Arcan Resources Ltd ARNBF

RE:RE:RE:RE:Presentation

[nlr2]

I live in Canada and am a RBC client. When I went to buy some of the debentures they were listed at $57 when they should be at $570 and my order status made no sense so I cancelled it. Perhaps you need a special account or something? I'm really not sure. 

If you read the prospectus on Sedar for the debentures I don't think that Arcan can buy them at market value. I haven't looked in a while but I believe they have to be trading at par or something along those lines. If I were a debenture holder and didn't think that a takeover would occur before conversion then I would most likely take a cash offer for less then par as opposed to shares at 30 some cents. Any plan like that hinges on the sale of Deer Mountain 2 though. The interest payments are a tremendous drag and need to be dealt with somehow before this company can get back growing.

Nice move yesterday, hopefully it continues. I'm not sure if its because a rising tide lifts all boats or if the winter drilling results and waterflood performance are catching some attention. Or perhaps a white knight is finally arriving to put Arcan out of its misery! One can hope after all.