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06/06/21

11:15

Post #: 53674556
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Originally posted by dhc.mvltd: ↑

Thinking about how slow RXM are with moving toward production have been a little worried about the risks of Cu price sliding in the interim.
Have been wondering about how far the price of copper has to run as a cap on how things turn out yet for Hillside. Found this article quite interesting

https://www.mining.com/web/coppers-spike-stirs-alarm-over-another-rush-to-find-substitutes/

If Cu substitution is not going to kick in seriously until we get to USD$12K per metric tonne and lets expect there will need to be an over shoot for the short while where the change is being made, the the current USD$10K circa price still has plenty of room to run, as the supply squeeze continues to grow. And with Aluminum surging there is also the case where demand for Aluminum just saps up Aluminum supply and current Aluminum price increases prevent substitution of copper with slowing growth of Cu/Aluminum ratio. Very hard to not be excited by RXM Hillside development if they can get it moving, which will only be the start with multiple stages and unlimited blue sky in close proximity already well defined. Time to accelerate finding some money and getting things going. Am sure CEO wants the same thing, but also will be torn with wanting risk exceptionally valuable time and money proving Hog Ranch up a bit rather than risking selling off the golden egg! AIMHO DYORGLTA

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Looks like another pole and pennant forming in the copper spot price chart. The pole height suggests a move up to $4.80 and the flag length suggests the breakout will start in the next few weeks.
With gold price creeping back towards $1900 overnight as well, we may see a reversal in the recent slumping RXM share price.
Some good drill results fro Nevada wouldn't do it any harm either.

RXM Price at posting: 36.0¢ Sentiment: Buy Disclosure: Held
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