Enron is boss...no doubt in my mind who is calling the KS shots now! Swaisland, McCabe, Valentine...directors no more. How long before Kafus is an operating division of Enron? What's the disposition of non-performing assets/projects? Will Canfibre and biocomposities be the sole survivors? And what about Canfibre...will the remaining shares be bought in, and at a fair price or will ENE permit Carl & team to move forward to profitability and beyond? Questions, questions, and one weakling of a stock...a ton of uncertainty at the moment, largely, IMO, as a result of what's going on with the parent, and not what's going on at Riverside or Lackawanna.
A year has been lost. Price gains have vanished. Cash flow and eps will be a few cents less than expected or projected as the co. was forced to continue to dip into restricted cash borrowings to fund the ramp-ups. Credibility took a hit. But, on the brighter side...IMO there is much less risk now in the stock than there was this time last year. Riverside passed its final performance test. Home Depot is selling AllGreen MDF. A national distribution program has been established. Lackawanna could be producing commercially by year end. Last summer we could merely say what?...that Riverside had started up and that ramp-up to full was expected to take six months or so.
Ditto Ben, haven't sold a single share of CFGL. Still see significant upside potential. Am I worried that ENE/KS will reel in the shares at US $2? Naw, they wouldn't dare...although I do admit to the possibility...and as the stock slides toward $1 I do have moments when I believe I might accept that offer if it were presented! |
