Ann: RXL: Youanmi (Grace) Shallow Drilling Delivers More High Gra, page-26

It's interesting to see how emotional people get on these forums and how much it affects their judgment.

You are speculating that Alex is somehow a mastermind planning to outspend VMC to make them default on an interest free loan.
That would make sense if VMC didn't have ~13m$ worth of cash and liquid investments (against 15.8m$ for RXL), while only having to contribute for 30% of the expenditure.
Especially considering it includes a ~3% stake in RXL, not exactly something you want to see dumped on market.
Exploration expenditures would have to be >30m$ total before VMC gets into any kind of trouble.
If 30m$ is indeed spent, the share price will be well north of what it is now for both companies.

There is also a certain irony in celebrating that VMC might have to dilute their holders down the road and claiming RXL is amazingly managed.
Didn't RXL just massively dilute their holders in the last raising ?
Everybody has their brain so clouded with paper gains endorphins, they didn't even realize if that raise had happened a month later, RXL would have 20% less shares on issue and the share price would be 25% higher.

PS : I have way more RXL than VMC.