Fantastic effort spovend and hadja2, excellent reporting, thank you. Some questions were answered, others not, but the show moves on.
If, like me, you continue to hold, you are probably of the view that Findlays, while getting a good deal, have risked plenty and in so doing have enabled rrs to stay alive long enough to attract a potential jv partner with the necessary balls to invest in operations in Somalia. Let's face it, even the relatively stable Puntland was never going to be an easy sell. The positives are the high probability of substantial reserves and the fact that the Puntland Government is staunch.
If Canmex sign on, if the 20% is farmed out, if aim listing is completed, Findlays will make plenty. So will all of us bravehearts who have stayed the course. For those who hang on long enough to see successful drilling results it could be enormous. Of course, we also risk doing our dosh completely if things fall thru. That's the possibility we have to acknowledge.
Canmex is the key. They already know the area they are venturing into is not Disneyland, they are enticed by the riches. We are perhaps only a decent psa away from the ball really starting to roll.
Good luck to all holders. I understand where the knockers are coming from. All know it's a high spec play, some are prepared to freight up and stay in, others are happier looking on, and occassionally putting the slipper in. It's all healthy.
I like the different points of view that are expressed here. And the quality research. In or out, you've got to love the drama of rrs.
RRS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
