Ann: High-Grade Drill Results Confirm Extension of Paddys Lodes, page-29

@Jrowl1 Yes, this is a valid concern to have and well worth discussing. However it can work both ways. CR's are a necessity for developers, and should funds be used appropriately, they can accelerate a project and inject future value through the short term dilution pain. A dilution of say ~10%, particularly when the market cap is sitting at 50m, isn't much in the scheme of things if it saves 6 months-2 years of project stagnation (yuck). Things need to happen, milestones need to be met. No cash = no progress = no expectation of news = even further downward SP pressure. It comes down to appropriate use of funds, and a bit of luck with drilling.

From memory there should be ~6m cash on hand, and I think the burn was ~1.5m per quarter (happy to be corrected on this, still learning more about this holding). If correct, I'd imagine RXL is clear for another 6 months minimum. I'd think a CR to be imminent when the cash balance gets down to 2.5m, or unless they scored something well worth following up drilling-wise.