Timmar, great to hear from you, you have news and sound...

Timmar, great to hear from you, you have news and sound positive.

I am still holding "strong" but I don't agree that those who have sold are weak. The people who sold probably had enough of the garbage and identified better stocks with better management and cash in the bank. Just because some investors have ditched rrs it doesn't make them weak. They probably just wanted to be in a stock that increases in value rather than goes backwards at the same time as the company makes progress. The delay to AOI drilling programme may have been the final straw for many. It wasn't the scarmongering that turned so many off, it was the scarey performance of the sp. Many people just had a gutfull of the never ending story and unrealistic timetables and forecasts. To then find that an associate of a director had been the mega shorter who made nearly 18 million dabbling(incuding shorting) in rrs, well some investors just can't cop that sort of stuff and chose to walk.

Let's look at the winners list since Dec 2005

1. Directors (received hefty salaries and expenses)
2. Consort (received a stack of cash for the rights they mysteriously obtained))
3. Puntland Govt (received regular monthly payments)
4. Finnies (received discount shares and a consultancy fees for arranging the issue of the discount shares).
5. Captain Starlight (received huge fees for vague services rendered)
6. Consultants (received huge fees for whatever)
7. Contact Resources (received rrs's uranium interest for a pittance)
8. AOI (bought 80% of the best fields for 50 million exploration effort.
9. Lackaconsultancy (received generous fees for keeping shareholders so wonderfully informed re progress)
10. The manipulators and shorter who made millions.


The losers list is comparatively short:-

1. retail shareholders of rrs


You are right, the shareprice is a disgrace. That's what happens when cash is wasted, sp is played, share pool is regualarly diluted amid endless speculation re untold "30 bagger" riches and off-shore JVs just around the next bend.

You talk about the drive that currently exists and ask "..have things ever looked better?" For me, things seemed much better prior to the suspension of the AOI drilling programme.

You have talked to PL recently. Did he say anything about how this company(with nil income, next to jack in the bank, and a talent for burning cash) is going to continue to operate unless they can do another cap raising and issue a truckload of 10 cent shares to some lucky sod?

When the drilling programme is resumed, then i'll get excited.