Further to my previous post, RXL does have potentially at least one advantage over OVR - they likely would be able to free-ride off Teck into production, should Myrtle prove up to be economic. That, in exchange for a stake that still could exceed a billion pounds of combined lead/zinc could prove to be a company maker.
IE:
12.9MT at 4.8% = 619,200 tonnes of zinc There are 2204.63 pounds per tonne, and thus 1,365,106,896 or 1.37 billion pounds of zinc based on current JORC and 30% stake.
The amount of mineable zinc would then depend on recovery rates and metallurgical work. If it's anything like OVR expects then an 80% recovery rate would work out to be 1,092,085,517 pounds of recoverable zinc.
If RXL was able to effectively free-ride itself on to that amount of zinc, then I would say shareholders would be extremely happy.
RXL Price at posting:
6.0¢ Sentiment: None Disclosure: Held
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