It was what I expected, there were enough facts plus teasers to placate the natives, without being over exuberant and yes he was uncomfortable about the DD results but there are only two pending assays, with more drilling to be done.
'Assays have been received for 8 diamond holes at Grace with results pending for 2 holes.High grade results include:RXDD004: 1m @ 18.62g/t Au from 202m'
'Rox has engaged a new diamond drilling contractor and plans to test the down dip extent of the Gracemain lode in due course'
The Quarterly update, plus commentary in the Webinar may have sparked sufficient interest for new investors to enter the fold, at the very least, we appear to have halted the down trend for now.
Maybe it's just me reading more into it than what's been said, but after today, I suspect Alex has an alternate plan with the Nickel.
All hypothetical for discussion but my thoughts are he'll spin off the Mt Fisher assets into a new venture. Perhaps trying to capitalise it at say $50m through a new listing, with RXL shareholders receiving around 60% of the shares and the balance of $20m being used to fund our proposed mining projects i.e. no further cap raise required.
That would make more sense than a direct sale (providing his mates can get the $20m from new investors) as he/ we retain management plus majority interest.
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Mkt cap ! $62.79M |
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No. | Vol. | Price($) |
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10 | 289156 | 17.0¢ |
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2 | 106673 | 0.150 |
Price($) | Vol. | No. |
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0.180 | 151267 | 5 |
0.185 | 99850 | 3 |
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0.195 | 20000 | 1 |
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Last trade - 15.53pm 03/05/2024 (20 minute delay) ? |
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