hello friends,

long time no post from me. thanks to all who have been doing the heavy lifting at this hub.

just my view on cliffs raising of $1 billion today from a bond issuance, (to close in a few days). cliffs has the best currency to buy companies right now, their own stock, it has had a good run and is trading well with good volume. they could easily peel off some of their high priced shares to make a run at one or more ring of fire companies. (that is one of the reasons i have not sold any of my noront shares as a long term holder in the hopes that a takeover consolidation would eventually occur). shares issued in a takeover of a ring of fire company are virtually the same to cliffs as a new share offering, just another way to raise capital. i am surprised it has not happened already in the ring of fire.

several posters have commented about cliffs having been cleaned out of cash with some recent corporate moves. with the ability to issue shares in a takeover, this was never a concern of mine. the only concern i had was how would they pay the cash for a railroad or smelter or??

should cliffs make a run at some more ring of fire companies ( i own several others also) by using their shares, they would be in the enviable position of now being cashed up (thanks to the current bond sale) with funds to build such neat things as railroads, smelters, etc.

will this happen? only time will tell. and yes, i know the price offered in any takeover is the key for us ring of fire shareholders, but that is another story......

all the best,

jsq