Ann: Rox Shareholders Overwhelmingly Approve Youanmi Transaction, page-18

Time is running out to pick up FREE shares in RXL arising from the Youanmi transaction with joint venture partner VMC. The record date is next Monday. Shortly thereafter VMC shareholders receive an in-specie distribution of RXL shares. At current prices this will equate to an effective dividend to VMC shareholders of around 10c per share of RXL shares.

There will probably be some short-term profit taking in VMC, but it would be amazing to see their share price drop the whole 10c as their residual assets will still be worth close to the current s.p. of 19.5c. This will be underpinned by the company's shareholding in RXL, also worth around 10c per VMC share (from next week VMC will be RXL's biggest shareholder), plus significant cash and other investments including some very promising exploration projects. (See my post early on in the VMC thread "value of VMC" for my full calculation of the relative values).

The disparity in relative value between RXL and VMC since this deal was announced has been incredible, and this is the last chance to take advantage of it and increase your shareholding in RXL at a likely significant discount. Similarly it can be argued buying VMC in time to qualify for the distribution of RXL shares goes some way to countering the dilution effect from the issue of these extra RXL shares.

Of course these are my own calculations and you should always do your own research.