CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:18th Annual Whistler Conference...

[Kherson]

Kherson wrote: I see that Doug made his presentation today. Folks, it ain't good...
It was very interesting when Doug answered the question on whether he thought Canexus would get their $525 million investment capital back from selling Blunderheim, if indeed they can actually sell it?
His response was;
The return on investment... the value of this business is not going to be based on what we spent, but on what a buyer believes they can generate as cash flow from the business... In the early stages of this project, there was recognition of value which was certainly at the top end but now recognizing the changes in the market, that value has eroded considerably since then...

There is a world of hurt coming to the present shareholders of Canexus. No wonder that Richard, Brian and Diane sold their shares at much higher prices.
Come to think of it, Doug also did address these clowns on selling their shares when he stated that the company has a cultural challenge to overcome and must now build a culture of accountability and performance. It is pretty obvious that Canexus's BOD presently does not hold it's management accountable...
Good luck Doug...
Kherson