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Letter to Board to remove MD, page-21

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MrAu

4,102 Posts.

1338

02/02/21

21:02

Post #: 50653094
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Originally posted by csadeev: ↑

I admire your optimism about RXL's future, but currently most of the micro and technical indicators point towards the wrong direction. The only positive thing about RXL is its assets, but with an incompetent management, those resources are very difficult to be monetised.

Food for thought:

Which company would offer the fair value of the nickel asset ($20-$25m), if potential investors knew that RXL could be soon in a tough spot financially (no revenue, high capex, outrageous management salaries)?

Which fund / retail investor would chip in for a potential CR to build a new processing plant that could cost more than RXL'S current market cap ($80m-$100m)?

Which miner would buy RXL if they don't have a recent JORC and they only have 70% of the assets, which are probably declining in value everyday due to the countess dusters?

Who would trust AP, when he is so arrogant he can't even issue a one page document to the owners of the company, who actually pay his salary?

I think removing him from the management can be on the table and it's definitely worth a discussion.

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A CR will be needed just to pay APs salary.

RXL Price at posting: 3.2¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 15.0¢		Change 0.015(11.1%)		Mkt cap ! $61.58M

Open	High	Low	Value	Volume
14.0¢	15.0¢	13.8¢	$815.3K	5.877M

Buyers (Bids)

No.	Vol.	Price($)
6	448762	14.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.0¢	244410	5

View Market Depth

No.	Vol.	Price($)
5	438762	0.140
8	1025652	0.135
6	333823	0.130
2	253255	0.125
7	562916	0.120

Price($)	Vol.	No.
0.150	244410	5
0.155	110000	2
0.160	263281	3
0.165	73274	2
0.175	29411	1

Last trade - 16.10pm 18/10/2024 (20 minute delay)

RXL (ASX) Chart