Today IVR, somewhat similar to RXL announced a CR for a lousy...

Today IVR, somewhat similar to RXL announced a CR for a lousy $2m at a 20% discount. Instos only, screw the retail investors. Dilution is massive. The SP dropped 18%. This is commonplace but holders of RXL do not have to worry about this happening to us. RXL must be the most cashed up gold junior on the ASX (or near the top anyway).
Not so long ago small cap nickel miner CZI sold out most of their stake to OZL in exchange for working capital. This is also very common but will not happen to RXL.
Alll very well to find a gold deposit even ones with the extraordinary high grades RXL found but can it be mined profitably. Looks profitable with Gold and nickel flying high but will mines continue to be profitable so in the future? One RXL project comes complete with comprehensive site infrastructure including a CIP process plant (requiring significant refurbishment) which was designed to treat 600,000tpa of oxide ore, a tailings disposal facility, mine offices, combined core shed and workshop, mine village, access roads and airstrip. Facilities at the village will ultimately require varying degrees of refurbishment to accommodate a full-time work force. This is a great start to a mine. CIP tech is still current, still viable and very effective.
All the other juniors not only have to raise capital to explore, prove up a resource and build a mine but they need all the complex licences associated with gold mining. But with respect to gold RXL already has a mine and will be extending and renewing licences not starting from scratch. That brings forward production by at least a year.