We have seen over the last 2 weeks just how little volume is now required at these prices to push RRS/RRSO forward, we have already gone from 10c to a high of 15c in 6 Trading Days, more importantly on approx 21 million volume. Retrace had us back down to 12c and already rebounding with strong support at 12.5/13c.
The AIM to ASX dynamic of RRS/RRL and the supply and demand situation puts the AIM Market Markers in a very unique position atm, the AIM MMs could push RRS up to 20c and beyond, on approx another 20/30 million shares, and offload those shares the very next morning on the AIM for a profit, with the trading volumes over on the AIM, after a rise to 20c the AIM market would follow, as has been the case for some time now, but interestingly it would seem the ASX has now taken over the AIM as the price driver, on only a fraction of the volume.
Its a unique situation and the best part is everybody wins, current shareholders, MMs, traders.
Now obviously the right news needs to be annouced to market for RRS/O to deserve a re-rating,all due within the next 2-6 weeks,
1)Full RPS Data Georgia Seismic Report 2)Helium Testing Results Georgia 3)Puntland PSA Negotiation and Renewal due 17th Jan 4)Georgia Drill Program Mobilazation 5)Trinidad Aquisition Completion and further take up to 20%? 6)East Cotton Valley Texas Spudding 6)Fraccing of Russell Beverley, and Smith Texas wells to increase flow rates
The next 2-6 weeks will surely see the news flow required to push this into RRS/L into and possibly above 20c IMO.
Cheers jamit01
RRS Price at posting:
13.5¢ Sentiment: ST Buy Disclosure: Held
