Some of the notable BOD losers are gone.... long road yetWithout any fanfare either.
Jimmy with his 0 (zero) shares is gone. As are others. They've shrunk the bench.
Jorden N the CFO is in the chair, and maybe 3 months into his 12 months circuit to become a caretaker CEO.
KS is damaged goods and a brutal steward of firm resources as we all know. Oh well. He won't be around much longer most likely as a three legged dog can look after 2 assets in the same town. The power plant runs itself with a handful of staff, and the mill likely needs to be there to capitalize on local fibre and there is nothing else running in that city. It certainly need not be invested in. It can make good whitewood for Asia and Home Depot but nobody wins with the workforce in Mackenzie for the most part. Investing in the asset is foolish so a caretaker CEO simple will not do that and will pay the shareholders-- run it like Acadian Timber and keep the payout ratio at 90%+.
I took my dead money out of this, made 50% on better assets, expect to make another 50%, and will drop in some pocket money into this under a dollar. But that's the thing about dead money -- it's dead. This won't go anywhere until Sheilds is out, so there's easy money to be made in the Norbords and WFTs of the world until sometime into 2021.
A bad strategy is one thing, but wait until this clown gets CFF delisted. The market cap is above the threshold but the liquidity is such it could be yanked. Why? Sheilds loves that junker mill more than paying a div, refuses to recant his stupid M&A fetish, and took a mere modest salary cut that exudes greed and sleaves a trail of ooze. Duck that clown, and it's a shame as his career pre-CFF was esteemed. Don't let the door hit you on the way out, you stunned and stammering buffoon. I look forward to buying more with the house's money as the power asset is a quality annuiity cashflow that will easily be renewed in the 12 or so years when the EPA expires as it's one of the few BC-based entities Hydo is bankrolling.
Sec. 711.
TSX will normally consider the delisting of securities of a listed issuer if, in the opinion of TSX, it appears that the public distribution, price, or trading activity of the securities has been so reduced as to make further dealings in the securities on TSX unwarranted.