The odds of making an economic discovery in greenfield exploration are at least 1:1000 to 1:2000 (not to good), so RXL are a bit better than a Great Pretender, with Fisher East hosting mineralisation of economic grade over mineable widths.
The question is now: Can RXL define sufficient tonnes (that hang together) to support a mining operation.
~5Mt @ 2-3%Ni eqv??
The announcement will hopefully be a good step in that direction, then we will again, hopefully see a rerating as per the companies who have had similar recent success (greenfield exploration discovery of an economically viable orebody - Sandfire and Sirius)
The odds of making an economic discovery in greenfield...
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