accumulation, page-5

acturtle

help us out here on this "certainty" that an immediate CR is on the cards.
I looked at the last qtrly Activities and Cash as at 31st Sept.
I only glanced at it,mind you but it seemed to read that $400k odd had been spent on all this drilling and Rox still had at least $400k maybe more still in Bank at 30/9.
Point is that whatever was still in bank has now been added to by the subsequent SPP that raised $1mil+ so..well...I look at the Sept Cash Burn and assume that some part of the drilling of the 5 hole hits reported in December was paid for pre Sept 30

and then I assume that RXL is NOT iminently in need of cash this week or even next month ie it has sufficient cash in hand to do some more confirming drilling on the Dec "job"
and therefore has no need to CR before further results issue.

Now as I say I only glanced.I'd rather await confirm from the issue of the December Cash and Activities soon BUT

I'm a bit confused by this insistence that a CR is imminent and this being used as an "excuse" for not buying this turnaround by the 'sideline once holders but sold out' brigade.

So is there some Fundamental re the RXL cash position that I'm neglecting?

or is there just this "wish" that RXL return to 4/5/6 cents so the early sellers can get back on?

65 again confirmed today.Yes sp could still retreat below this but seriously is the 'analysis' of imminent below 65 credit raising really valid?

you do realise another SPP not placement AFTER confirming results is also a scenario?

anyhow,anyone please post some Facts that supports the imminent this week/next Patterson's Placement need for Cash Flow purposes.

happy trading