Meerkat
The RIO deal was to remove a major incumbance to the tenament.
The Tech deal is a JV with a major, something most minows never get to have. It is esencially a free carry for RXL on two fronts. The immediate capital, sure they could probably go it alone BUT what if it does prove to be a duster. What do we ahve left... zilch. This is pure risk adversion on RXL's part and secondly if the resource increases substancially then we have a serious partner to get the stuff out the ground.
Please look at some other JV's that on paper seem to be a one sided affair have actually benefited the company substancially.
I dont think RXL could have just raised capital at 3.8c (price prior to JV) to continue drilling. Firstly a significant dilution and then secondly a very short sighted approach to a long term problem. CAPITAL.
Good to see RXL support today. I bought some more today as I think we will get news prior to share placement finalisation and that it will be scaled back. I think hoping for a full $15K lot is wishful thinking considering the small SPP allocation to retail investors. Some will get caught with their pants down.
A last note from me is that I agree with some of the thoughts here regarding how this partnership will pan out in the long term. Time will tell.
IMHO & DYOR
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time for reflection i think, page-54
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14.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.30M |
Open | High | Low | Value | Volume |
14.0¢ | 14.0¢ | 13.5¢ | $250.6K | 1.792M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 13.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.0¢ | 211428 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.135 |
2 | 19307 | 0.130 |
3 | 187999 | 0.125 |
10 | 559673 | 0.120 |
4 | 68699 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 211428 | 2 |
0.145 | 243434 | 3 |
0.150 | 209652 | 3 |
0.155 | 105000 | 2 |
0.160 | 257948 | 4 |
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