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World Stocks

Range Resources

Buying more?

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

Buying more?

Post Tue Oct 02, 2018 12:10 pm

Anyone buying more ? or is there a price that will tempt you into it?
Higher averages must be getting tempted with the sp below the previous placing price?
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Momo
 
Posts: 4500
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Location: Relax nothing yet...

Re: Buying more?

Post Tue Oct 02, 2018 1:17 pm

I would be incredibly surprised if anyone buys anymore before the refinancing process.

I expect to see huge huge huge dilution, followed immediately by 100-1 / 1,000-1 consolidation.

The only time I will buy more is if there is an open offer as part of the dilutive restructuring process.

Anyone who doesn’t take part in an open offer will be diluted to high hell and never ever see their money back....not that anyone expects to see it back anyway.

I half expect them to fail to refinance and LO sell ‘everything’ off.

To me, this is a dead as dead can be. Indonesia is clearly to be added to the hall of failure, alongside WF. And we have made $400k from 3rd party drilling. A fine return for the $25m outlay.

Dead dead dead. Utterly pointless company. Helps to say it, since it’s true.
Canaries60
 
Posts: 301
Joined: Oct 2013
Location: Portsmouth

Re: Buying more?

Post Tue Oct 02, 2018 1:28 pm

Done it too many times before, the most recent purchases getting binned again at a massive loss after the sneaky £1m dilution. Decision now is whether to let my remainder ride into oblivion or get a couple of hundred quid while I can, given history suggests upside is unlikely.
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ErraticPhil
 
Posts: 1272
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Location: In the land of snap, crackle and POP

Re: Buying more?

Post Tue Oct 02, 2018 6:13 pm

Momo
I keep thinking I could top up when the SP bottoms out! The problem is getting the SP to bottom out.
If it goes sub 5 I may give it a go. A gamble but at these prices any piece of positive news would put it into profit. Then again AIM has always been a gamble. At these prices a big chunk could be knocked off averages - if you want to gamble but you would need to be aware that it was a gamble.
Nedkellylandau
 
Posts: 1991
Joined: Mar 2013
Location: Lost on the Range

Re: Buying more?

Post Tue Oct 02, 2018 8:34 pm

Thanks guys, it definitely is punt money now. I nearly came in for more on the last placing but historically that always takes us down, so stayed away. But with fractions now it is getting tempting, as pointed out on the other board 650 gets around a million shares.

The AGM could cause a few shifts in the BOD, the refinancing or rather their interest in getting it done is a question mark. We've not previously been offered the chance to participate so cant see that changing...........consolidation has been talked about since the Landau days.

Still watching the price movements, but probably will be tempted for a punt.
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Momo
 
Posts: 4500
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Location: Relax nothing yet...

Re: Buying more?

Post Wed Oct 03, 2018 8:19 am

Still no sign of any real progress whatsoever so it’s a no from me. Canaries summarised it well. Hope you guys are all good.
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miniboy
 
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Re: Buying more?

Post Thu Oct 04, 2018 8:20 pm

Holding for now, see no reason to add and average down until there is some indication Range can turn this around.
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day_tripper
 
Posts: 669
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Re: Buying more?

Post Fri Oct 05, 2018 10:46 am

Looks like the market is forcing down the price. Buys at a ratio to sales of 3:1 doesn't push the price up and this morning a lot of sales under £20 drop the price by 12% even tho buys outnumber the sells!
Nedkellylandau
 
Posts: 1991
Joined: Mar 2013
Location: Lost on the Range

Re: Buying more?

Post Sun Oct 14, 2018 8:25 pm

Buying more of this absolute pile of kak? Why would anyone throw more money down the drain?

Seriosly....

W
Wiggy
 
Posts: 2894
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Re: Buying more?

Post Wed Oct 17, 2018 3:21 pm

Wiggy - there is a strong argument for why still be invested in kak in the first place? getting out with something is better then nothing surely?

The questions on the horizon though are what are Range going to do to turn this around? Can they actually do anything? too little too late? Also, with the AGM approaching are they going to be turfed out again or effectively signal the beginning of the end? Directionless and without any real hope on the horizon imho.
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Momo
 
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Location: Relax nothing yet...

Re: Buying more?

Post Thu Oct 18, 2018 2:53 am

Maybe my last post after so long. I hav moved on. Don't love the share. If you are for investment in oil, then look to CERP which many from here already there. Have strong support of fund managers and broker target price 25p. Sp now only 4p


If you are for mining, then JLP is the one next to rerate. Have massive zinc.

Good luck
londonz
 
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