After the Lithium announcement we concluded that the MRE was not...

After the Lithium announcement we concluded that the MRE was not imminent. Is the company going down the under promise/ over deliver road of disclosure that shareholders prefer? Will the PFS drop before June?

if someone with technical knowledge could please elaborate on the changes in JORC Reporting which led to the total resource downgrade I would be interested. However, in $dollar terms the ounces that go into the mine plan are the truly important ounces. Youanmi is shaping up as a long life, high margin future mine. The PFS is in all likelihood going to report a very high NPV, many multiples of the market capitalisation. The company will also probably now genuinely be on the takeover radar going forward as it has been significantly de-risked. Unlike retail investors, producers are driven by projects that are EPS accretive so if Youanmi is worth $0.80 per share to them they will not be put off by paying $.50 to take out Hawkes Point and Venus, who effectively hold the keys to a takeover.

As the share price has bounced since the release of the MRE (a mild endorsement of the news), the POG is around $AUD 3,100 and rising, RXL have not included zones in the current MRE that clearly will add to the MRE and and the PFS is coming soon, hopefully the next CR will be at a much higher share price.

It’s an exciting year for RXL.