Range Resources Forum

God - where is the bottom on this share. Be good to see an upturn

SP, well I did state that it would settle in the 0.70's, the chart revealed the SP's true intentions. The SP will keep falling, 0.60's soon and we'll still have posters saying it is being manipulated when in truth PI's are capitalising losses. Best Doji

Independent Resources/ IRG, has taken a bit of a bashing since 2011, with the earthquake in the Po Valley having seriously put into question the value of the Rivara asset, but thankfully all looks set to change and investors can either grab a great long term hold or profit short term. Jumping straight in with fundamental analysis, historically Independent Resources has traded as high as £1.50 per share and mostly within the 40-60p range. Cantor have even placed a 67p target on these shares, which I expect is based on pending news from the San Gervasio project, which has the potential to generate positive cash flow within nine months of a confirmed award (Independent Resources have already scored highest with the awarding body and most analysts expect this award to be confirmed prior to the new year). From a purely asset based valuation, Independent Resources still stacks up well with a Net Asset Valuation per share of 30p, making it very undervalued in the market. Adding to all of this, no news on major projects has been heard for more than four months now and combined with this final results are expected soon. Although, the question over the award of the flagship Rivara asset may still trouble some investors, I personally don't think it's as relevant to the company as a whole than it used to be. With the expansion into Tunisia and other such countries to accumulate assets, Independent Resources looks set to rise up from these low levels. For short term traders, the current prices may seem a little high and from a technical perspective the RSI and stochastics may suggest that you ought to hang on for a cheaper price, but obviously if (as expected) positive news comes out soon you won't want to be left at the starting line. For the long term holders, these levels would be a great buying time and you never know, if the spot price rose up to £1.50 again you could profit more than 2000%

I don not see the SP bounce from here, the SP will settle below 0.80, say 0.78. once settled in the 0.70's then maybe a bounce but nothing major. PI's looking to capitalise losses, April looms. Best Doji

SP 0.77, once again showing PI's it's intentions. This is going so low that it will be difficult just to get back to 1pennie and this had always been the true danger as the drop had been and still is consistent....Best Best

SP to open down...Best Doji

I speculate that the shares in RRL will increase again and again. Best Doji

SP will see 0.70's soon. 0.80 will become the new ceiling. Best Doji

SP had to rise slightly so they can offload shares and take it down further to a new low, well I say rise but lets be honest it's hardly life changing but at these levels it look good doesn't it eh. I really feel for the MM's as they must have buckets of these to get rid of. Best Doji

"Cough"...you can let go of them now Dolly. Best Doji