Arcan Resources Ltd ARNBF

RE: RE: Stock getting whacked....again

[oilnvstr]

If there is a single current executive left on staff next month then the Board isn't doing its job. Fire them all. Gilmet, Penner, Ryder and Fisher have all taken one of the greatest assets in Alberta and have turned it into garbage. The value of this company is split 2/3 to the lenders and 1/3 to the shareholders. The story of this company and the exploits of its management should be taught in every business school as an example of how to destroy shareholder value. The original insiders who bought their shares at less than a dollar have all very likely liquidated their holdings and moved on, while those of us who believed the press releases and trusted management got screwed. Don't believe Crescent Point wil be in any rush to buy out this outfit. They'll wait until their own share price is in the high $40s again and take out Arcan at less than a buck. The sale of the Virginia Hills land for a measely $7mil shows how desperate the company is for cash. The company who bought the land (probably Coral Hills) will make a fortune here.

In the words of the guy on BNN. "This stock is a short. It's going down"