Arcan Resources Ltd ARNBF

Are any debenture holders actually voting for this?

[rad10]

82.5% from an issue that has not declared insolvency.

"We are building for the long term............."
"We plan to grow Swan Hills for the Long term..............."
"This will not happen overnight................"

But here is the kicker - your warrants in Miura expire when???

The only winners are Aspenleaf, the Ontario Teachers pension fund and senior executives at Arcan Resources.

[teevee]

What is surprising about that? The market considers all equity and debentures  as sunk funds. Only the bank lending syndicate is secured. If the Apenleaf deal is voted down, I expect ARN's situation, and especially that of shareholders and debenture holders will only worsen. There is an old market adage-your first loss is your smallest loss. I expect that debenture holders who hang on and

[seriousinvest]

Have you ever considered the possibility that when this deal is voted down as I am confident will be the case that it will be restructurted so that there will be no spinoff which primarily benefits only 3 executives ( who certainly do not deserve to be rewarded) and that the buyer will purchase the entire company and will be releaved of the obligation to buy shares in the spinoff( which I am sure

[teevee]

LOL.....how would Apenleaf buy the entire company without purchasing the shares? If they did purchase the shares, they wouldn't have to purchase the debentures, but would have to redeem them down the road. Why buy the shares or debentures if Aspenleaf is prepared to wait until ARN's situation deteriorates until the secured lenders significant'y cut or call the entire line of credit

[jd43xl]

It is you, teevee, who doesn't have a clue. Or, optionally, you are intentionally trying to mislead people.

[rad10]

teevee - you seem to think that time is against the debenture holders of this company.  Simply put - this is NOT the case................... Every day I "earn" a significant amount of interest.  In 2016 when the debentures become due; one of two things will happen - (1) the terms of the bond will be modified favorably, or (2) we will inherit a substantial proportion of a wholy

[teevee]

rad, You obviously believe that ARN can continue to tread water, satisfying both the secured lenders, and the debenture holders, AND maintain or grow production. If I thougth so, I would agree, however, I do not-instead, I believe ARN will continue to deteriorate. Therein lies the crux of the diference of opinion. Best of luck to you. 

[jd43xl]

But they are not continuing to deteriorate. They have stabilized production, while still paying the debenture interest. Remove those interest payments by converting the debentures to shares, and the company's balance sheet would improve greatly. So teevee, your whole argument is based on misinformation.

[seriousinvest]

TV you continue to amaze me with how generous you are with your time and how devoted you are to helping the debenture holders of Arn.  You claim to not have any economic interest in this transaction but you are willing to post repeatedly the same message over and over that if the debenture holders don't approve this incredibly stupidly structured transaction, the value of their debentures

[teevee]

serious, For your sake, i hope you are correct and I am wrong. It won't be long now and we shall see the outcome of the vote. As I said, if voted down, in the short term, I expect the stock to fall and the debentures to immediately return to the $.50 range. In the longer term, I expect further erosion of ARN's balance sheet. If shareholders and debenture holders think this deal is bad, the