Nice find Baro, I was focusing on DRMs other major farm-in area today (Horse Well).
I don't think the $1m by June 30 is an issue, as RXL clearly state that the drill program has already been completed, 12,000 metres of drilling would, IMHO cost less than $1m, but they would have also spent some money on analysis etc. The RXL quarterly state essays are due 4-6 weeks, or basically, now. So hopefully not long to wait at all.
Not that important, but I think DRM planned to drill 16,000 metres, but... with the rain event, perhaps it as scaled back.
Now that have had a bit of time to really sort through all that DRM has undertaken over the past 3 years, without doubt Alan Kelly is a good geologist. Why, his choice of drilling etc has already discovered 2 proven greenfield discoveries or varying sizes, i.e Gwaneeda (266k ounces in resource to date) and Duck til Dawn (although frustratingly, to date they have not done a resource estimation for it), with all the focus needing to be on Gwaneeda due to being a possible source of ore for Andy Well.
I think Horse well is slightly on the back-burner due to them needed to meet the other farmin commitments (i.e - they have met all the spending requirements).
This might be of some interest, but Alan Kelly is now a director at AYR, who is the J/V partner of DRMs in the Horse Well gold project. Perhaps just a sign that he still sees a lot of potential in the tenements.
