Well, well, well, this is like the " recession we had to have.",
Is this a good deal or a bad deal, it's all in the eye's of the beholder Or.
are you a glass half empty or glass half full.
What ticks me off is the fact that we have a couple of extreme up rampers that
won't accept other poster views.
I have posted in the recent past, the fact that VMC were not going to contribute one
brass nickel towards the construction of the processing plant, nor were they going to
pay their share of exploration, it would all be coming out of gold production and VMC would still be
walking away with 30% of the project.
Jeeeez the hammering I got would have made a lesser post delete their HC account.
I congratulate VMC BoD, hard dealers.
I also congratulate RR for extricating RXL out of a less then good situation that we were saddle
with by the previous deal.
In reality this is costing RXL SHs $63.7m
Share issue $27.5m
Forgiving of debt $6.2m
100% processing plant cost, an extra, $30.0m
Total = $63.7m.
VMC walks away still retaining more than 33% equity for no cost.
Was it a good deal ??? under the circumstances, the best we could hope for, but currently
we paid $63.70. per oz for a thousand OZs, lets hope that , that is the going price in
a TO if it happens.
And as for my humble opinion, it is a good deal, we have at least set a price, or where
the MC should be.
It's going to be slow but steady ( UP ) from here, with drill results due and an update on
the MRE (hopefully 4m ozs) and PFS we should be close to the value we put on the gold. 'ie'
$189m MC. Good luck to all rampers " the ups and downs "
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