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Gold/Mining/Energy : Churchill (CUQ), PE of 3!
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To: Gulo who wrote (212)3/1/2000 9:47:00 PM
From: speculatingvalue   of 264
 
1. They have shareholder approval to dilute the company by up to 50% for acquisitions and their new hire specialises in acquisitions.

My guess is they'll keep the cash and spend the shares. I agree - that means they have to get the share price up. When you think about it, no one spends money to go to a senior exchange unless they plan to start promoting their stock.

2. I notice they have tax losses they need to use this year or they will lose them. My guess is that earnings will be around the .25 level (diluted), but that there will be accompanying press about other news. They seem to be cleaning house for some changes.

3. Going internet (-;

Actually, with the potential dilution they are proposing, they may be looking at being acquired or merging rather than acquiring someone else. I notice they are doing a lot of work with malls - maybe they are looking at getting in with one of the big mall companies. It would be in keeping with their real estate history.

If it wasn't for their shareholder's rights plan, they are an extremely attractive takeover target. 80% of the company is presumably available.

A corporate raider could buy 80% of the company for $8 million US and take it private. With $20 million CDN in the bank and $200 million flowing through the company, he could then use the company's own money to repay himself the cost of the purchase.

If the share price doesn't rise, CUQ will be worth more dead than alive!
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