RXL rox resources limited

Remove Stephen DennisHold this board accountable, page-5

  1. 145 Posts.
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    I'm neutral on the subject of whether "Teflon Dennis" should go. However, I bought into Rox Resources for its gold potential, not it's nickel. Like others who received Cannon shares, I did reasonably well out of the sale of Rox's nickel assets and certainly have no axe to grind.
    I was interested to read on "Auntie's" news website this week a report entitled "Moore brothers reflect on nickel boom and now bust as BHP's Kalgoorlie smelter shuts down".
    From the article, here are what imo are the most relevant quotes that suggest RXL's nickel sale wasn't such a bad deal as some would insist...
    "Western Australia's once-booming nickel industry has collapsed this year with thousands of job losses. The Kalgoorlie Nickel Smelter has operated since 1973 but it is the latest casualty after being placed on care and maintenance."
    And ...

    "The currentstate of WA's nickel industry is how one would imagine that chicken tasted after it came out of the furnace, with thousands of job losses and mine closures this year.

    The WA mines shuttered so far include Ravensthorpe, Cosmos, Savannah, Kambalda North, Cassini, Forrestania, MountKeith, and Leinster.

    Just two have survived — Murrin Murrin and Nova — with the value of Australia's nickel exports expected to more than halve to $1.4 billion this financial year.

    The Office of the Chief Economist forecasts it will fall to about $500 million in 2025-26.

    The question now is whether the closure of BHP's Nickel West is the death knell for the WA nickel sector."
    Meanwhile, I can't help but recognise a familiar pattern in RXL's trading. It reminds me of how the share price of another explorer (in which I had shares some years ago) with more than a million cheap-to-mine ounces of gold was endlessly "restrained" before the company was snapped up in a hostile takeover.
    In RXL's case, I suspect the "restraint" is more likely about a move to significantly increase a shareholding at a bargain-basement price than an actual takeover, but with ...
    1. The gold price reaching record highs;
    2. The recently announced surprise (?) changes to RXL's management team;
    3. The opportunity for an entity with the necessary financial clout to fast-track RXL to an FID while gold is running hot;
    4. The sudden increase in RXL's daily trading activity, etc. etc.
    ... we MAY soon be in for interesting times.
    Then again, I stress this is purely my conclusion and in no way am I qualified - or wish - to give others financial advice.
    Either way, I'm in it or the long haul and continuing to add to my holding as and when the cash becomes available and the SP dips.

 
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Last
29.5¢
Change
0.000(0.00%)
Mkt cap ! $216.1M
Open High Low Value Volume
29.5¢ 29.5¢ 28.5¢ $282.5K 965.6K

Buyers (Bids)

No. Vol. Price($)
2 101762 29.0¢
 

Sellers (Offers)

Price($) Vol. No.
29.5¢ 117116 2
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Last trade - 16.10pm 20/06/2025 (20 minute delay) ?
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