might explain the quiet accumulation of late ...
EarthFirst was granted creditor protection under the CCAA and
Ernst & Young Inc. is the Court-appointedMonitor of EarthFirst's CCAA process
We have seen recently what this process has done to IQW among others.
Quebecor share price fell hard just like EarthFirst ... and when you least
expected it an announcement was made by IQW to potentially move out of
creditor protection mode ... and you saw huge trading in IQW last week ..
I am only speculating here but at some point I think EF will go the same way. After all,
EF did hand over the process to Ernst & Young Inc ... not some fly by night operation.
Thus, Ernst & Young Inc will make absolutely sure the process is handled properly.
So I again come back to the quiet accumulation of shares at .03 and .035 and .04 and even .05
Remember this piece of related news:
April7, 2009 - Global wind energy is expected to almost triple in the nextfive years, according to the Global Wind Energy Council (GWEC), at332GW, up from 120GW at the end of 2008. In the face of a globaleconomic crisis, countries around the world are investing in
alternative energyand clean technologies as a cornerstone of their stimulus plans, andthis level of commitment will continue to drive growth in the windenergy markets, despite challenging conditions in the project financesector.
............ so on the surface it would appear that EF is in a very hot sector.
Any news of lifting the creditor protection or that EF might be acquired would drive the volume and
share price to levels we haven't seen in awhile and likely do so very quickly. Those are the only two reasons
I can think of to explain the EF accumulation of late ... why else would anyone buy these shares at these
levels unless they honestly felt there was a reasonable chance of success.
Could EF double or triple from these levels .. probably in a heartbeat .. will they? Well that's the question!
If I didn't see the quiet accumulation of late I wouldn't even ask the question ..
Since the end of March, just two weeks ago .. over 3 million shares have been traded in EF
some were sold and far more were bought between .035 and .05 ..... so it does beg the question, WHY?
It appears that someone beyond you and I knows something & EF still flies under everyone's radar .. for now!