It has had a high of $7 when market conditions were better and the expectations were for 5M + tons of ore. We had only 3M at the time. Therefore the downturn. The continual sell off was a market phenomenum that affected every stock in my portfolio caused by the worldwide liquidity problem. Since then we have fought back to around $2.80 based on good NR and have begun slipping again. I think the current slippage is partly because of the fear of less than stellar news coming plus a fear of a worldwide recession with demand from China slowing down. This, investors feel, might slow down the development of the ring of fire. I do think a stellar NR will fuel at least a genuine uptick in our price that might gain some real momentum if a few rumors of more than Cliffs sniffing around happens.

In summary, no news or a less than steller NR will help will indeed confirm your chart. But, with a great NR I do believe the BOD will have enough ammunition to get Cliffs some competition or a partner will emerge to help us on our way to production. If I did not believe this I would leave the love affair I have with NOT. On the other hand, if I wanted to accumulate more I would cast doubt on our great company.

Goldfinger