T40 remains solid. Selling has been inconsequential, with minimal volume going through. Value of trades average $10-$15k per day, lol! To suggest Consort will start dumping at this level is humorous to say the least. Even if they did, there is no significant buying to soak up their shares.
The days when it was easy to pump and dump on rubbish announcements is over, IMO. Remember, there is far more money to be made with success in Puntland than skimming a few hundred thousand dollars from the books and retail holders. I suspect the players behind the scenes have lost a significant part of their portfolio during this down turn, Range offers an opportunity to recoup those losses.
A new credible management with Oil and Gas experience, a strategic placement with a reputable Middle Easten player and an agreement from a JV partner to fund or part fund the offshore seismic, would be a massive vote of confidence for Range, IMO!
RRS Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
