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

RE:Dead Cat?

[BlueCollar51]

peterm wrote:
Well someone's buying. Thankfully.
Honesty/Dishonesty, gotta admit I sure thought (as did everyone else I think) that Nato was operating at a higher rate(4-5 trains) than the actual (2-3 trains). I was hoping for nothing spectacular but much closer to breaking even.

I still feel NATO will be an asset once oil prices move up. How long that will take is anyones guess. Now in the interim it looks like all offers are rediculously low so 1) Sell/Write Off, 2) Continue Operating albeit at a loss or 3) Shut Down and accept the losses that entails.

I'm betting a Sell - an Oil bounce back in a year - management kicking themselves for the Sell.

peterm; I agree that ultimately NATO will become a cash cow for whoever owns it. In my opinion if Canexus can’t get a reasonable price for it now which seems to be the case they should take it off the market. Instead of being a “Motivated Seller” they should be a “Motivated Owner Operator”. A lot can change in a few months. In a year or so we could have “Motivated Buyers” knocking on the door.
 
Everything that Doug Wonnacott has said indicates that he has no interest in making NATO a success. His goal seems to be to get rid of it ASAP.  I think that is “short sighted” but the ball is in his court. Perhaps the current circumstances will compel him to change his strategy.
 
I haven’t sold any of my shares yet. I will give this some time to see what develops.
 
As Always; Do Your Own Due Diligence; It’s Your Money !!