My understanding is that range get the money (some of it) once sibo sign the share subscription agreement. This is due by the 31st may (Sunday) so is it not conceivable that once this is signed and the money is confirmed we will receive an rns to that effect hopefully followed by another one to resume trading.
I may have a far too simplistic view but we are suspended by the exchange because of the risk we may not be solvent cash wise with debts due. The last lot of funding was at the same stage (awaiting reg approvals) but we were never going to come out of suspension until the cash was in the account. Same deal here.
Ill be giving until Monday before I really think there is no hope. So far in the last couple of weeks since the prev funding fell through we have been getting everything we have needed/wanted from the company. All in my opinion pls does tear me apart for sharing a view - been a long term holder so feel entitled.
...across south east Asia are being mothballed. plunge in the price of oil can be seen at the docks in Singapore, where unused oil rigs are being prepared for storage.
Of the more than 180 oil rigs in Southeast Asia, less than half are in operation.
But as Ali Moore reports from Singapore reports, rigs ordered before the slump in oil prices are still being built while the oil price collapse continues to kill off projects that are no longer economically viable. http://www.bbc.co.uk/news/business-31596810
In his defence I don't believe he's lying. I think he's just misread the RNS. They did say they're considering investing on the same terms. It just didn't say for the same amount which is where he (and Malcy) are confused I assume.
Being a member of a larger organisation makes it cheaper for all if any legal action may be necessary, is one reason, but obviously a last recourse.
Probably the best way to even try to second guess this Company is to try to reason out where the future money lies.
Core was a Landau plan, evidently,which was attempting to be derailed by RSR with the Lind loan,which in turn was kicked out by the faceless (minor shareholders) Abrahams.Abrahams fronted by Mr Chen,who has very kindly taken upon himself to run the Company on our behalf and selling off our supposedly extraneous assets, ie Texas to his self declared mate Mr Landau whose values said asset is at either end of the spectrum, considering Mr Chen has said that Mr Landau is only a friend and they do not do business together is really rather strange, as reality begs to differ.
The sale of the drilling to Landocean is another matter to be considered. As Landocean are primarily a services Company I can understand why they would by the rig company as it would help them accomplish their tasks with Range and if successful would raise their profile in the wider Oil & Gas community. The concerns or indeed positives of most shareholders with this situation is that the Core & Subo loans are both Chinese backed, and is Subo loan as the Core loan was, is in some way connected to LandOcean.
The question which I would like to know is are the Chinese in to make money via SP appreciation and service loans, as this really is the only route Abrahams (Aussies) will make any money legally, the other way is a back door sale to the Chinese after all efforts to raise capital fails, and that cannot happen can it? GL
I don't think they are. They're just offering to show a gesture of good faith and buy in on the same terms (not the same amount). This is still a good thing but not the same as what you and Malcy think imo.
This new deal might be for a lesser amount than Core but I believe the BOD are considering matching it with their own money which not only shows confidence but could be a great deal for Range. We just have to let them get on with it.
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