Range Resources (RRL.L) tipped by RHPS

What I don't understand from yesterday's news is the need to issue another 150m shares to raise £18.75m, even though 100m have been placed with investors with some relevant expertise, it may be strategic but it still dilutes the value of the shares and any potential discovery surely.

Even if they need the funds for Colombia (or wherever), they are planning on selling Texas and possibly using that money in a share buyback scheme, so why didn't they just use that money to fund Colombia and still have dosh left over for the share buyback.

$80m is a figure (lower end maybe) being mentioned for Texas, would buy back 400m shares roughly at today's price.

Chart i posted on world stocks

http://www.screencast.com/t/STWEKVVF

Very straight forward - back down to lower channel line. RSI back down to support line (although slightly breached - not a major concern yet). Red day Monday and i'd be worried, purely from a TA point of view. I'm obviously biased but i suspect we'll bounce, further strengthening the channel line and our uptrend.

There's not enough volume in Horn to suggest anything significant imo. The only thing that worries me is JR stating 4 billion, such BS. If it was true the volume in HRN would be through the roof. Reminds me of Georgia fiasco on RUM.

I read that before and although he's in profit, the idea behind his trade isn't working out imo, being so close to TD it would be over $2 by now if AOI wanted to play it that way.

For anyone who isn't on worldstocks, JR just posted:

"Stockmailer is being updated to incorporate *&^%$#@^success and other key developments."

I really try and not get caught up in anything he says but he's been pretty relentless in the hints lately, combine this with PLs emails, the spike down this morning which was obviously just a stop loss raid and burning out those on leveraged positions, the agreement for off-shore and placement with one of the biggest oil funds so far into the drill i can't help but feel Puntland has come in.

I would have thought we weren't deep enough yet, but in the same update last week where we were at 2400m and no results to report, AOI said they were at something like 1200m with TD of 2800m in their nambia drill with no results to report and today announce TD with a strike.

Becoming harder to keep feet on the ground, Thargor beginning to get nervous as well, in a good way as you say.

GL everyone.

the new shares were placed with a large institutional investor so this shouldnt have any impact whatsoever on the liquidity of the stock.

Good to see HRN toching their all time high today, I am expecting the rumour mill to start getting silly towards the end of the week and next week should see all sorts of crap being posted!!!!! I just hope when the RNS comes it can live up to the crap that is due to be dished around. Range should/could get back up to 16 before Puntland results which could come end of next week

****ty day all round looks like, UK back in recession probably not helping.

Oh sh1t, this has made my weekend

You would have to imagine so, especially with all parties listed on the TSX, far less games and corrupt then AIM where every movement has to be questioned. Fingers and toes crossed!

I think he pops in every now and again. I'll comment on iii asking him to post here. He mentioned something to me a few months ago about Range doing another deal in morocco similar to the TPT deal but didn't divulge any further.

Can't say i follow, poodles....

I realise that poodles and i've looked at barrus's website but haven't seen anything to indicate range farming in.

Can i ask why you are being so coy on the matter?

struck again in the super stong resistance 13s'...