Long Run Explor Ltd Ord WFREF

Multiple Down Grades

[JohnJBond]

 I was convinced that the Cadent director resignation was because he wanted the dividend. I couldn't see how the majority would be calling for such a terrible change. I was wrong. * Long Run Exploration : CIBC cuts price target to C$6.50 from C$7.25 * Long Run Exploration : CIBC cuts to sector performer from sector outperformer * Long Run Exploration : National Bank Financial cuts target to C$7.50 from C$9 * Long Run Exploration : TD Securities cuts target to C$7.50 from C$8.50; buy The good news is that the bad news is now behind us. At $5, this has an 8% yield. The price targets, although cut, are all far ahead of the current price level. Buyers who want yield will replace current owners who wanted growth. But what a way to distroy shareholder value. This management team has demonstrated they have some serious deficits in judgeement.