NYSE500$6.9B USD Market Cap. full transcript...

NYSE500
$6.9B USD Market Cap.

full transcript here

http://seekingalpha.com/article/189370-cliffs-natural-resources-inc-q4-2009-earnings-call-transcript?source=bnet&page=1

Highlighted the best bits below :)

Hold onto those GWR shares folks, our day of reckoning is getting ever closer.

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"Turning to the balance sheet, at December 31, 2009, cash and cash equivalents stood at $503 million versus $179 million at December 31, 2008. And we had no borrowings against our $600 million revolver. For the year, we generated more than $185 million in cash from operations. This does not include a $148 million customer payment that was due in December, which we did not receive until January 4. This is obviously not reflected on the year-end balance sheet, nor included in 2009 cash flow."
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Capable of an easy cash takeover of GWR for $1B AUD?



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"You know, Cliffs has traditionally not been in the mining business, had any exploration attached to it, and it is time that we try and get, if you will, the third leg of the stool, you know, organic growth, M&A activities we have always been involved in. This is kind of exploration or right to, this isn't putting drills and lots of geologists in the field, this is more working contacts and working with juniors, looking to move objects from exploration into funded projects"

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Q. "you have got a very strong balance sheet. You will generate several hundreds of millions of dollars in cash this year. And I understand Cliffs has obviously got a very strong growth focus and I think the last 12 months showed that we do need cash on balance sheets much better than this. By the end of the year kind of like a point in time, if you cannot find a suitable target, would you consider returning some of that cash to shareholders, or do you think you would want to keep that cash and let it build up for things that might come up in 2011?"

A. "we will certainly evaluate as the year goes on what the marketplace is like and what the opportunities out there are and review all those options with the Board and hopefully make the appropriate decision"