There goes the last of CLF's cash

Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

Reply New Message

Prev Message Back To Forum Threaded View Next Message

AafabVentures

Rank: Vice President [?]

Points: 3788 [?]

Votes: 201 Score: 3.2 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

There goes the last of CLF's cash

posted on Jul 06, 2010 05:51PM

Cliffs Natural Resources Inc. Announces Acquisition of INR Energy, LLC�s West Virginia Coal Operations
Ticker Symbol: U:CLF X:BOURSE:CLF

CLEVELAND -- (Business Wire) --

Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that it has entered into a definitive agreement to acquire all of the coal operations of privately owned INR Energy, LLC, a producer and exporter of high-volatile metallurgical and thermal coal. Cliffs said it plans to finance the $757 million acquisition through available liquidity, including cash on hand and the Company�s $600 million credit facility. The transaction is expected to close within 60 days and is subject to customary closing conditions, including Hart-Scott-Rodino review.

Nothing left for us or any of the other RoF spec choices FNC, PRB, NOT etc. No doubt that we have not seen the last of them, but this depletes the current war chest.

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Please to post a reply