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Coming up to 400M traded today so far (394M). Could see half of the placing volume (450M, 909) traded in one day at this rate ...
I expect to see this trading at 0.15p+ soon enough now that short term funding is now sorted to accelerate the Trinidad up to 1000bopd
Movement at last - momentum building
they would offer 5 mate, not 20...
Wow was told last week to invest here an nccl ,sorry peeps bad too see I dodged a bullet.
I am tempted to average down , as agree its massively oversold today with silly 0.11p placing.
However, the very nature of this placing and scandal surrounding it makes me avoid it as I feel that the BOD have their own motives now and clearly not respecting even their largest shareholders (SIBO and Abrahams) interest...which this placing is a slap in the face!
I'm going to hold out for qtrly report next week and darn better be flippin amazing so we get back to 0.20p at the least.
After that , well....wheres them 2 drills they said they would do before end of the year ? All these promises and as yet , we are not seeing nearly enough significant progress.
oh , let me not start on the 80mil of debt (20mil granted is in convertible loans at 0.088p price...so massive premium to current)...but 60mil is held for April 2020 payments......further explains the overhang on the so here...
wth all this in mind...we are very real risk of been taken private folks....could that be the reason for this exercise perhaps ? market cap less than £10mi....if they offered £20mil , I would defo take that anydays.
guess more to follow
0.13 without limit
0.13p just paid (now full Ask)
Not fortunes but enough if sentiment changes.Bid price increasing all time it'll be interesting to see where it's at later today/tomorrow.
GLA
Sorry - 100% buys ;)
Almost 109% buys - crazy but true
Mac jock feel sorry for you as I was in the same boat with RRL but this is a clear gift - a load of aitomaticnsells has pushed this down and caused chaos with MMs - there has to be a big move back up in the next week or two but clearly if you bought at many times more than the current price it’s not much to feel better however with the right sentiment from all of us and positivity we could see his back to the price of a few months ago and for newbies a 2-3 bagger.
Firstly, I appreciate people will have been here much longer, however for me and my 8 years this has had the a*rse ripped out of it for years and a lot of those in charge were part of that. I've had two companies on AIM go to the wall and even though I lost cash, it was great not to look at them anymore and get continually mugged off. I won't wish that for RRL as never want to see anyone lose cash but having this sit on my portfolio angers me. Refuse to average down and refuse to sell for the few pounds left. Sometimes your just stuck with a terrible decision until it plays out one way or the other.
Yep, good tick up. Surprised that this hasn’t gone up quicker though. Fingers crossed for getting to 400m by close today. Spread the word around LSE - there is clearly a great opportunity here and most people will not be aware of it.
Continuous buys and the mms are happy to hold price with all the upward pressure applied? Overhang or just games?
Improving all the time
4.5 hours in and 300m traded - nearly 1/3rd purchased on the market now.
so are the placing shares simply being sold on at .12............
It would certainly seem like something else is going on in the background. Against a backdrop of improving production and operations, this drop is completely unwarranted. Is there something else going on, or has the market just got it dead wrong on this share?
With an active work programme of waterflooding, development drilling and optimisation, the company anticipates that the Beach Marcelle field will be the largest contributor towards the company's future production growth
Following the share issue, Range will have 8,504,921,692 shares in issue
Range Resources Limited (LON:RRL, ASX:RRS) is to raise £1mln through a share issue to accelerate development of its assets in Trinidad.
The company will issue 909mln shares at 0.11p a pop.
READ: Range Resources exceeds oil production targets thanks to recent well optimisation work
Range intends to use the net proceeds from the subscription to make further investment in sales infrastructure upgrades at the Beach Marcelle field, including the purchase of a new settling tank, transfer station and a lease automatic custody transfer (LACT) unit.
The upshot of this investment should be an increase in sales volumes from the Beach Marcelle field.
"We are pleased to be able to commit this additional funding into infrastructure upgrades at our Trinidad assets. This will enable us to continue production growth and allow us to further develop our significant assets with a view of unlocking the full potential of our reserves base in the years ahead,” said Yan Liu, the chief executive officer of Range.
“With an active ongoing work programme, we are focused on delivering on our key objectives geared towards production growth to 1,000 bopd [barrels of oil per day] target and increasing cash flows,” he added.
Shares in Range closed at 0.11p last night, down 0.06p on the day.
That's a whole lot of shares being mopped up at .12p. Amazing neither the Bid nor Ask have moved up yet. Can only hold back so long. The new shares haven't even been admitted yet.
It's being manipulated! Blah blah blah. Can't buy more than about £300-worth at one go - even if you wanted to.
The rest at 0.2 it's obvious that CFEP took the placing, once cleared i suspect the other MMs will move the price up
Now at 0.116p - any slight Movement is a good sign.
Question is how many shares are the MMs holding before this pops back up? I’m not sure with the risk that placing Co would accept such a all profit, nor that the placing shares would even be available yet but may be someone else can confirm who has more Knowledge of placings. What is certain is that a lot of PIs can get in at a low price and help those already in this to recover - someone said 0.24 was a realistic short term price. Given this was at 0.18 with £1m less cash and concerns about a placing, it would seem to me that 0.24 is a good target short term.
Looks like the fall in sp has triggered a motherload of Stop Loss orders. Should clear quickly once the technicals have flowed through.