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Arcan Resources Ltd ARNBF



OTCPK:ARNBF - Post by User

Post by OldWiseOneKnowson Jan 16, 2014 10:22pm
398 Views
Post# 22102003

History does speak...

History does speak...Back on Jan 23rd, 2009 with really bad markets, Arcan dipped down to $0.29. The company had hope at that point, however the markets were not good. They slowly climbed back out. That was back when the volumes on the quarterly reports were fairly accurate predictions. Before the 'creative writing team' took charge. This go round, they have been steadily going down and staying low, they will jump back to $0.80 for a day or two and then back in the dump. Investors for the most part have lost hope. I did buy some more today, just for 'shits and giggles', I am reasonably soft hearted and it is cold out, I wouldn't want management to have to resort to desperate measures to stay warm (although, gentlemen, there's a great cardboard shack about half a block away from the Drop-In centre when you need it!). We've heard the 4000 BOE story a few times now, I am stunned that anyone keeps holding out hope that they will actually meet a target? Why? How? When? Again, WHY?? At some point, the few remaining investors will wise up and figure out that Penner has cried wolf so often that it's not even a matter of falling for it anymore, it has just become a standing joke. Remember when he promised 5000 boe's? It was a done deal; signed, sealed and delivered. And then the excuses came, spewing like a pot of hot chili, burning it's way through your intestines, desperately roaring to freedom... It's very odd that we haven't really heard from all of the analysts who were pimping the stock at $5.50. Perhaps they and the bankers know something we don't? It's a tough market for a sale, especially a sale with a decent price. Interestingly enough, management will hang in there as long as they can, mostly because none of them really have any option. You sink an asset like this and NOBODY is interested in offering you a job. This is the only salary they have, they don't have a choice but to stay. Don't feel too sorry for them though, they have lined their pockets well with your contributions over the last few years.
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