It may sound like I am badgering RXM but will someone please explain something to me. The company that RXM have purported to be the EPC contractor for the $500m mine is Arccon which is a 100% owned subsidiary of ALLMINE LTD (listed on ASX as AZG.
The EPC contract issued to AZG for the $500m project. I have done a DD on the EPC contractor AZG. The company has a market cap of $11m. Last trade $0.003c and has been suspended since May 2013. IN ITS STATEMENT TO THE ASX it says "it has technical breaches with its lenders" I have rung RXM to talk to them about the contract and how an $11m company who is suspended from the ASX is going to complete a $500m project? No comment is what I get told.
Has anyone got an inside run on this? Can anyone from RXM please post on HC and explain to us how AZG is going to finance a $500m project construction? Also, how is RXM going to finance $500m project?. To borrow $500m will cost the company approximately $50m a year in interest plus costs of another $10m. I cant see the Working Capital costs of less than $75m a year for a 15mtpa mine maybe closer to $100m a year. OZ Minerals have 600 people in the open cut for 8mtpa and RXM are claiming double OZ Minerals throughput.
I am happy for the company to explain how they are going to do this considering their market cap is only $74m. RXM are going to need to borrow around $1 billion. Maybe I'm missing something. The EPC contract to note is Non Binding, so what does that mean. What is the point of a contract that is not binding? The last question is. If the $11m Market cap EPC contractor cant find $500m and RXM cant find another $500m for works and working capital, what is RXM going to do?
I believe that these are all fair and reasonable questions. Some people went to the recent presentation in Brisbane recently and said that the CEO skirted all of these questions and that the presentation was bland and without much transparency, mainly just, talk with no real plan or timing.... can someone explain?
- Forums
- ASX - By Stock
- RXM
- can someone explain?
can someone explain?
-
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RXM (ASX) to my watchlist
|
|||||
Last
45.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $352.4M |
Open | High | Low | Value | Volume |
45.5¢ | 45.5¢ | 45.0¢ | $505.2K | 1.114M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
26 | 14046512 | 45.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
45.5¢ | 1500441 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
26 | 14046512 | 0.450 |
7 | 1617778 | 0.445 |
12 | 241811 | 0.440 |
6 | 403970 | 0.435 |
6 | 138811 | 0.430 |
Price($) | Vol. | No. |
---|---|---|
0.455 | 1500441 | 22 |
0.460 | 1314580 | 20 |
0.465 | 1502172 | 10 |
0.470 | 3252466 | 23 |
0.475 | 1066900 | 6 |
Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
Featured News
RXM (ASX) Chart |