$15m investment in rxl current cap. $18m, page-3

just don't get ahead of yourself & take that statement as RXL are recieving $15m up-front for immediate expenditure...

personally i think Teck will move very quickly and as some have suggested may end up putting the full sum forward well ahead of schedule - but that is not to say it will happen like that, still just speculative assumptions on where to from here. Hence the importance i've placed on the agreement being formalised & Teck releasing their forward plan.....


The key commercial terms of the agreement are:

** Teck can farm-in to the tenements to earn a 51% interest by spending $5 million over 4 years.

** Teck can earn a further 19% interest (for 70% total) by spending an additional $10 million ($15 million total) over an additional 4 years.

** A minimum of $1 million to be spent by 21 July 2012, including a minimum of 2,000 metres of diamond drilling before Teck can withdraw.

** Teck will subscribe $500,000 for a placement of 10 million shares in Rox at a price of $0.05 per share.