G' Mornin' all -- I as well was baffled upon viewing that release yesterday. I just wish an accompanying note for reason it was approved had followed t up and suspect it might today..

My lawyer pal out east is sadly (well joyfully for him ) out sking. I agree with comments here it's beneficial for Co down-road.

I did a lil' digging and ran across this article about a Co a coal co - appears many reasons for doing it and IMHO will be beneficial to we shareholders

Cliffs (CLF) to Raise Conversion Rate of Preferred Stock
January 05, 2016

https://www.zacks.com/stock/news/202906/cliff...rred-stock

Best ahead for all of us

Rock on RMHB
Dadon_111