I have been writing about Canexus Corporation's ongoing efforts to complete its North American Terminal Operations (NATO) oil-by-rail terminal for a number of months now. The project has been a complete train wreck for Canexus, no pun intended, with delay after delay and multiple budget overruns. The project is now inches away from the finish line with nearly all of the necessary work completed, within the company's new higher budget. The last step was for Canexus to connect the terminal to the pipeline of a major client MEG Energy Corp. (MEG). [more]
While I am open to investing in many types of special situations, the core of my investment portfolio has become smallish stocks that pay shareholders sustainable dividends that are significantly larger than other companies in its sector with potential future catalysts that will eventually cause Mr. Market to realize the error of its ways and cause the stock to rise. This event-driven income strategy pays you to wait for stocks to provide significant capital gains and theoretically it should provide some downside protection in the event of a drop in the overall market.
I've written extensively about this sort of stock over the past several months. Two Canadian companies that fit this mold that I've mentioned and have huge positions in are Extendicare (EXETF) and Canexus (CXUSF). Lately I've been hearing the siren's song of another company that has some Canadian assets...Atlantic Power Corporation (AT). [more]