Ypp. Strange you should mention those two blue chips. I bought into Range at about a penny and had quite a large holding in one of them which I then sold for 300p at start of Range pump in 2014 - when CEO resigned early with no obvious successor, tbh. Thta had not been the way that company had ever operated. By end of summer 2014, blue chip was down to below 175p and Range had gone from about .8p to 2.7p and slicing profits from Range nicely funded me through 2014.
I see no glittering future in one of your blue chips. Yes, you get good divis - but those will dry up slowly. And present management have got absolutely no idea compared to previous ones who worked up through the company. It takes many years in management before anyone really understands the underlying ethos.
Only have a few shares in Range now, but paid less than a penny average for them and well worth holding (no choice anyway) and unlikely to panic sell when they re-list. May be foolish, but believe Range will be a good investment over the next couple of years and beyond.
This is no different to how it was 5 years ago. Q&A sessions were agreed years ago and holders happy everytime they put out the answers to shareholders questions. Friday is no different, holders are more content because they've heard what they wanted to hear........again. However, each time it happens the company is in a more precarious state. I was a holder years ago having bought in at 7.35 and watched TW advise a sell at 8.9p.....the s&p then tripled in the next 5 weeks whilst I had 200k on a T 25 plus a core holding and I thought what a mug he is. Fortunately( or as I thought unfortunately at the time) I had to close the 200k and take the profit to avoid a big CGT Bill, however I didn't sell the majority until after shab 1 debacle and got out at 7p. I have bought since Shab 1 but sold last April and will never buy again, my point is TW was spot on. Current holders don't like to hear what he says because they are emotionally involved, one holder in particular, but if they had of listened to TW they'd be a lot wealthier today. Personally I much prefer Lloyds and tesco etc that are good businesses that make money and from time to time pay dividends. I'll never triple my money in 5 weeks but there again I won't lose it all either!
There has been an almost complete breakdown in real communication between company and shareholders for a long period now. Under Landau (before my time fortunately), it is fairly clear to me that he did communicate a lot but the quality of that communication was very suspect at times and a lot of investor money was lost.
My belief is that Lyons and Rory wanted to communicate, but were of that English school that does not want to convey bad news. Also, when they opened the books properly and looked at the state of the rigs and permits, they must have been pretty horrified.
Our present masters seem to have both skills and money at their disposal. I doubt foremost in their minds is shareholder value (which has been absent from BOD thinking for several years now) but they seem to be quite happy at this stage to work with shareholders and even invite one onto the board at some point. Communication has been good and generally in line with majority shareholder thinking since the unnamed lady waved her letter round in Perth in November last. I look forward to plenty more Q & A and reports from CEO who is in Trinidad - and perhaps some photos of him and what he saw there. And is Walter still doing that talk in Trinidad at end of Jan on behalf of Range? Or is he doing a "David Cameron in TV debates" and chickening out again?
Photomic, boobs and Ducksoup in a row - is it 2010/2011 again? Think the new lot are probably aware they have less time than the previous regimes to prove themselves and under more scrutiny with a goodly slice of xenophobia thrown in, us unwashed being more trigger-happy than ever before. At least with it suspended we don't have the likes of wonga outfits visibly taking the pee on a daily basis.
I feel for you there, mine was rubbish from the first year and depleted as the years went on with some hope that with 'encouraging words' from Landau, all would be good. I never believed the guy from the first time I clapped eyes on him but stayed in just in case.
These new chaps seem ok, but like any AIM share, I will never ever believe what I read, irrespective of how good the CEO or new owner appears to be. Only, and ONLY when the share shows good plus numbers up top, is when we know that particular CEO has been worth his/her salt. Unfortunately, and whilst the new guy seems like a decent fellow, I have serious doubts that RRL will ever deliver before they vanish altogether. However, let's see what 2015 brings and whether or not they are trustworthy. Having been on the AIM since 2003, trust in shares has gone out of the Window, nonetheless, here I still am on the basis that at some point, one of my holdings will achieve a decent reward. These days, I even make my own shadow walk in front of me having been taken for a ride by the 'charms and Bo**ocks' touted by all these nice smiley 'plausable' CEO's. I have yet to see one that is not out to clean us out for their own ends! It's what they do but they need to be here to get the investment and spend the cash as they so wish, and invariably, we question how the funds are spent and it's not always the way we would like. Sometimes, you can be lucky and hit on a good share..............sometimes. Remember, this was 25p once until we were plagued by Landau and his dilution ad-infinitum.
The Q&A on behalf of RIG was very good and the answers were clear and concise. They do however, keep RIG sweet for the duration and they have done extremely well compiling logical questions without having a dig at the board. Will it all be worth it though?
It's just my humble opinion but I feel there is a lot of hot air and empty promises at the moment. Very little has come to fruition in the past and I feel my investment here is a write-off. They seem to be conducting a fire sale. All offers gratefully accepted :~} time will tell..
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