Tambourah Metals Ltd T.TMB.W

RE:Tembec provides September 2015 quarter forecast

[Lumberfeverlong]

Dear Tembec executive who likely posted this press release, the market has answered with a resounding yawn. One non-liquidity depreciating quarter does not improve the long term prospects for this broken company. We are heading into winter which is by far the highest cost period for north eastern forestry companies.  The liquidity burn will resume before long and come the new year Tembec will again be scrambling to sell assets to extend an increasingly non-existent runway.  The problem is that the only desirable asset they have left is the one they bet the company on.  The only other realistic option Tembec might have some control over is alluded to in the press release. The reference to accessing capital markets and the fact that they have engaged in discussions with investors provides a possible band aid solution. Those investors are likely Fairfax and Steelhead.  We can expect massive dilution for those who do not participate in such an equity or convertible debt financing.  For those who will stick around as shareholders, your best hope is that Mr. Watsa gives Lopez the boot he should have received a long time ago from Tembec's complacent Board.