UK 05:43 Tuesday, 6 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
This morning, Range Resources (RRL) returned from its self-imposed six-month suspension. As of writing, the stock is up 70.7% at 0.96p. After the issue of 650million shares to Sibo, for the £5.2million lifeline announced last week, Range will have 5.77billion shares. This values the company at an eye watering £53million and leaves only one question. Has the market lost its mind?
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Comments
DUCK AND DIVE
It’s great for the PIs. If I were one, I’d be cashing out with thanks. I don’t trust the “recently formed” Beijing Sibo Investment Management to have any concern for other shareholders and assuming that all proceeds to plan with Sibo getting 48% of the company, I think it will only be a matter of time before they engineer a repayment default so that they can take the company private and acquire the rest of the shares – which by then will doubtless be much closer to 0.4p than a penny.
In other words, they will have effectively bought the company’s assets for around $20m – which I assume is around what they are worth. Probably they could have put in a t/o bid at around 0.6p but they wouldn’t want the plc and the shareholders. Or they could have risked waiting for Range to go tits up but might have lost assets to other predators.
The Chinese are good at this. Vatukoula Gold Mines was a recent example.