Ann: Quarterly Activities Report - December 2022, page-18

Only because of the consolidation

With the drilling ramp up a raise will be required in Q3.

Resource size is irrelevant. It's all about the production profile and what can be economically mined. The production profile used in the SS is full of red flags with so much of the production profile assumed being inferred resource.

Small cap gold stocks in a full blown bear market with no recovery in sight.

You are betting on sentiment to return and fools to pile into RXL to pump the SP so the company can do a raise or for you to sell into unsuspecting investors. Without a catalyst where there is consensus that the gold price will surge much higher i.e. 50%. there is no chance this will happen.

If no complete takeover of RXL by Q3 and no market re-rate, the next raise will kill most RXL shareholders.

SP will drift lower, raise will be done -20% with even more oppies attached if gold small caps are still in a bear market.