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Arcan Resources Ltd > NEW ARCAN ARTICLE!!!!!

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Post by BaystreetBrian on Dec 22, 2014 5:04pm

NEW ARCAN ARTICLE!!!!!

https://www.newswire.ca/en/story/1467079/stornoway-portfolio-management-supports-arcan-resources-recapitalization-proposal

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Comment by righand2 on Dec 23, 2014 9:16am

Those are the guys getting the special bonus shares, so what would you expect them to say?

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Comment by BaystreetBrian on Dec 24, 2014 7:20am

Arcan has protected itself for an oil-price slump with hedging contracts through 2016 and expects oil prices to rise to $130 a barrel within 18 months, President Doug Penner said in a phone interview. “We are definitely carrying our fair share of debt,” Penner said. Argent is less affected by the crude price decline than people might think because it has plenty of room left on its credit ...more

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Comment by BaystreetBrian on Dec 24, 2014 7:23am

disregard that last paragraph

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Comment by rad10 on Dec 24, 2014 9:36am

[/quote Not sure how accurate this quote is - if accurate Arcan does not need to recapitalise.

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Comment by rad10 on Dec 24, 2014 9:40am

Exactly righand! The situation at Arcan is not as dire as they would have you believe. The gouging of the debentureholders is unacceptable - they only have a 40% commitment. If you are a 2016 you will do OK with an equity redemption at term - 2018s, are a little more precarious. I will check the prospectus but I think they will need 66% of each issue.

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