Ann: Company Update, page-152

All the expenditure is a tax deduction should a profit be realized in the year dot. RXL is trading at cash backing (give or take a knudge) & there $3.5m due in about 3 yrs so no capital raising for quite a while & the copper project may be off loaded as it stands or dressed up a bit with expenditure re drilling etc - the former is more likely from my take on the AMEC 'chat'

RXL is a big buy & the SP should be about 3.5c given the cash, the nickel deposit & a few 'cents' for the copper outfit.

A consolidation will occur sometime down the track in company with 'good news' - what do traders care about 'good news' as RXL is so undervalued it just ain't funny.

Buy RXL & get on the draw Arsenal V Manchester City