fair value, page-18

Sometimes you wonder what planet these directors are on.
How can a capital raising/placement possibly "add significantly to the share price"?
The shares are 2.9c, so how much dilution will be necessary to get sufficient funds for the next drill program?
What price would they be after the dilution?
If they were going to go down this path, surely they would have made some attempt to support the share price with some positive announcements instead of the silence we have been getting. No one is that silly.

A JV is the only logical solution.
The new venturer can pay for exploration already carried out (giving the company some cash to stay solvent) and also pay for the next phase of drilling.
They may also be able to assist with future product offtake.
They may require 60% and even operator-ship, but lets face it, RXL is a minnow, and hasn't got much left in the kitty.

I think the JV plans are probably well advanced, and maybe the "Scoping Study" will provide more clues.