Like youngbuck, I am also not too emotionally attached to Range and don't need or want to sell any (fact). Want to make some serious money, if possible (fact). I do think they are probably the most attractive option on AIM at moment (opinion).
Sold some at 2.55p in 2.7 spike cos I needed some cash (fact). So was lucky (fact in hindsight). But felt miserable 1. that I had to sell some 2. that I had missed out on some money (not much, but Malcy was saying 5p and I think it could easily have gone a lot lot higher like in the Landau days).
What I would say is that we have a PI who had 2% of Range yesterday and it would not surprise me if he or she upped their stake after hours by a further £40k plus last night. He or she will not sell. Chinese ii's unlikely to sell, most of RIG's 19% unlikely to be sold.
When it is quiet like this, strange things happen and no one (even carve) can predict which way and how fast price will go. Too many variables.
Im not challenging you mate, just asking you for your thoughts and reasoning, dont be so defensive.
In regards to the shares in issue, prior to this deal how many did it have in issue? That's not really a valid point as there has been numerous other factos which have increased this prior to this deal. Wasnt the LO deal originally announced in June? So how relating back to FEB for shares in issue has no validitiy.
Agreed the deal is done in principle, however, the bonds are not realised until converted, so exactly as you say the earliest being 10th December. Which answers my initial question, as at today "have we been 50% diluted" the answer to this is quite clearly no.
Agreed with the possability of "funding when the SP was racing over 2p", but as we all know he was banking on Asset sales being finalised...which we can now see was a mistake.
Im not in in for Georgia money, but its clear this will be a huge boost as it could potentially add $30m cash which is 48% of our current mcap. So one could assume, if this does come in, could boost the SP to 0.01-0.012. I am here for T&T, absolutely no doubt about it.
Emotionally attached, i wouldnt say so, im here to make money & i wont be leaving until i do so.
This article goes back to April 2013 but worth a read to remind ourselves of the true potential of Trinidad to Range and just why we are attracting so much interest from the Chinese. pay particular attention to the last paragraph:
"Successful investment in real estate is said to hinge primarily on location; whilst for oil and gas operators success hinges on management quality. With Trinidad at its core, investment in Range Resources offers both advantages."
Mate, you don't have to challenge me on everything just to prove I am wrong. If I am wrong, I will admit it. Feb 14, this had 3.5b shares. Come Core deal, this will have at least 6.3b. I admit I was wrong because it is closer to 100%. lol
So the pie needs to be double the size!
That shows you how blinkered PIs can be totally wiping out the reality from even just 9 months ago. This is classic psychology. Keep dangling a carrot and lead the donkey along. That is why RSR delayed bad news and only spun you good ones. You have to learn to see the woods.
You are a bond trader but you still go on about options on $30m. When you raise a bond, it is not an option. You either do the deal or don't do it. The announcement is for $50m. Please read it again. Come 10 Dec, the deal will complete unless RRL fails DD. Binding MOU has been signed.
You are a bond trader and I would have thought they taught you how not to be emotional when it comes to investments. I sense you are attaching too much emotion into this and it has clouded your judgement. You can't argue plain facts in the RNS.
Of course, if Georgia sells for $30m in the near future, they can repay the bond early (with a penalty) but it would be subject to the holders not converting at 1p. It is their prerogative now.
As for alternative funding, let me be clear that I am not against this funding. I am just stating the effect it has on the company and SP so that the more level headed investors can form their own strategies. I think it is a good funding provided it is of a good rate (15% and below).
I don't think I could have done better because RRL was up shiite creek. One thing I would have done differently was to raise much more finance on the back of Abrahams when the SP was racing over 2p. This is a very tough climate to raise finance. They did well even though it is punitive for LTH. It will end up 100+% dilution before you see any value increase.
Anyway, that is historical now. Had people paid more attention to me and discuss, they would have come to their senses and adjusted their strategies accordingly.
I think all the bad news is out and the company can get on with building a future. Just hope people don't blindly quote 5p, 10p, or even 50p! Yes, that's you Fat Malcy.
So I see you are still going 'all in' on Georgia.....why don't you change your strategy to bet on RMP in that case? Bigger upsides there or are you too emotionally attached to this?
I was one of 32,000 who watched the 0-0 draw recently against Bosnia-Herzegovina. Didn't you say you went also, Cardiffboy? It was an electric atmosphere all the way through - probably the best crowd I have ever been a part of. We even cheered and clapped the opponents and had respect for their national anthem. The the noise was constant from 15 mins before till 15 mins after. And, my goodness, did Wales play well considering 12 of the key players were injured.
Range seem to be 0-0 going into AGM. Nice to get a goal or two before we inevitably suck on lemons at Prospero House.
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