CLR open to Partner possibilityOn September 26, 2017, I posted the reasons why I sold my shares in CLR. Since then the shares have lost 50% of their value. The reason I sold was a small news item in a British based publication called Undercurrent. It reports on news in the fishing business. It then said that part of the surf clam quota held by CLR was going to be given to a group of native nations.Management of CLR did not publicly comment on this news item!
Several days ago another interesting news item appeared in Undercurrent."Clearwater Fisheries is open to partner possibility as it faces excess clam capacity, scallop headwinds with its stock price down by more than half in 4 months and challenges on the horizon in its surf clam and scallop fisheries. Clearwater is looking to shore up its finances".
I think it is to early to tell how these issues are going to be resolved. Consequently,
I will bide my time before going long shares in CLR. The Canadian Government through its expropriation of quotas without compensation has created enormous uncertainties for all investors in Canadian stocks, hence prudence is the watchword.
Maldoror