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Celtic, I am not making a valuation just stating the facts. I agree that Range have more upside than Trinity if they can get all of their businesses running well and profitably. In fact RRDSL will hopefully benefit from any drilling or workover business they can get from Trinity. My concerns will always be whether RRL's plans can come to fruition, whether they can get into profit, and whether they can finance and repay the debt. And finally whether they can get people to invest in Range and get the share price up. ATB
Rainbow Range management know more than we do and have set their plans based on how they believe they will get the highest production and highest income. Like you I would like to know their plans for repaying or refinancing the debt but that will not happen. However the first step is to get into profit and the most recent figures show they are heading that way. Investing is always a risk and definitely more of a risk than lending so you are totally correct in advising caution which is what I have been doing most of the time recently. I hope Cantor Fitzgerald is right. One day Rainbow you will be proven right or wrong. I hope you are wrong.
0.7p would give RRL a Market Cap of �53m whereas Trinity's market cap at 3 times RRL's production is �48.7m. RRL current share price is 0.225p so a target of 0.45p would be acceptable in my view but it is significant that Cantor Fitzgerald haven't even given a timeline for their target. They do however mention that all oil & gas shares would be higher if they had responded to the increase in oil prices. It is a pity that nobody seems to know when this added value will be seen in the price of O&G shares. So a target of 0.45p without thus added value seems reasonable, 0.7p with it. As with all these things the question is when and RRL's case they will need to keep the improvements coming to justify 0.7p by the end of 2018. THIS IS NOT A RAMP, DO YOUR OWN RESEARCH.
kjk You can't short this on IG Index the spread is too great.
All the online reports I have found are saying that Cantor Fitzgerald has REDUCED their price target from 1.7p to 0.7p. So no ramping allowed based on this note
Up or down at these prices in a dysfunctional share that lacks liquidity is neither here nor there. It is the medium term that matters.
2 steps forward and now 2 steps back, One day Rodders but not today and not 2018. However hopefully 2018 will see the building of the foundations that RRL needs to be successful for its shareholders
Half year report The loss for the financial half-year ended 31 December 2017 after providing for income tax amounted to US$9,553,620 (half-year ended 31 December 2016: US$39,120,872). At 31 December 2017, the Group had net assets of US$12,182,414 (30 June 2017: US$20,022,644), cash of US$8,131,188 (30 June 2017: US$17,254,360), and amortised borrowings of US$46,116,422 (30 June 2017: US$16,854,571). So whilst they have reduced losses everything else is going in the wrong direction. The amortised debt is made up of US$23.8m of payables to LO and its subsidiaries and US$17.7m in respect of the Convertible Loan.
This share needs positive results not pie in the sky announcements and hype. It is that gambling mentality based on lies and deceit that's cost a lot of investors a great deal of money. Show me the money, show me the cash flow, show me the profits, show me the dividends Only then can we expect to see share price recovery
The indications are it is loss making in the first year. Once again a poorly drafted announcement that provides insufficient information on the project and its profitability. Hopefully the promised presentation will add meat to the bones so we have some idea of when they expect the Indonesian assets to become profitable and help pay off the debt. How competent is the operating company doing the work overs?
Looking at the prices actually traded the spread is a lot lower than the quoted prices so maybe the quoted spread is just the cost of the suspension and will dissipate over time.
The MM's obviously don't trust these shares and it's impossible to spread bet too. The company and their broker, Cantor Fitzgerald have some work to do to bolster confidence
I think the answer is in your typo, Fright Personally I hope this share stays in the doldrums until it is ready to make real progress. ATB
So you got more for the smaller amount and got c. �3.7k for shares worth c.�26k when you bought them. Not quite sure why you suggest the shares are strong sell at such an awful price with low liquidity. However I can sympathise since I have lost c.�90k on these shares at the current price. Good luck with investing that �3.7k.
https://www.asx.com.au/asxpdf/20180321/pdf/43slrcqpgs99h5.pdf
If the company can't give a target date how can we? Just need to be patient and await good news. Looking at fake trading patterns and pie in the sky comments, good or bad, will make no difference but just annoy you. I am just waiting for news from Range to see if it has any effect on investor confidence. This is going to take time.
Me too Pal, royally robbed by more than one or two b'stards over the years. I just wonder how many walls 5.1m share certificates would cover. One day Rodders sums it up well. Good luck to you too Buckz
Assumptions make an ass out of you Just deal with the facts and leave out the spin
Hi Bounty, I am fine but having seen all the SP estimates over the years I realise they are pointless. My shares are in the bottom drawer until such time as the company shows a sustained build up in production, increasing cash flow and profitability and a significant share price rise. Luckily I am well enough off as to not have to worry whether these share have a value or not. I am just annoyed with myself that I didn't take my own advice and sell up years ago. A word of warning to anybody who needs major heart surgery, afterwards you can be on a major adrenaline high for weeks. During that time do not even think about investing because your judgement is impaired. It turned me into a gambler. As for the future of Range that depends on many things and not a little luck although I do think it could recover over the medium to long term. As I see it, if you compare Range to Trinity, Trinity has a bit more than 3 times Range's production and 3 times Range's share cap so at the moment the price is roughly right. How much RRDSL will be worth is anybody's guess. All the best Rex
I am not interested in share price estimates, it is a fool's errand, particularly with Range. All I do know is that the institutional investors will want it to get to 0.8p ASAP to get their investment back in balance