As of 19th Nov Rox had $11.79m so it seems impossible that on 30th Sept RXL only had $8M in the kitty.
http://www.roxresources.com.au/wp-content/uploads/2020/11/201119.pdf
With expenditure at $1m per month no CR is needed until near the end of this year.
My opinion only but the comment that they had a good understanding of the geology so didn't need to receive assays before further drilling applied to the southern area of Grace. If you look at the map showing the predictable hits there you will see why.
But drilling to the north was more adventurous exploration where the geos could not extrapolate from their knowledge of the south so they needed assays that were taking a couple of months. But with high rig demand you lay off a rig and lose it for months so they went ahead and kept the rig and had some good low grade hits but also drilled some dusters.
Re the nickel; my area of interest is gold exploration rather than nickel. Alex has already said that there is a confidentiality provision on the nickel.
Not sure about Ramelius not needing water, gold mining requires a lot of water and RMS have 2 mines Penny and Magenta.
In my opinion, the water and airstrip access are not a swap, ie traded. Rox and Ramelius are apparently good neighbours and help each other out.
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