Imo RXL's SP is being reined in on a daily basis again, and given today's much healthier gold price, I believe a takeover offer may well be on the cards EVENTUALLY. Exactly when and for what SP I'm not naive enough to speculate. But meanwhile the lower a predator can keep the SP the more generous they can claim a far-less-than-generous offer to be. RXL already has 3.2million ounces and, given recent drilling results, imo it's reasonable to expect a significant boost to that figure in the coming months. The SP has more than doubled since the transparent campaign to ensure the most recent CR would be held at a bargain basement SP. However the current SP is only at about the pre-Consolidation level. Any TO offer would need to be several multiples of today's closing price before I'd vote Yes. I'd hope that other holders - whether they are the major players or not - would be equally as resistant to any cheeky offers. And if no reasonable TO offers are forthcoming, I remain happy to stay patient until the company starts mining in its own right. PS: Is that the sound of the contrarians and downrampers chomping at the bit I hear?
RXL Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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