A somewhat irate Gar1957 sent me this private message and wanted me to post it here, so here it is Gar1957.
Gar1957 writes:
When did you become an investor? When it was $8, a year and a half ago? When it was $3.50, a year ago? When it was $1.50, 6 months ago? When it was 3/4 3 months ago? When it was 5/8 yesterday? Something is drasctically wrong with this company. Despite all your arguments about the fundamentals etc....something is fundamentally wrong with this company. Gold goes up over 20 dollars in the past month and this stock makes new lows. Durban deep doubles in a month and this stock can't keep it's old lows. It's interest in Durban doubles in Mid September and Rangy stock just sits there, with an occasional 1/32 move. This company is not all concerned about investors as it claims to be. It reminds me of a certain REO whose "directors" disappeared about a year ago after going under--must be the real reason it is incorporated in the Channel Islands. It is loser and it's about time you stopped pushing it and start doing some real work by finding out from the company itself what's it's plans are to increase shareholder value. The big players, ie...banks etc...who must own 70 percent or whatever the big number is are dumping this stock and this is why it keeps going down...
pls post this on Techstocks.com
Thanks
Gar1957
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Hi Gar,
Thanks for your opinion.
I've owned RANGY on and off for many many years. I first bought it around a buck if my memory serves me correctly and sold it a while later at 3-4 when I thought it was no longer undervalued. I started rebuying it last fall, and have paid as high as $2 or so for it, and as low as «. My average cost was around $1.30 a while back, but I've added so many shares over the past month I'd sure my cost is well under a buck now. I agree with you 100% that RANGY needs to do more in regards to keeping customers informed. Your can't expect RANGY to mirror Durban. They are totally different animals, and your views are a bit too short term for me. I don't concern myself much with short-term moves. I'm looking 2 years down the road when RR is making huge amounts of money from 500,000 ounces a year in production. Durban was $11 or so a while back, and is under $3 now, so I fail to see your point. They've both sucked :)
One thing you may not be aware of is all the major publicity that Blanchard has given Durban in his most recent issue. His thousands and thousands of readers have undoubtedly been responsible for the recent run up, and I see it already starting to pull back. If you want to look at very short term, yesterday Gold, Durban, Harmony, and the XAU were all down and RANGY was not. It's obvious from the volume that very few know of Harmony or RANGY.
Regarding your comment about ME needing "to do some real work" I've been doing more than my fair share of work to help inform investors of what is going on at RANGY. I think YOU need to do a bit of work by looking hard at all the facts on the website I made.
geocities.com
Download the spreadsheet, put in your own estimates. Call the company to verify my numbers. I'll be grateful if you find any areas I can improve upon. Maybe you can help out a bit and call RANGY yourself and post what you find out. Their phone numbers are on their RR website. If you're a shareholder, I share in your frustration at the recent price weakness, but am confident this will pass with time. I'd be much more concerned if the stock was going up due to some newsletter rather than knowing how great the fundamentals are. In the end, sooner or later, what will really matter is how much money they earn. This will take care of it self in time. I calculate that Randgold Resources will be making in the neighborhood of 80 Million a year within the next 2-2.5 years. This should give RANGY a share price of around $12, assuming RANGY isn't sold off first. If there is a buyout soon and RANGY's NAV is around $1.5 - $2, then I'll be happy to get that in the short term and I'll take a quick double and then put my money into Durban, RR or some other undervalued company.
Again, thanks for your post. I always spend more time reading the negative posts to make sure I'm not missing something. If you find out any new info from RANGY, please let us all know. |
