Matchbox,
now that post deserves plenty of thumbs.....
i still don't see the purpose of Resolution 5 being voted for at the AGM when somehow they where able to issue a significantly larger amount...... but anyway....
$5,000,000 is exactly the kind of cash backing that was required for RXL to drill the high grade target area & significantly increase the resource base....
if that is done & proves succesful the next player coming in with 70/30 JV offer will be paying a much larger sum...
The company is a zinc explorer, that is why people invested in the company - to extract value from Myrtle, not a half way journey to then palm off the larger part when significant realisation of the resource is only a drilling program away.....
I do think Teck is a very impressive partner to have on the project -
but should they be there at this point ?
i don't think so.....
Management state that they continue to find ways to deliver shareholder value----
do i think so ?
not really...
While i don't mind the Marqua project - that is not why people invested - it's not the time to walk away from a long held project and start a new one.....
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time for reflection i think, page-8
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