RE:RE:RE:CYT deal..... I find it amusing (sad actually) that anyone still invests in Catalyst Paper. The company filed for creditor protection in Jan 2012, and wiped out all of its shareholders in the process (bond holders also took a good haircut). Catalyst re-listed and re-issued common shares shortly thereafter (Jan 2013, I believe) for $2.00/share. These shares are now worth $0.65 and will soon be worth $0.50/share as per the newly-announced restructuring plan.
I worked as a mid-level manager for Catalyst for 18 years. I left in 2011 as it was obvious the company was headed for creditor protection or bankrupcy. Five years later, little has changed. This is in spite of Catalyst wiping out a significant portion of its debt as part of the creditor protection restructurization agreement in 2012. Should anyone be surprized that Catalyst is unprofitable and unable to pay its debt? I know all the Catalyst mills in Canada very well, having worked in all of them in my career with Catalyst. These mills are all very weak assets. All of them produce commodities (news, directory, magazine) for declining markets, all are very old and haven't seen any significant capital in 30+ years, and all are high cost compared to modern mills in Europe and Asia. I can't comment on the two US mills acquired after I left, but considering the very low price Catalyst paid for them, it would surprize me if these were high quality profit-generating assets.
There are lots of solid companies to invest in both in Canada and abroad. Well-managed, profitable companies that produce products and services for growing markets. Why would anyone invest in Catalyst Paper ? To those who have, it's unfortunate for you, but you get what you deserve.