Isn't this a risk then?
RXL have two sites which are awaiting drilling and results. If the results are good then they would need to perform more drilling to determine the size of what they have.
If the results are poor on 1 site, they have the 2nd one to fall back on.
Adding a 3rd site essentially means that they not having operating / drilling funds or ability to service Younami and Cullans.
Then again you could argue that having a 3rd site increases the asset value of RXL and spread the risk of sites 1 & 2.
For all we know the deal could be too good to pass up.
RXL chart, page-46
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17.0¢ |
Change
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Mkt cap ! $69.80M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75000 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 22000 | 1 |
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