The reason this stock doesn't move is becauseManagement doesn't want it to, for the past 2 years the company has been buying back shares so the lower the share price the less they have to pay for the shares. Look at the News or updates coming out of the company during the period of time, Not one report. We won't see anything announced by them after after April 23 when the current buy back plan expires. After that we should be flooded with news as there are around 5 million options outstanding for a price of 3.50 per share. These of course are worthless until the share price goes above that price.
If you think this stinks then go the AGM and tell them - the AGM is on May 11 2010 at the 5 Calgary Downtown Suites at 10:00 a.m., it's time management heard directly from the owners of this company.
From last buy back annoucement
As per the TSX approval, Calvalley is authorized to purchase up to4,948,029 Common Shares representing 5% percent of the currently issuedand outstanding Common Shares of Calvalley. Unless Calvalley isutilizing a Block Purchase Exemption as permitted by the TSX, purchasesare subject to a daily purchase restriction equal to 25% of the averagedaily trading volume of the Common Shares over the past six calendarmonths, or a maximum of 28,824 Common Shares per trading day. As ofthis announcement, there are 98,960,580 Common Shares outstanding.
Calvalley is authorized to make purchases during the period of April 23, 2009 to April 22, 2010or until such earlier time as the NCIB is completed or terminated atthe option of Calvalley. Any Common Shares Calvalley purchases underthe NCIB will be purchased on the open market through the facilities ofthe TSX at the prevailing market price at the time of the transaction.Common Shares acquired under the NCIB will be cancelled.
Calvalley's Board of Directors believes, from time to time, themarket price of its Common Shares may not reflect their underlyingvalue. The Company acquired 2,909,918 Common Shares at an average priceof$2.238 per Common Share under its previous NCIB which expired on April 15, 2009. Calvalley's strong cash flow capability and debt-free balance sheetprovide the opportunity to capitalize on the current valuation ofCalvalley in the market which, in the Board's opinion, significantlydiscounts the value and potential of the Company's asset base.