Bull
of the Day:

Cliffs Natural Resources Inc. (NYSE: CLF)
is the largest producer of iron ore pellets in the U.S. Cliffs'
increasing international iron ore exposure, recovery in its coal
business and longer-term diversification into the chromium business are
huge positives for the stock.


The company focuses on growing its international exposure in the face of
a consistent decline in North American production. The Wabush
acquisition is consistent with this approach, as production from this
mine will be sold primarily in Europe.


The company has recently raised its iron ore and coal sales and
production volumes with steel demand recovering in the last couple of
months. Separately, Cliffs has also enhanced its financial flexibility
by raising about $347 million through equity followed by compensation
reductions, which should result in annual savings of $37 million.

.

What are the going to do with that $ 347,000,000 ??

.......RL