VXL's parent company SER wouldn't be overly thrilled about that. All is equity gone plus future royalties. Strangely it's shareprice has barely moved. Neither would RIO losing the better part of a half mill in a couple of months. A very short time ago they obviously thought VXL was worth investing in and you'd assume they would have taken a look at the financial circumstances. As for Chimaera they may have some favourable clauses in the contract but in my own experience managing contracts it's not always good business to take a hard arse approach just because you have the power to. I imagine they've got to be slightly careful who they piss off particularly with some large players involved. Anyway there isn't too much point in endless speculation at this stage, very shortly we'll actually find out.
VXL Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
