Bouncing off its base and continued it's trend up the channel....

Bouncing off its base and continued it's trend up the channel. RXL is in the righ sector, gold and nickel. Gold is bullish and nickel price is still climbing.

RXL is in the right area, Penny West. Gold is mainly found in THE shallow surface and thus low cost and economical to mine. Plenty found at Pennys, Grace and now Taylor's reef.

RMS is now in the area, doing an excellent job on SPX and making plenty of money. It's share price has almost double since the acquisition of SPX funded through cash and RMS 's shares. It would probably like to do the same with RXL and VMC, through payment of some cash and the rest in RMS' s shares. It will then be a win win for all the shareholders. RXL 's shareholders will maintain its interest in the area by holding RMS shares.

Alex will have to defend a takeover by increasing his shares in the company if he is not interested in RMS likely offer.

I am buying some more for future M&A activities and my timing, I believe could be spot on. If management is not interested into becoming part of an ASX 200 or ASX 300 company and go it alone, we need to have a stronger share price. Buying interest appears to have increased recently.