|
|
News Breaks
|
November 23, 2009
|
| 07:04 EDT |  | CLF |
| theflyonthewall.com: | Cliffs Natural to acquire Chromite Deposits | | Cliffs Natural Resources announced it has entered into a definitive agreement to acquire the “Ring of Fire” chromite properties of Montreal-based Freewest Resources Canada. Under the terms of the agreement, Cliffs will acquire Freewest’s interests in the Ring of Fire properties, comprising three world-class chromite deposits: 100% of “Black Thor” and “Black Label,” and 50% of “Big Daddy”, an adjacent deposit held by a joint venture of Freewest, KWG Resources and Spider Resources. Freewest’s other assets will be spun off into a “new” Freewest. Following this spin-off transaction, the “new” Freewest would exist independently and its common stock would continue to trade on the TSX Venture Exchange. Freewest has provided additional information on the transaction’s structure in a press release issued today. :theflyonthewall.com |
|
|
News For CLF From The Last 14 Days Check below for free stories on CLF the last two weeks.
There are 4 items on the Fly with pertinent information.
Sign up for a free trial to see the rest of the stories you've been missing. |
|
February 7, 2012
|
| 16:23 EDT | | CLF |
| theflyonthewall.com: | Cliffs Natural dissolving Michigan Iron Nuggets JV with Kobe Steel | | Cliffs Natural Resources announced that it plans to dissolve its Michigan Iron Nuggets Joint Venture with Kobe Steel. Cliffs indicated that throughout the life of the venture it had conducted a number of feasibility studies on the possibility of pursuing a commercially viable process, but ultimately concluded that given its strategic priorities to focus on its core business, continued work on the project should be ended. Cliffs said it had less than 10 employees exclusively working on the joint venture and plans to reassign nearly all to other positions within the company. In addition, there are no anticipated material financial impacts as a result of the decision. :theflyonthewall.com |
| | 08:38 EDT |  | CLF |
| | 07:43 EDT |  | CLF |
| theflyonthewall.com: | Cliffs Natural's inexpensive value makes it a target, Bloomberg reports | | No North American miner is a cheaper takeover candidate than Cliffs Natural Resources (CLF) which sells for 6.4 times its cash from operations, after deducting capital expenses, according to data compiled by Bloomberg. That’s less than every other metals or mining company in the U.S. or Canada exceeding $5B in market value, and a 70% discount to the median, and is also the least expensive relative to its estimated net income this year and next, the data show, says Bloomberg. Reference Link :theflyonthewall.com |
| | 06:16 EDT | | CLF |
| theflyonthewall.com: | On the Fly: Periodicals Wrap-Up | | WALL STREET JOURNAL: Five Wall Street banks were invited to bid this week on a multibillion-dollar bundle of risky mortgage bonds held by the Federal Reserve Bank of New York as a result of its 2008 rescue of AIG (AIG). The firms are the U.S. securities arms of Barclays (BCS), Credit Suisse (CS), Goldman Sachs (GS), Morgan Stanley (MS) and Royal Bank of Scotland (RBS), the Wall Street Journal reports...Walt Disney Co. (DIS) and Univision Communications Inc. are in talks to create a new 24-hour cable-news channel that will broadcast in English, the Wall Street Journal reports...REUTERS: The Fed will meet on Wednesday to consider Capital One Financial Corp.'s (COF) bid to acquire ING Groep NV's (ING) U.S. online banking unit, ING Direct, for $8.9B, a deal criticized by some consumer groups, Reuters reports...BLOOMBERG: No North American miner is a cheaper takeover candidate than Cliffs Natural Resources (CLF) which sells for 6.4 times its cash from operations, after deducting capital expenses, according to data compiled by Bloomberg. That’s less than every other metals or mining company in the U.S. or Canada exceeding $5B in market value, and a 70% discount to the median, and is also the least expensive relative to its estimated net income this year and next, the data show, Bloomberg reports. :theflyonthewall.com |
|
|
|
|
|
Subscribe for More Information