Thanks for raising that question. i think it was THE question everyone wanted answered.
I might be reading into Richards answers too much, but he said that they have to "answer various departments' questions and get some waivers". I'm not sure whether i heard that correctly - my line was not great. It seems to me that they still have quite a bit of work to do still.
overall:
the copper story Richard painted makes sense;
rex's initial mine financials make sense (every 10c/lb increase in CU gives Rex 26% increase NPV);
the potential for additional copper findings is huge (10m to 15m tone vs current 2m tone found);
future debt funding in a low interest environment should preserve existing shareholders' value...
However, as someone else here has pointed out - none of that will matter if they run out of cash... $1.6m of cash at the end of March
I hope this placement goes through.
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