can someone explain?, page-9

Reado and Forged glad you can both see what is going on. I am not trying to bag RXM. clearly they think they have a great project. They may have, but the management has a lot to be desired. This is my main concern, they seem to have got rid of one guy (CEO) who didnt have a clue for another one that is worse. One thing an ASX listed company gets points for is telling it like it is. What gets up my nose is these guys that run these companies that come out and say " we have the biggest untapped copper deposit in Australia" and then have no clue on what to do next.

The CEO of RXM, does nothing else but say how good his project is and then bag every other copper project in Australia. Together or a combination of his naivety then tells the market he has all these deals in place and the deals are made of clay and just start cracking. How can someone do a deal and claim to have a EPC with a company that is in suspension and then a couple of week later that company goes into administration. After all that they do not inform the market . That is my problem. The stock rose from $0.25c to $0.42 on the back of the announcement about the great deal they have done. Then when it collapseS they decide not to inform the market. You cannot do that if you are an ASX LISTED COMPANY.

What shareholders need to know is that they can sue the directors of the company for not making the info public and inform the shareholders that the announcement they made on the 4th June is not longer in force. Shareholders are entitled to know that the deal has collapsed. I think that the RXM directors have been very slack on this and deserve everything they get. It is not only the CEO that will be held responsible but all the directors.

We all understand that sometimes things don't go as predicted, this is life but as shareholders we are entitled to know. What I think of the project is now irrelevant , I have never liked it. The grade of Cu is less than that of HGO Hillgrove, It is in production and owns its plant and is trading at $0.06c. Yeah that's right 6 cents a share. Its grade is the same as RXM and RXM has to find another $1b or thereabouts. How can it be trading at $0.35c. In my opinion it has $0.02c written all over it. If im wrong someone tell me. Things just don't add up for this project. I just don't like to see people spruiking a project and not backing it up with telling its shareholders how it is. If there is something wrong with that then tell me. I am also happy to cop the criticism if there is something that I have said that is not real.

The fact is this: RXM MADE AN ANNOUNCEMENT. THAT ANNOUNCEMENT IS NOW DEAD IN THE WATER. WHY NOT TELL ITS SHAREHOLDERS THAT THIS IS THE CASE. One thing I can say about Hillgrove is: they have had a bad run, they admit it, the copper price hasnt been fair to them, the Aussie dollars hasn't been fair to them and they have tried very hard to make it work. In my opinion they deserve to be $0.35c a share and RXM deserve to be $0.06c a reverse of where it is now. At least the HGO guys have bitten the bullet and said ., :this is how it is" I give them ten points for that. In life you cant beat honesty. I think that the Hillgrove guys will eventually get it together and Good Luck to them,they deserve it. I am happy for deserving arguments.

RXM is going down the same path as AZG.