Ann: Entitlement offer to raise up to $7.62 million, page-79

I am more interested in facts rather than speculation of whether numbers that will be issued by RXL are fraudulent, which I consider unreasonable. RXL is not for sale. There is a 27% blocking interest-fact.

1) Hawkes Point

HP blocked a takeover bid for CMM. They would do the same for RXL unless an offer was absolutely outstanding. The CMM share price chart since the failed takeover bid speaks for itself.

2) Venus Metals

Although VMC would be happy to access some cash for its RXL shareholding, the shares are subject to escrow conditions and there is the little issue of the VMC Managing Director being a Director of RXL and earning Director Fees from RXL.

Despite some shareholders claiming the lack of a takeover thus far means RXL does not hold significant value, I sure that boards of ASX listed gold mining companies have been able to join the dots and work out that RXL is unobtainable at the moment.

The Entitlement Offer will be fully subscribed and that may involve Hawkes Point soaking up any spare shares that others did not take up.