Hope Nev from the RUM does not mind me posting this on Hotcopper, as I think it is a very good summary of most shareholders thought on this matter both RRS/RRSO holders, Cheers.
From Nev, noiprocs on Hotcooper Hi Daryl
I'm as crook as a dog that has overdosed on snail bait here, having been restricted to bed all week with the flue. It's a monster variety. Either that or I am piss weak! I'm sticking with 'monster' flue at this stage, as I haven't had anything like it in 30 years.
Re: The proposed option 'deal' or whatever has been mooted.
I really don't have a lot of energy (or money) to buy into the argument(s). I still hold options (and shares) and have effectively written the options off in my mind. But at the same time I have always been hopeful that the company would pull a rabbit or two (or three) out of a hat leading up to expiry. It hasn't happened yet.
If there is such an offer, then I say bring it on. I'm all for it. By my reckoning, any which way will do, and the more advantageous to holders the better. I am not at all concerned for other shareholders most of whom sit very comfortably, (thank you very much), in the nominee accounts. Certainly, you don't have to protect them. They are used to doing that for themselves. And they will continue to do so at every turn.
The replacement option idea is something that I hadn't thought seriously about until it came up this week. I even queried management about it in a recent e-mail exchange after talking to you mid week about a raft of miscellaneous but pertinent matters. The response was along the same lines as yours. Due diligence, consideration to shareholders etc etc. thank you for your enquiry!
Realistically though, your selling of your position was your response to the oppie situation as you saw it back then. And your actions were necessarily irrespective of the market turmoil and extreme panic caused to other holders at that time, myself included. But you didn't get any angst from me either then or now. After all, that is the way this animal works. It's each to his/her/their own.
Others have decided to stay put with their holdings in the hope that the company would finally deliver on its promises. It hasn't happened yet, and of course they are frustrated and using all/any avenues available to them. I have no doubt that you would be cheer leading the cause in the same situation, and as I have already said, I'm all for it, for very good reasons.
My main problem in all of this Daryl is that the RUM Forum was formed to facilitate a respectful information exchange between committed holders. (Please correct me if I am wrong on this). Range was and is a very compelling story. And right now it is even more compelling than ever. Some members still have a heavy weighting in options, and you should pay them the respect for being so trusting of the story and the company as per the company's announced objectives. They are hurting badly and are now attempting to manage their position in difficult circumstances, as they feel that they have been let down badly through a perceived lack of disclosure. I believe they all want a continuing involvement with this story. Who wouldn't?
Daz, you managed your option holding by selling early. A good call in retrospect, and you have done very well in the interim. And you will continue to do well irrespective of what happens from here. Please let others find their own way out of the current predicament as they see fit, by desisting from posts that muddy the waters. The water is certainly murky enough already, but I reckon that it is finally showing signs of clearing. (then again, it might be an effect of the medication I'm on)
If Africa Oil Corp hits a gusher in Puntland, there will be plenty of riches for everyone to share, but it would be a tragedy if the current events lead to a split in the very community you have helped to create. The camaraderie and information exchange means a great deal to many on here. It's not a 'peeing' contest, and we need to be respectful of the financial situations of the many fine members who have involved themselves on this forum.
Personally, I reckon you should just chill out and let things be. In the BIG picture it won't matter one iota whichever way it goes, and at the moment everything is merely conjecture, as there is no option deal anyway (well not that I am aware of).
Now please excuse me while I cough my guts out ....again! (sorry about the language ladies/blokes)
Cheers Daz All the best mate, and I really do mean that! Grab yourself a chill pill.
Nev
RRS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
