HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: transformative deal..other metals
Sept. 27, 2010
Recently, Dahlman Rose initiated coverage on Cliffs Natural Resources
(NYSE: CLF) with a Buy rating and an $85 price target.
Dahlman likes that mix of domestic and international sales and exposure to core steel making raw materials (iron
ore and coal). Dahlman looks for the company to be a consolidator in the mining sector, with management looking to add bolt-on acquisitions to the company's coal business in the near-term.
Over the intermediate term, it would not be surprising to see Cliff's attempt a transformative deal that would substantially increase its footprint and could further diversify Cliffs' product offering into other metals.
Base metal prices are continuing to rally as prices climbed again last week with copper nearing YTD highs. Improving confidence in the global economy, declining inventories and a weaker dollar are behind the recent move.
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