If you are so sure that there is no value in CUU, then why do you bother coming to this board? You have obviously made up your mind that all of the assets owned by CUU are completely worthless and that this stock should go to zero. If that is the case, then no amount of discussion can make you change your mind since you have already deemed the assets of CUU as completely worthless.
Whether you like it or not, the assets held by the company hold some intrinsic value at all market prices whether that be $1, $1 million, $100 million or $1 Billion. That value is affected by various factors whether they be commodity prices, project economics, broader market conditions, etc. Seeing as we know your valuation (zero) and that you do not expect it to change, the fact that you are here is a complete of your time. You also just wrote two pages lecturing the shareholders of this company that none of their opinions have any worth because they made an investment mistake in the past and haven't learned from it because they still hold shares. So to me that is an even bigger waste of your time as you are reading posts on people's opinions who do not matter.
Whether you like it or not the properties that CUU own do have some value attached to them. Whether that is more or less than the current market capitalization of the company is up for debate. The current market capitalization of CUU is ~$50 million. They own ~23-25% of Schaft Creek, VanDyke, Sombrero Butte and now have a 42% interest in Carmax. If the company were to be liquidated tomorrow to Teck or whoever else they most certainly wouldn't offer $0 for it. I value the company based on its assets, not based on where you tell me you think the stock price is going. The current share price does not always reflect the true value of a company, if it did I would own exactly the same number of shares as you do. The fact that I once overvalued this company at some point in the past has no bearing on whether is it overvalued (or undervalued) now. Whether the underlying value of the assets is greater or less than the market capitalization of the company determines whether it is overvalued or undervalued today. We know where you stand now so you do not have to repeat yourself.
The people on this board do not need yourself or anyone else for that matter lecturing us on the past transgressions. Mistakes get made, no one here is claiming they didn't make any on trading CUU. Because you have made better choices in the past doesn't make you more or less correct in this case. If you want to make the case for why the company's assets should be valued at less than $50 million then go right ahead, but the fact that the share price is trending toward 0.1, 0.05 or even 0.02 does not make the value of the properties worth less. They either have value or they don't.
Go find value somewhere else as you seem bent on the fact that there is none here. |
