I understand why people are filthy but maybe we need a bit of perspective. I like a few other keen holders bought post the Rio Tinto spike when the SP had settled into the low 3c range. The SP gyrated around that level as many of us enthused and hypotherized daily up until the Teck deal was announced.
When the announcement came the price spiked from the low 3s to the mid 12s which was quite a spike. I have had plenty of time to reflect on that spike and beat myself up for not taking full advantage particularly as the following statement was in that announcement for all and sundry to see :
"Teck to take a placement of 10 million Rox shares at 5 cents per share , a significant premium to the current share price."
That should have been the clue. Perhaps we could say Dickson did not drive the price down but rather the market drove it up in a frenzy and he took advantage as we also should have. It seems logical in hindsight that it was always going to drift back towards 5c.
There are many points on the plus side for RXL. They have 2 majors on the register, They are now cashed up, they are in a known zinc belt, they are close to infrastructure etc etc. But still only a fool would give no mind at all to a director selling no matter what their stated reasons and hence my somewhat reduced exposure this time around.
I would be very happy and feel a bit more confident if I saw a director buying a significant number of shares during this market dip.
RXL Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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