Despite the re-election of Christy Clark as B.C. Premier, proposed West Coast oil pipeline expansions for Alberta crude still face regulatory and political hurdles. Therefore, Western Canadian oil producers will likely continue to rely on rail as an alternative. Canexus Corp. is betting on growing demand for the rail option by expanding terminal operations at Bruderheim, Alta. On Monday, it announced a $100-million financing in relation to the project. As the stock dropped on the news Tuesday, director William MacAdam bought 15,000 shares in the public market.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
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