Arcan Resources Ltd ARNBF

RE: RE: RE: RE: RE: RE: RE: Who gets thrown under

[rodeo2]

Not connected to Penner at all. Just calling a spade a spade. If you actually think that when (if its true what you are saying)  Penner made those statements he actually was picking locations then you have your head up your butt. His part of the team was to source the money. The Fishers and Gilmet were the technical driving force behind this venture. They convinced the market of the viability of the ARCAN venture and would of given their professional views on the future of their projects. The Financial houses have their own in house technical people call analysts, These analysts are usually engineers that have the credentials to put their blessings on the venture (if they chose, remember these are INDEPENDENT analyst reports) by putting out positive analyst reports with high price targets which in turn causes a buying frenzy in the stock. All the institutions justify their investments by the due diligence done by these analysts. Once it becomes clear that it might not work out as suspected the institutions get nervous and start unloading their positions and then analysts turn against the company and start downgrading it. Once that happens its over and the end result of the downward spiral is what you are living with today. Te bottom of this one is still not clear but may be substantially lower that todays price justified or not it doesnt seem to matter at this point. Now we see that they were all wrong in their projections ( success still could be achieved if they were capable in re-placing the voidage created from producing the oil by replacing and adding to the volumes removed with water. But this takes years to do and Arcan doesn't have years). At this stage you require a financial person at the helm or close to it to put the clamps on the spending. Penner did a fantastic job sourcing the money, Now he has to conserve the money remaining in the company till the end of this story. And about all you can do is change your stockhouse name from Snowbird to "Stuckhere". I sold my position out at mid $5 per share. Not because I had a crystal ball,  just because of the way the public company markets are made and destroyed by the same people that make them. You are but a pawn in the big picture. Best bet is always not to get too greedy and you are in trouble when you think youre in the game.