Thanks for presenting your UG/ open pit thesis again although I...

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MrAu

4,102 Posts.

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23/10/22

19:15

Post #: 64346952
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Originally posted by Corgi: ↑

Response just about every reader will agree with

1. where do you see sp by 30th November ? Stagnant to Down

2. if your gun financier banker passmore has the confidence in his own abilities and work to progress rxl to early mining, will he exercise his 4 million shares end November? Ofcourse not

3. how will he raise 99 mill to start construction? There are options outside of traditional finance. But you cannot bank on it and is a "believe it when you see it" moment

4.how will he raise 35 million needed and at what price before mining construction? Typically, equity would need to be raised. Given the poor market cap of RXL and all other microcaps, the only option is a rights issue to all shareholders. i.e. Dillute the SOI by 100%-200% depending on the discount and will need the raise underwritten. There are also other options other then equity raise but again, a "believe it when you see it" moment

5. will he dilute and do another consolidation before production? Maybe

6. what does passmore’s “near term mean” 2 3 4 5 years from now? 2 years

7. where do you see sp with all the required capital raise 31/10/2023? The way inflation is trending likely lower. As i've shown above, funds don't like underground volatile projects. They are loading up on the low aisc open pit miners and dumping the problematic underground miners.

8. will Hawkes exercise their options at $1.05? Nope

9. Will you buy to average down and at what price? Any buyers of microcaps at the moment should invest with the expetation of never seeing their money back again and be willing to stomach that for the chance of RXL being able to pull things off in 3-5 years time. So basically, don't trade the microcaps!

10. have you spoken to hunt/ passmore last 4 weeks? What they say cannot be trusted as they flip flop & pivot from their strategy regularly.

Had their plan been to monetize Graces things would be less concerning and in the interest of the large retail SH base. The fact they are pressing forward with AP pretending to be a mine builder does not instill confidence and brings forward the following
Dillutive CR at all time market sentiment lows
Into a rising cost environment where just almost every underground mine is incurring massive cost increases from wage price spirals, labour/trade shortages, plant/machinery shortages and bad productivity from the workforce
Everyone knows underground projects are 10x more complex then open pit. It's much easier to contract out open pit mining services and most are just machine/vehicle operators. Simple cookie cutter stuff. Blast and truck, blast and truck, blast and truck
The current trend is that Large/mid scale open pit projects are killing it. compared to underground projects blowing out

GOR STRONG Q3

PRU STRONG Q3

There are still opportunities in the market. Just pick your Large/Mid Scale Open Pit miners or exploration Projects.Again, there still TAKEOVERS HAPPENING AT STRONG VALUATIONS IN THE MARKET BUT THEY HAVE MAINLY BEEN FOR OPEN PIT PROJECTS.
DYOR People. You will see

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Thanks for presenting your UG/ open pit thesis again although I did get it the first time. Just responding now to confirm that I'm sure everyone understands your argument and additional renditions are unnecessary
RXL Price at posting: 18.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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Last 16.0¢		Change -0.008(4.48%)		Mkt cap ! $62.87M

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