The Importance of Context and Terminology - Nickel Results

So, here's my two (2) takes on the Nickel results we have not received.

Sure, there are some sprouting, believing (hoping) AP is some part time magician, and in between proving up a resource, making endless webinars and the undertaking the general goings on with being an MD while updating a JORC - he is magically doing deals with BHP (et al) for Nickel, and that confidentiality excludes RXL from continuous disclosure. I say no.

For me, I think the focus has shifted to gold given we have a building resource, and the Nickel can simply wait. Or.

I'm a big one for terms, and terminology used. Corporates have legal counsel for a reason, and they choose their words very carefully - and I hang on them. This also goes for continuous disclosure obligations, and complying with them - while not saying anything obvious. People a leopards, and they do not change their spots - they are habitual creatures.. IMO of course..

The webinar (disaster) today was what triggered my thinking, then reading the annual report, referencing the last - and previous announcements..

AP has been quick to dismiss discussion of Fisher due to time constraints in webinars, and has used this as a reason not to discuss it in the last two (2) webinars.. The ANN's have also been very devoid of anything related to drilling, or assays/timing. Why not speak of it?? My guess, because you may have to - or you may inadvertently disclose, given their is question time...

Previous webinar AP stated briefly RC was ongoing 2 on, 2 off roster, and has been for some time.

So, as I know some can attest - where are the results, it's been 18 weeks!

The difference between pending, and awaiting.

One is a verb, the other - used as an adjective.

Pending - the conclusion of
Await - to wait/to stay in waiting

Legal counsel. Remember that.

Cores from 45 tonne of drilling at Youanmi are pending, having been submitted into the lab for assay. They said that - a stupendous amount of cores are submitted - for Youanmi, and results are pending ..

The Nickel cores, as far as I can attest - are awaiting results from drilling. Nowhere has anyone mentioned/suggested or implied they have been submitted for assay, and are pending. If so, let me know where and holla - and I'll cop the loss of life this post cost !!!
We all assume they have been submitted.

Subtle, but very distinct difference in terminology and inference..

I don't believe the Nickel cores have been submitted for assay, given the log of Au cores already submitted/ the wait times - and the pressure that is putting on getting an updated JORC out the door. AP admitted this himself today. We have (IMO) also been more successful than even RXL thought they would be, and I anticipate they have shifted priority...

Or. There is nothing to report from the Nickel drilling results (this is a second, distant opinion). There has been nothing - no new information or data (read the disclosure statements), which has been known, which has materially affected the current (known) Nickel resource; hence there is nothing to report. I.e. - we still have the Nickel we know about, and it has not disappeared..

I go with my first theory - cores from Nickel have not been submitted to the lab for assay, and they told us that - many may weeks ago, complying with their continuous disclosure obligations.


Not that it bothers me, I'm in for Gold and Nickel can come in due course. I await the outcome!