Hey Alex, sorry to hear you are so down on this. Most of us longs also have an ACB of over $1 and we all regret not selling some of our shares when this was over $2.50. But that is looking in hindsight.
But its not only CUU that has taken a huge hit from their highs over a year ago. Most junior stocks have lost 50 - 80% of their value. Just look at the GDXJ index and you will see what I'm talking about. I have one stock that I bought at 1.40 and is now trading at near its cash value of .50 cents. Am I upset, you betcha I am, but I know it will go back to its true value + more within a year or two. That is the nature of Jr. venture stocks. If you have the patience to wait it out you will be rewarded handsomely. I've played this game for over 20yrs. Believe me, I know what I am talking about.
Do yourself a favour and just call to speak with Elmer or Mike. They are very nice people. Let them know of your concerns. You want to know why some longs here are very positive about this stock? This is the reason we are, well at least I am. We talk to management to get answers. Believe me, I was pissed as everyone else was when we got this long delay of over a year. I was expecting our buyout to happen last year and so was everyone else. The first thing I did was call Elmer to get an explanation and you know what - he didn't BS me or make excuses - he admitted what the mistakes were and what they were doing about it. When you talk with them you get genuine sincere answers. I can't explain it but I've been around the block to know when people are pulling BS or not and I can tell you these guys are straight shooters. That more than anything else has put my mind at ease regarding this investment.
If you are concerned about the price you bought in at just talk with Elmer and let him know your ACB. Ask him upfront if you have anything to worry about in a buyout. He won't tell you what price they will accept but Í've had enough conversations with them that I'm confident they will not accept anything less than $3/sh. They also have alot of their own money riding on this as well and they are going to seek max. value for it. If you don't believe me than do yourself a favour and go down to the conference and look them in the eye to get answers. Body language speaks volumes imho and it often tells you more than mere words can on a bullboard. Well, I've said all I can. If you have the fortitute to wait it out a few more months I think it will be well worth it imho.
