If you go back through what the company has said all along (rather then the endless rumour and innuendo) they are going to raise $25m so that is a lot of shares. The need to pay Sir Sam, Povey, Landau, the hyphen and anyone else at the trough.
There will be dilution by the Findlays placement recently announced and from memory there is still an loan hanging around that will no doubt be converted.
All in all the plan is working to perfection - take a credible exchane (ASX) and a dog stock (RRS) that can be heavily diluted so the players end up with 60-80% and the punters are just along for the ride.
Now you just need to decide if you want to be onw of the punters along for the ride! We are adding zero value and expect some monster return - sh!t - most of us wouldn't dream of getting on a plane and then landing on a goat track with battlewagons circling - all we do is stump up a little risk capital and jump on board - we didn't even make this happen - Findlays or whoever is behind them made it happen with the 125m option excercise in Jan and the 4m CN recently. Now the hyphen is setting up the $25m from European/middle eastern punters - again they are making it happen - then Povey, Sir Sam, Landau etc are making it happen.
We deserve to get about 20% of the pie and that is all we will end up with - the pie could be $1b or $5b or $10b or $50b over the next 5 years but the point is - this is the only way to get a chance at 19b barrels.
RRS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
