CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:RE:RE:Time to buy more?

[Calgaryrider]

Stupid comment (as usual).

The interesting thing about this is that CUS management appears content to wait for a better offer.

They won't cut the dividend, thus, go into further debt every single day/week/month/quarter.
And they won't sing new contracts because they don't want to commercially limit the value of their asset.
The value of the asset inherently degrades over time as the prospects of a larger (cheaper) pipeline or a competitors rail terminal come closer to fruition.

By waiting, these guys continue to undermine the value of the underlying asset AND the value of the corporation as a going concern.  Beggers can't be choosers.  And buyers are not stupid.  Companies in the oil sands have a long history of waiting patiently for the value of a prospective purchase going to near zero before pulling the trigger.

CUS management is clearly NOT acting in the best interests of their shareholders.

It's an amazing thing to see. 

This $5 stock valuation (all assets and debt inclusive), is losing probably a penny of value a day and has been for a while.

Not cutting the dividend was absolutely irresponsible of management in my view as it faster deminishes the value of this company.