Dont get caught with RXL at end of day, it could be dangerous. It was a good anoucement but they only have 16,000 cash in bank and 1 mil deposits at call. If they want to go to the next step, as they own 100% of the project, it seems like they will need to negotiate a significant long term loan or dilute the company with another rights issue. They seem to be burning 200k a quarter to date but now with this barrier out of the way they could be burning a lot more.
