RRS 0.00% 0.1¢ range resources limited

put your money where your mouth is

  1. 201 Posts.
    The time is fast approaching when the BOD Of RRS will have to "PUT THEIR MONEY WHERE THEIR MOUTH IS" as opposed to putting "OUR MONEY WHERE THEIR MOUTH IS".
    In approximately 5 weeks from now the 10c options granted to the BOD of RRS expire and therefore they will have to pay up and convert them to paid up ordinary shares.
    It is my opinion that one of the reasons amongst many others why the SP of RRS has been languishing is that the directors have still not converted their options to paid up stock.
    Just like when the directors of any company increase their holdings by purchasing shares in the company, the market looks at that as a sign that the company is doing well and is likely to continue to do well in the foreseeable future. Because the people who are in the best position to know how the company is doing are using their money to buy up stock with the knowledge that they should make a profit from that investment. Consequently the SP of the company goes up because of the buying pressure in that companies stock.
    The BOD of RRS/RRL could have sold fewer shares a few months ago and utilised that money to convert the options into paid up stock why they didn't do that I don't know.
    However with the SP of the company at circa 8.5p today and it doesn't look like going below say 6.5p ( approx 10c) now that the plug and return has been announced on the Mukhiani well. Then IMO the SP should get a big boost when the options are converted because that would give a signal that the directors think the news flow in the short to medium term will be good and consequently the SP should get a good fillip especially with big news regarding the Puntland spud imminent.
    If God forbid these options and not converted and they let them expire ( I dont think that will happen) then it would signal to me that the BOD of RRS/RRL have not got any faith in any of the Range projects.
    What would that suggest about:-
    1. The sell of the Texas assets in the new year and the special dividend we've been hearing about for months? If the figures touted for the special dividend are correct then the BOD will get back their investment in a few months time and the shares will become free.
    2. The Puntland onshore shabeel 1 to be drilled in December and the second drill straight after?
    3. The second shallower drill in Georgia and what results the VSP produced on the Mukhiani.
    4. The TT project, the CPR to be released any day now, the Herreras drills etc etc.
    5. The broker notes that are going to be released any day now?
    In the current economic climate people are saying that the only thing that will move the SP is news of an oil strike, it is my opinion that the other thing that gets the SP moving is when the officials of the company buy shares in the company or convert their options into shares.
    So come on PL and co, we know you are very good at making others part with their money to invest in Range. Now let's see you " PUT YOUR MONEY WHERE YOUR MOUTH IS".






















 
watchlist Created with Sketch. Add RRS (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.