This is my first post here. I'm surprised at some of the uninformed and baseless claims being made. Obviously, some people don't do their homework very thoroughly.
On what basis do you claim the "reward area is useless"? The project is only km's from one of the world's largest zinc deposits (McArthur River). It shares the same geology and structure and results to date from RXL and previous explorers has proven very similar mineralisation.
The recent work that proved some open pit potential is good news. The deposit was previously thought to be all very deep but RXL have proven otherwise. Much of the deposit is 350m+ depth and obviously an underground target but the open pit-able portion may provide the opportunity for rapid development and cash flow.
Compare the depth of the Reward deposit with Kagara's Admiral Bay deposit - it's an interesting comparison. That deposit has similar grades and structure to Reward but is almost 3x the depth. Yet KZL jumped some 15% on release of a resource figure!
Drilling at Reward has so far been sparse, with drill holes spaced more than 200m apart. Even so, the deposit has proved to be continuous and is open to the west and north west. All good news.
The laos project is not suffering from poor company management or poor results. It is suffering from Laos government's poor management. The Laos government is in turmoil because the sudden influx of mining and industrial activity in the country has caught them with their pants down and they don't have the knowledge, resources or experience to handle it. Until recent years, the mining industry in Laos has never been more than pick & shovel, so it's all new to the country and the government and they are struggling to understand and manage the industry.
Every company currently active in laos is having similar problems - Oxiana, Pan Aust, Argonaut, Hill End, Alloy, etc. Check them out and you'll see RXL isn't alone.
RXL has discovered a new & previously unknown zinc region and just needs the Laos government to get their act together to move forward.
I'm staying in RXL as a believer.
RXL Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
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