Don't get confused with identities or conspiracy theories jw, its just me.
Just in case you lost the point in the piffle, it was simply that a previous generation of rrs investors had absurd dreams re fair value and came a cropper.
The bloke used to love posting about being in London on business, the expensive wines and mixing with the rrs movers and shakers. Think he even made it to the races with the boys. He invested big money in rrs. Lost heaps too I beleive but he could easily afford it.
That $68 preconsolidation valuation was his fair dinkum call after getting into the huddle and receiving the positive vibe from management.
So really, this new crowd of hopeful and positive investors are little league in comparison and have nothing on the old crowd in terms of enthusiasm and willingness to buy the story.
Its strange seeing a new group of beleivers roll into town, swallow the same stories, dream the same dreams and jump on any negativity as if it was blasphemy most foul.
Tragic really, don't mind people talking up a stock they have invested in,but when they really believe the rubbish its more than a bit sad.
In reality, rrs may turn out to be a great success. Reality is enough, its speculative and risky but has a chance to succeed. Doesn't need the unrealistic dreams and silly figures, that just detracts from the real deal and makes rrs look like a pie in the sky joke stock.
It's all very well for all you keen holders to hold, but the sp won't go up until new investors are attracted to the stock. Besides AOI getting the rig into Puntland, cedibility is the key for rrs and posting silly figures and saying its going to be the next xxx doesn't help.
The company is just hanging on at the moment, little cash and heavily wounded by the shorting and opes fiasco. Political uncertainty casts a huge shadow. RRS need AOI to resume the drill programme pretty quickly.
The biggest problem for rrs will be if AOI are in no rush.
I hope that's not the case as AOI wouldn't have got anywhere near the joint if rrs hadn't of opened the door and established reasonable relations.
Let's all hope that AOI resume the drill programme as soon as they possibly can.
Next week would be fine with me.
If that happens, then even I will turn positive.
RRS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
