RE: Early in the new year Very interesting how the sp has been almost a straight line at 77 cents and almost no volume, I am no technical analyst but this is not the normal share action by CLL so this must mean something. No insider selling yet so this is a good sign. Wish the company could give more info/guidance to shareholders. They seem to indicate JV talks were very close, now we hear nothing...what does that mean?
Certainly oil hovering around $100 is giving stability to Connacher.
Wonder how much time will go by before we can say whether a hostile takeover by the "unknown" suitor can be discounted. I would think by the end of Jan, if we dont hear anything then they have forgotten about Connacher, but I still think a second public offer is forthcoming, they have nothing to lose.
As for the refinery, the purchase of 23 acres doesnt mean anything, it was for sale so they bought it for potential future use, a smart move, but doesnt indicate anything. Same way I would buy the lot next to my house if it ever goes for sale so I can control/bufer my land holdings.