I have been holding Connacher since Aug 2005 where I began accumulating it at $0.85 all the way up into the $4.00 range. I have bought shares on margin after it was made available to me at $3.00. I have never had to sell shares simply because the share price has been able to remain above $3.00. That all changed over the last couple of weeks when CLL dipped below $3.00. I prayed it would be short term but the market has been relentless. Still I hadn't heard from TD waterhouse untill today. They called this morning and left an emergency message on my phone. They then proceeded to sell some of my shares this afternoon. On the one hand it's a releaf that it's taken care of, but on the other hand it's a darn shame to have had to give them up at $1.77.
I still firmly believe in this company and it's future plans for growth. They are not at fault here in fact they should absolutely be commended for the work they have done to get this company where it is today ( production wise ) And I would like to add how incredibly important it was for the company to secure financing when they did. Could you imagine trying to get financing for Algar today.
So here's to the future of Connacher Oil and Gas....
Let's all have a drink to forget this mess and drink to the future, Here, here, I'll be at the pub, Cheers........