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Message: Boardroom coup likely to see Cliffs on the selling block

Thanks LauraB for posting. Some observation on old CLF behaviour.

It would appear that CLF has received the confirmation from the vote counting people that all six Casablanca nominees have won. Unless it's too early in the morning without enough coffee for me to notice the count results, at least an acknowledgement that says something like: "according the official count the official voting results, as certified by inspector of elections show that....".

But apparently CLF has difficulty accepting the results. I have checked their website today at around 9 am (6 Aug), but did not see any new NR after the 5 Aug NR which has this convoluted statement: "The Cliffs Board will not contest thepreliminary voting results and, as such, these results will be final once certified by the inspector of elections."

This is to indicate that old CLF has a strange way of doing thing. It appear to try very hard to cling to the power. Perhaps, they don't realize that they have lost the proxy fight.

Well, Casablanca said [it now had a "mandate" to reinvigorate the company and "refocus its strategy"]. So, we can take that as an indication that the resultsPresumably, the first few key things to do would be

- Elect the chairman of the BoD

- Fire the old CEO and the upper echelon, including our beloved Bill Boor (at least, to prevent him from issuing any additional announcement/comments on behalf of the new CLF).

- Install new CEO to run the new CLF under the new direction of the new BoD. Some of the directors from the "old regime" may find it would be to the advantage of their reputation to jump ship before getting kicked out of the BoD in the next AGM.

goldhunter

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