Rex Minerals (ASX:RXM) launches $50m placement

• Materials stock Rex Minerals (RXM) launches a two-phase placement to raise $50 million
• The money will be raised through a $5.3 million unconditional placement and, subject to shareholder approval, a $44.7 million conditional placement
• Approximately 166.7 million new fully-paid ordinary shares will be issued under both phases of the placement at 30 cents each
• Rex will use the money to fund pre-development activities at its Hillside Copper Project and continue exploration activities at Hog Ranch

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