Comment from Cliffs analyst meeting yesterday

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

joe

Rank: President [?]

Points: 4330 [?]

Votes: 242 Score: 3.7 [?]

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.)

Comment from Cliffs analyst meeting yesterday

posted on Jul 27, 2012 07:05AM

as stated by the CEO

"For our chromite project, we expect to spend approximately $75 million in 2012. During May, our Board of Directors approved the advancement of the project from the pre-feasibility stage of development to feasibility. During the quarter, we also announced an agreement in principle with the Government of Ontario for key elements of the project, including the development of provincial infrastructure. We are looking forward to providing additional components of the project economics, as well as other meaningful project information, at our Analyst and Investor Day next week in Montréal"

Stay tuned for Montreal

As Cliffs SP goes down the crapper they'll be under pressure from the Hedge Funds to reduce costs and increase profits. IMO, BHP/RioT/Vale/Xstrata all waiting for the right price point to take them out.