Hi All, IMO! The irresponsible and profligate attitude of the...

Hi All, IMO! The irresponsible and profligate attitude of the management towards our cash has cost us dearly.Surely they must have been aware that the coffers were been depleted too rapidly to enable them to avoid the forced CR? By late 2017 ,in order to guarantee solvency, RXM was committed to a CR.Unfortunately the CR had to be arranged at the time when the sp was about 11cents. Had RXM had the sense to maintain enough cash this would not have been necessary and we wouldn’t have found ourselves in the position that we are in at the moment. RXM have wasted a lot more than $5 million dollars in the last 3 years! As a consequence we have given away about 12% of the company for a miserable $5 million dollars. If RXM becomes a viable mine that is a real fire sale. IMO they are an incompetent bunch who haven’t made any attempt to economise even though the company has been in a virtual stand by mode for years. RXM’s major problem , management excluded, is not the PERP but the fact that the copper grades are marginal.The IRR is about 14%, Not adequate IMO. Even with a disruptive EV boom neither the Cu price nor the dollar cross rate are guaranteed to save us in the short term. I’m hoping the Chinese cavalry will come up with some major economies in mine construction costs,but I hope it’s not a la cudeco,which seems to have been a disaster. BOLTA!