Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Just had my finial averaging down buy 650,527 shares showing as a sell with the right price I paid. looks like a strange amount to buy but it takes me to 10 million exactly. My first trade was in March 2011 cost 20.53p per share. my ave is now 1.5p. Its been a long hard journey. Expect to break evev next year then I am out. Then I will tell the wife whats happened.
Just thought I'd try and be the first post lol...Good luck to all the hard suffering holders here.
Trinidad operations demonstrated positive operating cashflow from activities during the quarter of US$0.8 million (equivalent to US$12 per barrel of production); Third consecutive quarter of significant growth in production achieved in Trinidad operations Strong cash and liquid assets position of US$9.5 million; The Company will continue its work programme in Trinidad with production target of 800 bopd during the current quarter and 1,000 bopd prior to the end of 2018 (calendar year); Lets hope the later is a conservative estimate so targets are not missed. KRO
Rex, once again you seem very downbeat on Range. If you are expecting to make your money back quickly here I think you are expecting too much. Whilst I agree from a perspective of the fact they could have avoided the drop in production but to be fair we have seen some quite sizeable and SUSTAINED increases in production quarter on quarter. We were before the problems over storage producing nearly 50% more than we werein the not to distant past. I believe that this shows the success potentially took Range almost by surprise. The most recent drill added a large amount of BOPD almost over night and if this was more than expected then that could be the answer. But for a change it is a "nice" problem to have that they are rectifying. Again I have not looked into the numbers sufficiently but cash burn was around $1.5m which at current production gives us 18m worth of life. If they can overcome the issues we have faced we could well be profitable by year end and make the refinancing a lot easier. At least the drop in production is not due to largely to depletion as a lot of negiative posters were saying. It was a mistake by Range yes but at least it is simply a case of turning the taps back on. And as another poster has said, we could possibly be already close to 800 bopd. I would have liked a current production level but maybe its a hold that back for some good news and a better headline figure. I doubt it but you can but hope. KRO
The facts are that all the excuses given highlight the failings that have occurred which all could have been avoided if the operations had been properly managed. As I said earlier that is why the new Chief Operating Officer has been appointed. I am just hoping they have hired somebody who knows what they are doing and doesn't go to sleep on the job. Time will tell.
Best thing is to start a clean slate with investing........try to forget about your average........then ask yourself can I afford to buy more at lose price, is there another stock worth buying , will I be happy getting some of my money back if rrl gets to 1p. ....I tend to be if I make profit great if I make a loss fair enough as long as I have learnt from my mistakes and can survive in the shark invested waters ..gl
Great start! RRL seems to finally be sending the right message. Let’s hope it continues, Saying that, it will be long way before i see my 5.30 break-even... now how many % is that? Will have to multi-bag several times, before a see all my money back...never mind a profit!
I agree they could turn the corner and the share price could be well up from here by Xmas.. .....a rising oil price and good sentiment could take the price up to even overvalued territory at some point. ....... shareholders deserve something from this after years of pain but a balanced view needs to be taken on the way up as this gives a.clear head when to sell.
Completely agree bountyman ! No many people have been as critical as me about RRL but I must say slowly but surely they are turning a corner... if they can stick to their word and achieve 800 BOPD or exceed it by June .... I honestly believe we can easily double before year end ... specially if they can hit their targets in Indo and also find some clients for the RRDSL RIGS ... add to that the increasing oil prIce and talk of 100/ bbl next year by the daily telegraph and boom
A quarterly report from Range but so much has been released lately that there is little new news in it. However the production in the period was 731 b/d up another 16% on the previous quarter due to increased water storage facilities at Beach Marcelle and 57 workovers. The Trinidad operations had positive operating cash flow during the quarter of $0.8m equivalent to $12 per barrel of production. In addition the oilfield services business was awarded a new contract by Shell. Target production in Trinidad is 800 b/d in this quarter and 1,000 b/d by the end of the year. In Indonesia, with two offices established and a management team in place, preparations to commence field operations are underway and first production is targeted in mid 2018. With cash of $9.5m and a fully funded cured work programme the company’s financial position is strong and revenues should also be increased by new clients at the oilfield services side. Range is now looking more strongly positioned than for a long time.
