Arcan Resources Ltd ARNBF

Zeus55

[profess]

You obviously don't understand the concept of a distressed sale.

Under those conditions Arcan would have taken the first reasonable offer thrown at them, but that's not happening.  The fact is that Arcan would survive even without selling DM2.  I'm not denying the management screw-ups and their severe debt loads, and the resulting SP crash.  I contend that the primary purpose behind the sale of DM2 is to take the weight of the DB's overhang off of the share price - the evidence of which we are seeing with the strong up move this past week.

It appears that mgmt has recognised the errors of their ways and are finally making decisions that are in shareholders best interest.  I for one am pleased with the measures they have taken in recent weeks.  If you are not then what are you doing here?  Sell & move on.

Call me a foolish optimist but I am still confident Arcan will not only survive but prosper on the strength of their Waterflood programs releasing the full potential value of their properties over time.

JMHO & GLTA

[zeus55]

"Arcan would have taken the first reasonable offer thrown at them" --------------------------------------------------------------------------------------- According to some people, Arcan turned down a very good offer, even after they knew their production guidance was ridiculously over-optomistic. After that became public knowledge, the potential buyers ran for the door. Now, they are in