I'm as frustrated as many others here with drilling announcement delays however....
It's plausible that AP is currently in negotiations with VMC to buyout their share of the joint venture tenements. That would account for the delay in assay results and satisfy the ASX that no breach of disclosure obligations has occurred, given that RXL and VMC would need to be all over the potential drilling discoveries to determine an agreed price.
More than likely RXL would seek loan funding for that purpose, rather that a cash and script offer. Hence my speculation earlier today of a pending Nickle off take agreement, providing sufficient cash to repay the loan plus interest, whilst still leaving us the remainder of our in-ground asset to deal with further if required.
A quote from the X-Files series says it all "The truth is out there, but so are lies."
I'm as frustrated as many others here with drilling announcement...
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| RXL (ASX) Chart |