Whilst I understand why comments tend to express frustration I...

Whilst I understand why comments tend to express frustration I was not surprised by the announcement. The previous report clearly indicated that the management are now very confident about developing a mine plan as quickly as possible. It is natural that they they need capital to do this. I am unsure whether the placement will be to sophisticated investors (and similar) or whether everyone has opportunity to participate. However I generally find that it is common for the share price to drop below issue price within a couple of weeks after a placement (often because their are angry shareholders) which is when I rebuy in.

My opinion is that RXL has a great resource, and more than happy to see mining fast-tracked.