Dear fellow investors, I've just read some remarks made about LGO and RRL, be honest just follow your gut feelings, what is it telling you? I'd be so happy to see this share jump up, when this long suspension is finally lifted. I can't see it happening IMHO, because look what's going on. Share swapping, lack of cash, assets being given away to other companies, to Directors that do not have a Snow White reputation! No explanation given, to what makes up mostly independent investors. Can't remember the last time any of these directors actually invested any of their own money in RRL, Do you? My advice stands, don't chuck any more of your savings this way soon, unless the BOPD goes up and we get regular updates that don't make the shares tank walk away. We have no choice if your in, you can hold or cut your loses, see what the Chinese can to and see if their more honest than the last lot! Sometimes you just have to know when to walk away! Btw I need an ave of 3.5 p to break even, although I am quite rich anyway, it still pains me to see us taken in by all the hype given out over the LAST 2 years. Do you really want to be sucked in anymore? Now Texas was a big give away and questions need to be asked by RIG. Abraham how also hopeless, they forget we are the owners, we deserve to know and approve big decisions. It won't happen here. walk away nothing to be seen here, IMHO ...
So let me get this right, this has been sold to a company run by Landau on the cheap ? Oh but of course, there's nothing dodgy about that at all, all done with the interest of the shareholders and nothing to do with individuals lining their own pockets. I wish I could swear on these websites....I really do.
So basically they are taking an asset off the books, by paying off the expenses that are owed and the promise of 500,000 plus some shares.
Honestly not sure if it is a good deal or not, with all deals there are risks. I suppose the question is how long would it have taken RRL to develop this asset to be a net positive asset rather than a net negative asset.
Leaking $0.9 million a year, with no income from that asset, really is no asset to boast.
With a shareholding in the company if they exploit it then there maybe some upside, but that would be dependent on the payment of dividends. Which can be reduced via other financial means.
I'm 50/50 on the deal. It's not great but it does take a loss making business away. However RRL losses last year this would be about a percentage point on last years losses, so it's not going to make a huge impact.
That this company will ever be able to release some good news, and I mean really good news, not false hope, promises etc.
I have been invested here for a long time, and I cannot remember the last piece of genuine good news. How badly has this company been managed for us to end up in this position.
It really is infuriating.
It is now the time for Range to reveal fully what happened to the $30M sale - as in was it a complete lie, or did it exist and if so who offered $30M and how can an asset that was worth so much go for peanuts?
Of course they will not, and I do not see the Oil Price - which has only dropped in the last 6 months, as being a reason. They have been trying to sell this for 2 years.
Whatever changes in management that have occurred it is an utter disgrace to tell shareholders an asset is worth $100M, then has have an offer for $30 before being sold for $1M, and no word or mention in between these periods (or at point of sale) by PL, RSR or anyone else to let Shareholders know that the value had dropped so much in value.
The amount on the End of Year accounts had no mention that Range considered this as the true value.
Any genuine investor with little common sense would concede we have been ripped off. What was the need to sell it to Landau for $0.5M and some worthless shares in another company being run by a fraudster. The overall deal is valued at $1.4 USD and not $1.7 as suggested by you so once again you are misleading investors. We could have sold it to anybody for that money. The strategy is to focus on T&T so whats the point in getting involved with anything which has link with Landau. It seems until recently we were still part of Landau's nexus..just like Landau Rory was a cheater, and deserved to be booted out in the manner. He was man on mission of asset stripping.
You are such a drama queen bounty with your little tick up trolls. Can I remind some of you that not so long ago you were complaining that Texas was now worthless. We have further reduced our outstanding expenditure, secured $1.7 million dollars and once again have a 28% direct and indirect stake in Guatamala. We also retain a stake in Texas through Citation so we could yet see further returns from the North Chapman ranch.
This further frees us up to focus on Trinidad. Get over yourselves with the PL obsession.
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