Ah, CR, the thought most investors don't like to think about, especially long term holders.
From my simplistic point of view, there are some scenario's ie; win Court case with compensation, JV investor in Kandoman Resources, Indonesia UCG contract, that if Cougar can swing any of them, it may negate a need for a CR, or even give such better value to do so.
IMO it may be a bit early for a CR, doesn't make me right, but I think they may want to hold off to see if a JV or sought compensation are likely. The only reason I say that as it would seem a common sense approach. Certainly any major shareholder would not want to be further diluted.
For myself, I've always considered that any CR has to have a point of value add direction to the company, not just to pay admin and licensing costs. Otherwise quite frankly whats the point of being in business?, that's from my investing point of view anyway.
Thanks to the European GFC debacle and to Coal prices presently in the crapper, it is easy enough to be discouraged at this point. But one must remember that historically the wheel continues to turn, it just takes longer at some points. China's growth figures were as expected and in my book 7.5% is still envious. Predictions also that India will surpass China in Coal imports in 2014....
