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Ann: Share Placement and SPP to Raise $12.7 million, page-30

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82Punter

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27/05/20

14:27

Post #: 44868978
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Originally posted by flaming: ↑

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.

View attachment 2192206

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.
View attachment 2192242

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.

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Great post, only thing is the record date for the SPP is 26 May 2020 (i.e. yesterday), so those not on the register by then are out and have to buy up on market.

RXL Price at posting: 2.6¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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(20min delay)
Last 12.5¢		Change 0.000(0.00%)		Mkt cap ! $51.32M

Open	High	Low	Value	Volume
13.0¢	13.3¢	12.5¢	$162.7K	1.252M

Buyers (Bids)

No.	Vol.	Price($)
8	265704	12.5¢

Sellers (Offers)

Price($)	Vol.	No.
13.0¢	292348	2

View Market Depth

No.	Vol.	Price($)
6	254104	0.125
8	191027	0.120
3	158750	0.115
3	28189	0.110
6	162356	0.105

Price($)	Vol.	No.
0.130	250000	1
0.135	335386	4
0.140	328044	8
0.145	479895	6
0.150	244411	5

Last trade - 16.10pm 04/10/2024 (20 minute delay)

RXL (ASX) Chart

Ann: Share Placement and SPP to Raise $12.7 million, page-30

BCI reaches close of funding facility for salt-first part of Mardie project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

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Ann: Share Placement and SPP to Raise $12.7 million, page-30

Top Stories

BCI reaches close of funding facility for salt-first part of Mardie project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Buxton projects new graphite province discovery at WA Narryer play

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Featured News

Buyers (Bids)

Sellers (Offers)

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