I'll tell you what they are afraid of ---
Just go listen to the Tembec Conference Call -- no wonder Barclays and Raymond James were buying big-time at the end of the day. BMO is also putting up buy recomendations.
Newsprint segment forecasts higher revenues next quarter (not the current quarter), but following drop in electricity rates (Jan 1, 2011 in Ontario). Export markets are growing at a slow (single-digit rate, but growing nonetheless). Regional and North American markets have stabilized and declines are only single-digits now -- with the economy continuing to recover).
Tembec says that they will be putting in monies into their underfunded pension plan in 2011 from existing earnings.
Specialty and Commodity Pulp. China will likely start buying again in the new year -- supportive of pricing again -- which has declined the past 3 or 4 months)
Lumber demand fromChina for Cdn products is to be about the equivalent of 200,000 new starts in the U.S. increasing to over 400,000 new starts over the next few years.
All you need is a transcript of Tembec's conference call to put in front of the Honorable Judge with a reference to valuation and maybe you will get something.
I do not know what is worse being a shareholder of ABWTQ -- where the existing board and management have outright lied to secure their own personal futures or being a shareholder of Tembec (whose mgmt gave away most of its equity to the hedge funds) under their own recapitalization plan back in February 2008).
Bonds -- are you sure you do not access to a friend's fax number?
Tembec says they are working on a transaction, but are not ready to announce it yet -- I couldn't tell if they said it was 15 to 16 million or 50 to 60 million. My guess is that it will be related to BioMass. Expect to receive all 24 million in Green Transformation Credits from Canadian Gov't -- how much has ABWTQ filed for.
Hope this helps.
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