Top up on RNI?NRR has been a seller and as at 31/1 had reduced...

Top up on RNI?

NRR has been a seller and as at 31/1 had reduced its holding by about half. It may have none left for all I know.

I am not an NRR holder, but have been an RNI holder for a few years and I reckon I know a fair bit about the company's affairs. When it bought this asset from NRR I thought that there would be a mutual benefit. RNI gets land it wants and NRR invests in RNI, a company with many Bryah Basin assets. But how wrong it seems I was about NRR's intentions. It just wanted the money. RNI could only offer shares it appears, so NRR has been selling at the equivalent value or above ie 8c or so as to convert to cash.

RNI is now 11c and imo likely to go much higher. It's therefore not too late, but to buy back at a higher price would be difficult to explain to shareholders. My guess is that NRR did insufficient (if any)due diligence on RNI as it did not see it as a company to invest in, instead just seeing it selling an asset and converting the shares to cash in a timely manner so as to raise about $300,000.00.