I think the current situation with Range is that there has been plenty of time for investors to get set, due to long time lines while Range been getting everything in place to launch the process.
Anyone who believes in the Range story seems to be 'up to pussies bow' in the stock and the rest of the market is waiting for positive announcements, happy to miss the first 30-40 % price rise as this will look like small potatoes when the stock heads over $1 when the first well comes in later this year.
Several of the recent sellers that I know of have been hedging down their holdings as the 'time value of money' comes into play. They will be back on the first upward flush to top up.
I think it is fair warning that Sir Sam is presenting on the 7th, so we can expect a pretty comprehensive announcement between now and then. I doubt Sir Sam will put his own hard won credibility in jeopardy, by flying all the way out Perth to address a room full of African resource companies and Journo's with a less than impressive representation on the future direction of Range. He will also be putting forward a lot of 'country risk' information as well, which will have many an audience member getting straight on the phone to their broker :)
Not long to wait now, but remember Range started the Puntland project from scratch less than a year ago, so progress has actually been pretty fast. But like all Aussie “investors” we want in and out with 200% profit in a week. I happy to get 2000% in 24 months.
RRS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
