So RXL only had 1.1 million left mid year after purchasing FE tenement rights. They are air core drilling at FE, have plans for infill and extension drilling at FE later in the year and have an RC program at Bonya planned.
They will need to raise more money very soon by the looks of it. Ink hasn't dried on the paper work from the last raising.
Good projects but a terrible environment to raise money in leading to massive dilution. I would have thought they might scale things back a bit to preserve cash and reduce investor dilution?
A sale of the other 30% of Teena to Teck with a trailing royalty would solve the problem.
So RXL only had 1.1 million left mid year after purchasing FE...
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Last
15.3¢ |
Change
0.003(1.67%) |
Mkt cap ! $57.48M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.5¢ | 15.0¢ | $3.554K | 23.53K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 476755 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 246433 | 6 |
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| Last trade - 12.01pm 29/11/2024 (20 minute delay) ? |
| RXL (ASX) Chart |
