a fair question mate. Monitise Grace somehow for cashflow would be the only viable option I can see in the short-term.
two options - RMS's Mount magnet however they are mill constrained. No spare capacity for toll treatment and have enough dirt to negate an ore purchase.
second option is toll treatment through Dalgaranga- only mill in the district with spare capacity. Probably toll treatment as GCY look to be cash strapped based on last qtr. That also means RXL will need to finance the venture up front - and hope the gold is in the ground. Risky maybe.
longer term, and I've said it before - sell the UG mine to the eventual owner of Wiluna and revert back to exploration. No need to built a plant at that grade it should be truckable. This was the original strategy with Apex - makes sense now as it did then.
Both scenarios I view RXL lacking leverage to cut a favourable deal. But stranger things have happened. Good luck mate.
RXL Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
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