Ann: Retail Entitlement Offer Results, page-22

There's one element of the criticisms, in saying RXM is struggling to get funding that bears close examination.
That is, who and at what price they are willing to provide equity to. That's where the high degree of skin in the game comes into play.

As I see it, there were enough people who wanted equity or JV in RXM. What RXM has held out for is; no placement that would give a party equity that could readily turn hostile. They also want JV equity on the valuation that will partially price for stage two indicated and inferred ore note I've steered clear of calling it either reserves or resources. They are convinced of the Cu price coming good in due course. I can see them working through the tough conditions and am using all my experience to interpret it. In general, I'm pleasantly surprised to delighted with their steps. Most recently they made concessions to get past the funding gap to pretty much ensure a bridge to the Cu price takeoff. They are tough decisions and made a real effort to bring us along. Mostly I've had great results from rights issues like these in the past. I'm not going to go into the financial market theory of non-renouncable rights issues, again. When I studied, it was covered in Finance 101. As far as I know, is core to MBA training.

They are not surrendering the crown jewels and I'm supporting them. I've got five Cu holdings and am building them progressively. RXM has the most funds without the strongest potential due to the risk/ return trade-off. Every person's is different and a rising tide floats all boats.

All IMVHO.