At the moment the entire small cap explorer space is down. RXL should have a natural rebound when the sector bounces, which I believe will be soon.
There have been comments here about the dubious quality of Youanmi, however, the same posters reckon that Robert Ryan is an outstanding mining executive. RR has already made it known that he thinks that Youanmi is an outstanding asset, has bought RXL shares on market, and has also stated that he believes that the Scoping Study can be improved upon. In a good price of gold environment we could be sitting on a $500m+ NPV project.
Takeover activity always baffles me as I often wonder why an acquirer did not jump 6 months earlier at a price 40% less? The fact that an entity has not jumped yet does not mean it will not happen.
My view is that the RXL shares price will be closer to $0.40 than $0.20 in the near future. Retail investors often seem to be most reluctant to buy shares at lows but I believe in the buy low sell high principle and I see the current price as being at a low that we will never see again.
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