RE:RE:Special AGM I arrived recently when I saw it was a Ben Graham type Net net. Market Cap below Current Assets minus all liabilities.
I would vote for a few new Directors, outside people to cut back the G&A. They are buying back share at this discount. That is a good move. Buy back as many as possible at or near these prices.
I do think there are a few undervalued sectors in the Canadian and US markets. I would not go offshore into some privates to find investments. That is a perscription for how the insiders steal the CAASH$$$$ from the Public co. Because the auditors are not going to go offshore to check the assets or the books. Think Sino Forest and Bre-X for examples.
There are a few Canadian RE assets that look really cheap. but you have a minority position with a Control Shareholder. Melcor Developments. Morguard Corp. Morguard REIT, and TWC Enterprises. I think Canfor and West Fraser Timber look undervalued. But Canfor is a "Control" situation also. Then in Oil and Gas the clear undervalued is Africa Oil, then maybe second is a Cenovus. I like Africa Oil becasue it is not a "control" situation and is about a market cap that we can take 5% plus and have a meaning ful profit and try and go 10% plus all the way to 20% and then either bid for the remainder with our cash plus debt, or call the meeting and throw those bums out.
As much as you don't like the Middleman's, they are better at capital alloctaion than Africa Oil.