RXL 6.25% 15.0¢ rox resources limited

Dogsy, if you only had $10,000 and could use it to buy some...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 787 Posts.
    lightbulb Created with Sketch. 147
    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.
 
watchlist Created with Sketch. 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
Last trade - 16.10pm 15/11/2024 (20 minute delay) ?
RXL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.