Live price .30..turn around continues onwards and upwards
Couple of chunky buys gone through at around 0.3p. Surprised more volume hasnt happened today to be honest. Happy with the quarterlies... need to compare and consider previous ones but on the whole quite positive. KRO
Once again an open and honest report that does not try to hide any issues or failings on the part of management. It is true that the storage should have been sorted but you could also say that the rapid increase in production caught us out, something which we are now resolving. The water pump is a different issue as the issue is the total volume of water being received from Petrotrin fluctuates throughout the day and at times exceeds the agreed amount and capabilities of the existing pump. RRDSL is looking to capitalise on the recovering oil price and the increased work that will bring.
Lots of ****gers on this bb over the last few months. However I feel that over time Range will come right and could well be the star in your portfolio !
Now we know why a new Chief Operating officer and Trinidad General manager has been appointed. Hopefully he will stop the litany of cock ups.
If you think that this a good report then just think what it could have been if the management had planned properly. Just another cock up by failing to have the necessary storage facilities and transport. Disappointing to see that a lack of common sense and initiative led to the reduction in oil production. With all their supposed experience Range management have once again dropped the ball. For them to have acquired a water pump that was inadequate for the amount of water that needs to be pumped is very amateurish to say the least. Now all they can say is they are looking for a bigger pump. Shareholders are once again being let down and whilst it may have been Land Ocean who put in the pump I am certain from earlier announcements that Range management knew full well they would have to pump more water and should have planned for this by fitting a bigger capacity water pump. As the saying goes, fail to plan, plan to fail. Hard to trust people who continue to make mistakes.
Here’s a link to truly excellent Q3 results At the current oil price and production level, we are profitable on an operating basis ! https://www.asx.com.au/asxpdf/20180424/pdf/43tfhnz14mx9vk.pdf For the first time since 2013 , I actually feel positive about RRL and truly think they will exceed their projected targets this year ! I wouldn’t be surprised if we hit 0.3 p shortly Good luck guys
The reason for the drop to731 bopd Storage problems .
Great pred your thinking this could go a thousand percent changed your tune and about time I won�t be to greedy I�m tops slicing at 2p atb
Xel is worthless to shareholders and that's what counts in the end. .....10% back for shareholders in top is rubbish but better than nothing. .... although the irony on both stocks fortunes could of been made by getting your timing right. ....gkp went to �4.60p and then people got greedy. .... anything that goes up thousands of percent run for the hills and never come back. ......
toon, xel is a woeful story
After an exuberant ride crude ended the week in further positive territory but of a modest nature. WTI was up 99c and Brent $1.48 keeping the momentum going and making new upward breakouts. As is often the case the Donald had a view, in this case he tweeted last week that there were �record amounts of oil all over the place� and that Opec is keeping prices �artificially high�. Interestingly his comments on stocks were made just after the EIA, his own Energy Department, had released inventories showing a further draw and that the OECD levels were also back down to their 5 year average, a key Opec milestone. After the Tweet Opec announced that there was not such a thing as an �artificial price�.
XEL was not and is not worthless. It has several hundred million barrels of oil in the North Sea at a site called Bentley. The trouble is it is now owned by its former bondholders and not by its former shareholders. The company could not repay the debt owed to its bondholders and the bondholders would not extend the debt beyond its maturity date. The price of oil was very low at the time and no one was interested in providing alternative finance so the company was forced to restructure and the bondholders converted their debt into equity - and the shareholders were wiped out. XEL will make a lot of money for its owners. A similar thing happened at GKP except that the shareholders were left with 10% of the company as opposed to nothing.
Yes it had no value but 3 grand turned into 500grand in little more than a year. ..... timing was the key, letting the profits run so money makes money and not getting too greedy . ... My opinion some of the time share prices are totally disconnected from company fundamentals and so it's just what month/year you decide to invest or can afford to invest which dictates whether your going to be richer or poorer. Just for future reference
Obviously xel was a high risk share and the movement in share price should have been investigated by the authorities . Complete gamble and the fact it ended up back at 2p indicates it never had any true value. Was Landau involved?