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Range Resources Ltd Share Chat (RRL)



Share Price: 2.055Bid: 2.01Ask: 2.10Change: -0.045 (-2.14%)Faller - Range Res.
Spread: 0.09Spread as %: 4.48%Open: 2.05High: 2.25Low: 1.84Yesterday’s Close: 2.10



Share Discussion for Range Res. (RRL)


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RichTheNewbie
Posts: 9,667
Observation
Opinion:No Opinion
Price:2.10
View Thread (6)
RE: bountyman
7 Jul '14
They might have got some, but nowhere near enough, so make it pointless. The vast majority will be in PI hands (and the only sizeable other investor being now Abrahams with 7%, soon to be 15%. Then Capital Group with 100m - presuming they still hold - can't be fecked to check :p).
Then again I'm skeptical of the amounts being talked for Georgia - but hoping to be pleasantly surprised ;)
 
LordSnooty
Posts: 4,125
Off Topic
Opinion:No Opinion
Price:2.10
Slowdown
7 Jul '14
quite a slowdown in trading today - about 14m shares traded in the first hour and less than that in the almost five hours since. Perhaps we are in a holding pattern but it won't last long IMO.
bountyman
Posts: 1,100
Off Topic
Opinion:No Opinion
Price:2.10
View Thread (6)
RE: bountyman
7 Jul '14
Rich, I agree with your logic absolutely, but given the constant off loading of Plat Partners shares, would it have really been that difficult to gain a sizeable stake in the company etc.

If they have pockets that can stretch to $50m, I'm sure they could do what PP were doing (allegedly) to batter the SP down to reach their target price and buy in on the cheap.

Either way it is somewhat moot. I hope we get the figures rumoured for Georgia but I honestly don't expect it.

My money to be made here is on T&T production and Punty hype.

KRO

Bounty
RichTheNewbie
Posts: 9,667
Observation
Opinion:No Opinion
Price:2.10
View Thread (6)
RE: bountyman
7 Jul '14
bounty - I understand your logic. I just don't think it was realistically possible. Someone comes in and offers 1p a share for the company the vast majority, bar an insignificant number of short term traders holding a small amount, would have been against it. So they couldn't just have bought the company.
The MCAP of many companies is often worlds away from a "sensible" value at any given point and doesn't represent a realistic takeover price or anything near it.
Notice how once the friggin debt shares were paid off the MCAP tripled as there was suddenly no huge pressure on the price. The company didn't become 3x as valuable overnight it just reverted back towards a more sensible price.
bountyman
Posts: 1,100
Off Topic
Opinion:No Opinion
Price:2.10
View Thread (6)
RE: bountyman
7 Jul '14
Sorry, I am not an accountant but my logic is thus...

Georgia is mooted at $50m, RRL's valuation at its worst was c. £27m. (c. $46m). So for what people are rumored to have been offering for Georgia, they could have purchased the whole company ( appriciate a premium would have to be applied etc etc) for not much more. But they would have had the other assets that they could have sold off (even at fire sale rates) for a profit and still had the asset they wanted.

I hope that makes sense. I appriciate the whiff of a TO would have hiked the SP but even so that my query around the Georgia valuation.

KRO

Bounty
RichTheNewbie
Posts: 9,667
Observation
Opinion:No Opinion
Price:2.10
View Thread (2)
RE: L2
7 Jul '14
Bear in mind Celtic that a good chunk of the "sells" today will be buys based on the price (as the ask was significantly higher than the price you could buy at meaning they got flagged under the mid-price wrongly as a sell).
BoyBand
Posts: 275
Off Topic
Opinion:Strong Buy
Price:2.10
LP
7 Jul '14
Live Price please anybody
Celticheart
Posts: 5,134
Observation
Opinion:Strong Buy
Price:2.10
View Thread (2)
L2
7 Jul '14
Bid (1) 200,000 2.1
Ask (5) 1,155,938 2.2

Interesting that the AT buys are pushing the price up today
russty
Posts: 511
Off Topic
Opinion:No Opinion
Price:2.10
View Thread (2)
RE: Something brewing?
7 Jul '14
PG tips??
langyboy
Posts: 226
Off Topic
Opinion:Strong Buy
Price:2.10
View Thread (2)
Something brewing?
7 Jul '14
NM



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