Ann: Youanmi Drilling Update - High Grade Intercepts at Junction, page-46

It's interesting reading some of the comments here.
It's customary for there to also be some disillusionment when a stock goes from 9c to 3c.

The project itself has great potential. It looks like there is a lot of gold down there, and some of the drilling results last year were spectacular.

Hawke's Point (HP) would have done significant due diligence and realised the potential. They are part of the Tetragon group out of New York. Like some other American funds, at times they can be hands-on, which means they watch the stock for a year or more, and if the management are not doing the job HP expect, then they will call for a meeting, often ending in some positions being replaced.

I'd expect to see more exploration geologists brought on here, after the consolidation and demerger, when there is a singular focus on gold. Their plan is to drill in 2021, but the critical element is knowing where to drill, and how to prove up a resource under the JORC code. This requires geological and business skill and drive. Quite often, after a resource is proven, the company brings on a specialised gold mine development and operations engineer, which I'd expect to see in early 2022, if the drilling is successful here (and there is no reason to believe it won't be).

There is no substitute for great management. A great management team can make a big success of even a moderate project, and a poor management team can sometimes butcher the greatest of projects. What we all hope for, is the best of both, a great project, and great management. I'd say Hawke's Point have identified the potential resource here, and it's good, now RXL need to build the right team. Let's see what the 6 months after the demerger bring, that will give us (and Hawke's Point) a clearer idea and understanding. Remember, there are always options, whichever way it progresses.

Gw