RE:RE:RE:Horseshoe -- status quo? Good Q. Let's discuss... I would think the company would be better off with a CEO who dedicated their education, Grew up in, or had yeras of managing a forest industry enterprise.
Rather than a person who specialized in "crunching numbers" to invest in corporations ran by qualified leaders. There is a big difference in watching the descisions made by successful people come to fruit, And doing it your self.
Just because a person understands 2+2 makes 4. It doesent mean they know what decisions must be made in order to turn that $4 into $8 in any particular industry. Many are able to successfully invest in the enterprise. Having weighted assurance based on the CEO's record it will happen. Sort of like 20/20 while the action is in motion. Being responsible for making it happen is a totally different thing.
CFF and WEF were in similar positions in 2009. Financially distressed. Brookfield picked up WEF, Then searched and screened candidates. putting in place Don Demmons CEO and Steven Williams CFO Demmons grew up in family sawmilling , Williams was the former CFO for International Forest Products. (IFP) He was one of the main executives which hepled Duncan Davies the owner grow the company to what it is today.
These two were not cheap to hire. Demmons the CEO recieves well over $2 million a year Williams also well paid. They have in the same time frame brought WEF from Bankruptcy to a financially stable company. Which distributes to it's share holders $32 million in dividends annually. Compare that to what Shields has accomplished.
If you know Hydro policy in BC. Generated commercial volume electricity can not be sold on the open market. It is sold to BC Hydro at Whole sale pricing. The The generation plant is connected to the grid. So is the FFI mill so BC Hydro is still the middle man in control. CFP may use power supplied by the Gen plant, but they have to pay BC Hydro for it. after markup. Not Conifex.
So the gen plant is a benifet if the mills run and supply it with enough fiber. When they don't it is dead weight.
The size of Conifex today is not much greater than a family ran operation. Like Dunkley Lumber. Only Dunkley is very well ran. Dunkley who's mill is between PG and Quesnel, Harvests logs around the Makenzie area. It probably could be added to their holdings.
Method of operations for CFF have to change from the previous agenda. If not it may find it self in the same situation again some time down the road.
In my assessment suggests he needs councilling from some one who better understands the problems he is faces.