RXL , 5 drill rigs onsite, targeting extensions and shoring up reserves at their Youanmi deposit.
Hawkes Point number1 shareholder and are behind CMM and OBM, Mr Metallurgy Nathan Stoitis was recently enlisted to work on improving recoveries etc. Refractory gold is not the bugbear it once was especially with the current strong gold price. A 35000 metre program has been running since before Christmas with high impact Diamond Drilling targeting repeats of the original Youanmi lode. Phase 1 and 2 are already underway. RXL is well cashed up after the recent raise of 28 million dollars.
Being a layperson I have a pretty simplistic view of RXL and where it is headed. They currently have a resource of 16.2 mt at 4,4 gpt Au 2.3 million ounces including 546000 ounces of reserves which the current drill program will look to increase. The target for the current program is another 1.1 to 1.8 million ounces.
SPR have 15.9 mt at 5.61gpt for 2.86 million ounces of Au and growing
SPR MC 2.07 Billion RXL MC 123 Million
I think any decent success with he drill bit will light a fire under RXL.
