Not a news release but a Position statement.
1. Share price, what can be said? some investors are losing patience and selling in a low volume trading environment. Concurrently potential buyers are adopting a 'wait and see' stance. Both contribute to lower sp. We speculate that there are some dark machinations at play regarding low sp but those are just speculations, no solid evidence.
2. Cliffs is having income reductions so they have to forgo or delay of operations and plans. That is a normal reaction to market forces. It does not mean that they are abandoning anything, just delaying until more favourable times.
As for take over possibility I paraphrase:
<Why buy the cow when you can have the milk for free?>
Ok they are not getting anything for free but they are positioned that should some other party try to take us out they have the option to match that offer and not be frozen out. They want assurance of available ore.
3. Government?
We all know that Ontario talks a lot but is not putting the cash where the mouth is.
Federal, who knows? If conservatives were in power in Ontario then maybe the Feds would move quickly. I think they will put up some cash for infrastructure like roads because it is in their financial interest to lower their costs of supporting the natives.
4. Financing: Very difficult IF there is no infrastructure present or assured.
5. Noront production:
Chromite has to wait for rail line, and per company plans, for Eagle to be producing.
With Cliffs delaying and economy being what it is, development of Eagle's Nest is not on fire. I suspect management is slowing down to be able to take advantage of more favourable conditions re infrastructure and financing ( That pipe line is a distant memory).
