UPDATE 3-Harbinger hasn't met with Cliffs since protest-source

(Adds details on share count in paragraph 6)

NEW YORK, Aug 5 (Reuters) - Hedge fund Harbinger Capital Partners, the largest shareholder in iron-ore company Cleveland Cliffs Inc (CLF.N), has not met with the company since the fund registered its protest over Cliffs' proposed takeover of Alpha Natural Resources (ANR.N), a source said.

Harbinger said it believes the Alpha deal is not in the best interest of shareholders in a regulatory filing on July 17. The source, who is close to Harbinger, said the two parties have not met since then, despite a report last week that said Harbinger expected to meet with Cliffs executives soon.

Cliffs has not heard from Harbinger since the filing, Cleveland-Cliffs spokesman Steve Baisden said in a statement.

"We continue to believe that the transaction with Alpha is in the best interests of our shareholders," Baisden said.

The hedge fund wants Cliffs to consider all options that would maximize shareholder value, including a sale, recapitalization or an alternative transaction, said the source.

The source also said Harbinger has not been selling its shares in the company. Harbinger said it held around 18 percent of the company's shares in its latest filing but Cliffs said that according to its latest share count, Harbinger holds just under 16 percent.

Cleveland-Cliffs said it agreed to buy coal miner Alpha Natural Resources on July 16. The deal is currently valued at about $7.9 billion.

Shares of Cliffs closed down $6.74, or 6.7 percent, at $94.05, after falling as low as $88.27 earlier in the day on the New York Stock Exchange. (Reporting by Michael Erman, editing by Leslie Gevirtz, Phil Berlowitz and Ben Tan) (Reuters Messaging: michael.erman.reuters.com@reuters.net; +1 646 223 6021))