A rights issue does not dilute our individual holdings once we take up the offer. It will also be a market positive for Hawke's Point to grow their stake in the company as they are very likely to do. imo the next CR will be on the back of a positive Scoping Study with the SP above 30 cps. The cash raised will be partly used to convert more inferred gold to indicated on track for a reserve that will underpin funding for the restart Capex. 1m ozs of gold in high grade ore at the Deeps is a likely outcome along with an increase in near surface gold based on Grace, Link and the Hanging Wall. Cash will also be spent on the Damsel/ Dam prospect which is under the market radar now but showing huge potential. With an off-take deal Fisher Gold could get into production before Youanmi.
RXL Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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