rrs announcement, page-5

re: rrs announcement blackoil in the short term i cant see the SP rising much apart from your short premature trading spikes,

there is considerable technical overhang in this stock now which will be a heavy weight on any rises. many punters got burnt up to 6c. so plenty will be seeking exits one would assume on the slightest sniff of a half decent assay.

however the chances of a good assay coming in are getting slimmer by the day. add to this the explanation of why they needed the recent placement funds "deeper drilling" and this imho gives the game away that this round of drilling is a dud. but this is only my opinion so i could be hopelessly wrong.

on a risk reward basis, it is not worth holding atm. best to wait for actual assays and if you then like it there will be plenty of time to hop on. i dont think the premium would be that much.

mngmnt is also a very negative aspect indeed with RRS. credibility is shot and they need industry nous on the board not more accountants. plus they have too many directors milking RRS. in short, fresh mngmnt is needed.