermoed ik...

S&J.

herstel: post-market $8.09
seadoc
0
Je bent niet bezorgd over de schuldpositie? Die daalt wel, maar gaat die daling hard genoeg??
smith&jones
0
quote:

seadoc schreef op 26 juli 2017 20:41:

Je bent niet bezorgd over de schuldpositie? Die daalt wel, maar gaat die daling hard genoeg??
Nee niet zo bezorgd. Short term is onder controle dankzij zeer geslaagde emissie. Long term is goed uitonderhandeld.
Goede Q2 cijfers (zowel revenue als winst stuk hoger dan prognose), toch is het aandeel vandaag 10% onderuit gegaan.
Er wordt nu druk gekibbeld over het waarom op SeekingAlpha.
Ik kan geen steekhoudende reden ontdekken, anders dan dat die 200 mio ebitda kennelijk over H1 geinterpreteerd had moeten worden, en niet Q2.

Vraag is: hoe lang duurt het voor 'de markt' de verwarrende en tegengestelde drivers balanceert. Onzekerheid wordt afgestraft...

S&J.
seadoc
0
seadoc
0
Debt and Cash Flow

Total debt at the end of the second quarter of 2017 was $1.6 billion, approximately $900 million lower than the $2.5 billion total debt at the end of the prior-year quarter. Cliffs had net debt3 of $1.3 billion at the end of the second quarter of 2017, compared to $2.3 billion of net debt3 at the end of the second quarter of 2016. The Company had no borrowings under its asset-based lending facility at the end of the second quarter of 2017 or 2016.

Capital expenditures during the quarter were $22 million, compared to $10 million in the prior-year quarter. The increase was driven primarily by spending related to the Mustang Project at the United Taconite mine.

Read more at www.stockhouse.com/news/press-release...
smith&jones
0
Je ziet hoe snel de schulden gereduceerd worden. CLF heeft alle pijn van overstretched investeren in één keer genomen en alle onrendabele acquisities van de hand gedaan.
Dit legde bovendien een aardige bodem in 2016:
www.streetinsider.com/dr/news.php?id=...

Hangt van IO af en domestic steel price. Het besef is deze week in USA doorgedrongen dat Trump helemaal niets klaar maakt, dus ook niet qua infrastructure plannen. Alle valse lucht is uit de staalindustrie-aandelen aan het lopen, resultaten zijn vooralsnog echter niet onaardig...

S&J.
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