The sky is falling! The sky is falling! Buy, buy, buy.
I am looking at the doom and gloom in the marketplace and I think about how in some cases people overreact to bad news. I am going to stay away from the stupid pricing in mortgage bonds and focus on Vale, a.k.a. CVRD. Vale owns [...]
The Herald Sun: Whole new ball game
A key note to the Guinea government: Next time you want to nationalize something, wait for the rail line to be built. I mean seriously, if you are going to take Rio Tinto, do it right. Get them to invest at least 1-2 billion in capital and get some [...]
Reuters India: Russians, Japanese vie for CSN unit
Ok, well, not unknown, but we are not certain who they are. There are a couple separate lists provided by different people, so I tend to not trust them. The valuation numbers are more interesting. We are seeing a $10 billion price tag for the whole project or [...]
Cleveland-Cliffs and Alpha Natural Resources to merge, creating Cliffs Natural Resources, a leading diversified mining and natural resources company
Now, finally, Cliffs is out spending its seed corn. The question is, will it get returns from it? What has protected Cliffs in the past from takeover is its horribly structured off-take contracts. Why would Mittal, for [...]
PR-Insider.com: Cleveland-Cliffs updates 2008 iron ore revenue-per-ton guidance; provides commentary on 2009 North American iron ore pricing
Reuters: Cleveland-Cliffs buys out minority holder in Minnesota
What is 30% of 5.2 million tonnes of U.S. pellet production worth? Apparently a whole lot of money. Let’s break down the math. Cleveland-Cliffs bought 30% of United Taconite from Laiwu for [...]
Advanced Explorations Inc. to earn up to 70% interest in Roche Bay Project
Sinosteel gets control, but likely to have company at Midwest
Okay, they have more than 50%, but they are probably not going to get 100%, and that sort of makes their life hard. They are going to be stuck in never-never land like Portman. They’re going to have shareholders whom they are going to have to [...]
Forbes.com: EU extends deadline for inquiry into BHP Billiton’s buy of Rio Tinto to December 9
The EU wisely said, “Wait a second, do we really want a really, really large mining company?” and now is going to spend more time taking apart the BHP-Rio Tinto merger. On the back of this, expect the EU to [...]
