CUU ManagementThought I would chime in and pose a question to the board - what is your honest opinion of CUU Management and the job that they are doing?
My thoughts are that they are doing an okay job, no better and no worse.
I am very happy with the share performance in the last 12 months, but I believe that to be more of a function of commodities pricing than actions undertaken by management (most of which I believe were fairly straight-forward). They have done a good job of starting to spread the name and tell the story (BNN, TSXV Opening, Investor Meetings), which is long overdue.
In terms of negatives, they consistently fail to meet publicly stated deadlines. I see the April investor presentation now says that the Feasibility Study will now fall back to end of July, not to mention the much delayed RE. While AMEC is certainly a cause of this, anyone who thinks that the client doesn't have any control on the due date of a report is completely out to lunch. My other beef is on the private placements. If an offering is oversubscribed (especially in a matter of hours), it means one thing -- you are giving up too much (be it warrants or discount to trading price or both). In the context of the number of shares outstanding, does the dilution really matter? Not really. But the premise remains the same -- get the best deal for your shareholders.
So, long question short: We all know that this is going to an eventual buyout - is Elmer the guy that you want on our side of the table negotiating the deal?