Dogsy, if you only had $10,000 and could use it to buy some second hand diamond rings at a bargain price that you could sell quickly and make a good profit on, or alternatively you could buy a whole lot of rocks and sand and go into the landscaping business and make money over an extended muti-year period, what would you choose?
Fact is that DRM really was facing financing issues last year. Andy Well was losing money even though it held deeper ores with potential, provided they could find additional ore to feed into the nearby plant to make it economic. So they mothballed the mine but retained ownership for future activity. Gnaweeda is providing enough prospects to keep going and fit it in with Andy Well. Deflector too, was not returning much profit and needed investment to reach higher grade ore in the near future. Then along came the Da Vinci lodes. Fantastic grades but more millions needed to develop a mine there.
Now contrast the above with Mt Fisher which required a long term commitment to RXL to find ore and produce from it, even if early indications said it was worth pursuing. DRM could not afford to do both. Mt Fisher is like the pile of rock and sand. Deflector/Da Vinci is like the diamond rings.
Andy Well/Gnaweeda were able to be put on slow burn at small cost and no outstanding commitments to another party in doing so.
DRM is in a better space now following a cash raising but still has a lot to do with Deflector/Da Vinci.
If you can find documented reasons why DRM ditched Mt Fisher as a hopeless case then I am certainly interested to learn of these. You could begin by searching the DRM threads on this site.
Please don't bother replying unless you have some actual evidence.
- Forums
- ASX - By Stock
- Ann: Rox to Unlock Value of Mt Fisher Gold Project Through IPO
Dogsy, if you only had $10,000 and could use it to buy some...
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RXL (ASX) to my watchlist
(20min delay)
|
|||||
Last
15.0¢ |
Change
-0.010(6.25%) |
Mkt cap ! $57.48M |
Open | High | Low | Value | Volume |
16.0¢ | 16.0¢ | 15.0¢ | $181.7K | 1.175M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 467205 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.5¢ | 103377 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 6539315 | 0.008 |
15 | 12069642 | 0.007 |
5 | 2958583 | 0.006 |
5 | 3098180 | 0.005 |
3 | 1255003 | 0.004 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 1924318 | 1 |
0.010 | 1406625 | 6 |
0.011 | 888479 | 5 |
0.012 | 621646 | 2 |
0.013 | 1000000 | 2 |
Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
RXL (ASX) Chart |