TSX:CUS.DB.D - Post by User
Post by
BlueCollar51on Jun 05, 2015 3:31pm
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Post# 23802027
Enough is Enough
Enough is Enough
I am out of here at $1.65
I think that today’s Share Price strength could be one of those Short Covering / Dead Cat Bounce events.
I don’t think CUS will go belly-up anytime soon.
Although the “Dumping” of NATO may improve the EBITDA a bit $75m won’t help the debt issue much.
I forget what NATO was valued at after the last write down but if you subtract $75m from that and then subtract the difference I don’t see a Balance Sheet “Improvement” it will be WORSE. If they sell N. Vancouver for less than what they valued it at the Balance Sheet will get another hit.
It’s not a very encouraging turn of events.
Canexus will no doubt survive in some form but I think that it will be a very long time if ever before the current Shareholders are rewarded.
I now have the opportunity to do a Kherson and “Invest” what I have salvaged in something that goes to ZERO. (Not Likely; It would be extremely difficult to match Kherson’s performance)
There is a “Silver Lining” for me. I have more than enough “Realised Capital Gains” avaliable to apply this “Realised Loss” to.
As Always; Do Your Own Due Diligence; It’s Your Money !!