Just had a phone conversation with Alex. I couldn't help myself...

Just had a phone conversation with Alex.
I couldn't help myself congratulating him & RXL team for pulling this massive CR.
Normally I'm not happy with a CR but this one we had to have. To raise 8.7 million in a day speaks volume. I have added to my position today.

A large fund from Europe (managing over 40 billion) has joined the register.
The reason to move quickly ( 1 yr before the expiry) to secure 70 % of the project was to remove uncertainty around the ownership. Also as per the clause VMC will now be required to fund 30% of the exploration cost OR dilute (if RXL foots 100% of the exploration cost) giving RXL higher percentage of ownership.



A lot of people must have been anticipating this CR.
Now that it is done & dusted, the uncertainty around funding is clear.
Alex also mentioned about aiming for production in a small scale from Grace Prospects.( in not too distant future)
I think @m0ngy mentioned about it.......maybe he speaks Alex's mind.


Thankfully the AUD gold price is ($2500-2700)
The project is so much more attractive now.

Once the SPP is over, this will start moving up quickly.
Currently 5:1 Buy: Sell ratio.
The record date for SPP will probably be the 25th May 2020.
So non-holders will require to buy up in the market.
Those waiting at 2.1, 2.2,2.3.....Sorry no one in their right mind would be selling at that price.
2.4 has become a solid floor.

Thanks to @m0ngy, @Fish007, @ScoobyDoo , @the flow, @Sharetrader78 & all informative posters.
Thanks to @yacheng for keeping the trolls away.

All the best.
Looking for the share price to double in a year time.