My observations are these: They have raised capital at a time...

My observations are these:

They have raised capital at a time other juniors cannot. The simple reason for the ease that were able to do this was the quality of their projects. It is very hard to think of another junior where each and every project they are working is in the process of becoming a company maker. It gives you so many more options.

The drill outcomes are not just good they are outstanding. If they need another JV it wont take long and moreover on their terms.

Juniors who have raised capital are spending it carefully as they never know whether they will get another opportunity in this market. RXL can and are aggressively drilling with the knowledge that their is a high probability each hole will and is a winner. In other words there is a low chance they will piss the money up against the wall. Wet spinnaker stuff this.

My only and the only negative is the shares on issue. No big drama but soon or later they will probably recon the stock. I would. squeeze out the idiot traders and get more share price appreciation when news is released. And the cost of capital will fall. But this is a class management. My bet is they will do it when they are drowning in good news and the market wont give a toss. Well except the traders.

On a lighter note, I cant help wondering what better news the sellers on the sell side want to stay in. But we cannot all be right otherwise the ASX wouldnt exist.

Flux