RXL

3.13%

15.5¢ rox resources limited

Yep if that Collurabie new acquisition can deliver anything...

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kates9999

14,254 Posts.

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17/01/17

08:30

Post #: 21936725
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Originally posted by good oil guy ↑

Cheeta
You're obviously not an analyst but if you've asked "what's going on with this stock", so as to make money rather than imply criticism, can I suggest that you:
1. read the Corporate Update of 15 December 2016;
2. reflect on what prudent management might do when in the process of completing a transaction worth about $20 million (which, btw, is more than the entire market cap of the Company) but which transaction which has some stress around it because 2 companies wanted to buy the same asset. (Remember the saying "walk softly but carry a big stick")?

Here's how I'd approach it:
Read the Corporate Update, which says:
* Reward sale - Rox will respond to Marindi's claim in due course. So, we wait for developments. I don't have a problem with that.
* Collurabie nickel-copper-PGE acquisition - expected to complete in early 2017, with drilling expected in 2017. Sounds good to me.
* Mt Fisher gold - heritage survey underway to clear targets for drill testing in 2017. Sounds good to me.
* Fisher East Nickel - drilling (RC and diamond) planned in 2017 on "several targets", including at 3 locations where nickel sulphides have already been intersected in aircore drilling. Sounds good to me.
So, quite frankly, it looks to me like the directors are on the right track, especially as there only 3 of them running the whole company. BTW, I see that the MD (Ian Mulholland) received (with 2 others) the AMEC 2016 Prospector Award. I recall Rox winning another well regarded exploration award in 2015 (re Fisher East nickel, I think).

So it seems to me to be pretty obvious that Rox would be working to complete the Reward sale to get $ so they can do lots of drilling this year, with their obviously highly competent exploration team. Sound good to me.

Ultimately I might be wrong with my stock choice - but at least I've surfaced the logic, for discussion, which I think works better than asking questions which seem to have a hint of a barb in them. Good luck with your holding.

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Yep if that Collurabie new acquisition can deliver anything decent for the price of $25000 that would be a pretty major win

RXL Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Last 15.5¢		Change -0.005(3.13%)		Mkt cap ! $57.48M

Open	High	Low	Value	Volume
16.0¢	16.0¢	15.0¢	$135.9K	868.2K

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No.	Vol.	Price($)
17	1088851	15.0¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
13	6539315	0.008
15	12069642	0.007
5	2958583	0.006
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Price($)	Vol.	No.
0.009	1924318	1
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Yep if that Collurabie new acquisition can deliver anything...

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Yep if that Collurabie new acquisition can deliver anything...

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