I have not been following the RXL story for long but this deal looks to be a shocker!
RXL management are valuing its 30% interest in the Reward Zinc project at 14.8 million, yet Teck paid 15 million earn in for an additional 19% interest (51% - 70%). How does that work when the success of recent resource upgrades "WORLD-CLASS Zn-Pb RESOURCE AT TEENA" has reduced the risk and therefore should have increased the value of the project?
Also in this deal RXL shareholders are to have 50 - 60% of the issued capital of IM Medical, sorry but IM Medical is not worth a cent and don't own anything of potential value so shouldn't RXL shareholders end up with a far greater portion of the ownership of IM Medical.
Happy to be enlighten by others!
I have not been following the RXL story for long but this deal...
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Mkt cap ! $57.48M | |||
| Open | High | Low | Value | Volume |
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