RRS 0.00% 0.1¢ range resources limited

following post for investors not dt's

  1. 20,114 Posts.
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    I posted most of this on SS thought id post it here to, it was a reply to someone on SS so parts have been removed. This post is for a investors view not a daily daytraders view.

    The rig has been moved to start the second hole, they have moved it now to the gold targets, this does not reflect how the results of hole 1 will turn out, they have 18 holes to drill so theres no wasteing time, while waiting for results they have to move to the next target & keep drilling, remember time is money.

    Fact is if announcement comes out at even 1% nickle the stock continues its move north, 5% nickle you wont be able to remove the smile off your face until your invest your money in another stock, now another fact is if the announcement comes out and says there is no nickle and its only a large amount of Iron Sulphides (which is worthless) we have discovered then expect a fairly good sell off to around low 04's possibly high .03's.

    Now your thinking why was the announcement made if there not sure what the hell it is? A good question, when drilling if the geologist comes accross a Significant Sulphide Mineralisation whether its nickle or worthless iron sulphides it has to be announced, Now you ask why? if the geologist does not announce this and it turns out to be a huge nickle find the ASX will come down hard on the geologist & the company for not reporting any signs that a possible sulphide was discovered, most likely this is to stop insiders loading up or bailing before the announcement is made.

    Now lets assume RRS results are out & there bad no nickle in hole 1 (just assumeing, hopeing there good ), what to do is the question?

    Let the sell off take its place for 1-2 days, then you ask yourself do I re-enter?, Rogue Traders opinion you sure do, Why? There main target at Forrestania is gold which I have mentioned previously in my posts, I think its something like 6 gold targets to 3 nickle targets to be drilled (2 holes each target = 18 holes), they have identified some very good targets for gold so results could some through very good.

    Best to let the whole drilling take its place, overall sp should be much higher than current by the end of month.

    Be patient, dont panic sell even if whole 1 comes through negative REMEMBER there is 17 holes remaining, most likely you will see yourself sell out to low and will have to consider re-entering at a higher price.

    Above comments are just my opinion, best to do your own research before considering to buy or sell.
 
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