Ann: Strategic Placement & Accelerated Entitlement Offer Results, page-11

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entropylord

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18/01/24

22:36

Post #: 71953637
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Originally posted by desertredlion: ↑

We always hear that 'hope is not a strategy'. Yet that's all we can do after choosing (after lots of DYOR, to buy a stock). A bit like following one's favourite football team, I'm slow to buy a stock, and even slower to sell. I see myself as a part owner in the enterprise not a holder of X number of lottery tickets. The narrative has to change completely for me to get out. With Rex, I can't see that anything has changed (for the worse) since l bought 15 months ago. The reasons for owning RXM are exactly the same.

I held an ASX REIT in 2007 which decided shopping malls in Poland were a great opportunity and bought centres in Warsaw. What the....??!! Yeah, seriously. In hindsight, it would have been a great time/warning sign to get out! I see nothing outrageous at Rex Minerals. Just the same frustration as on every junior HC page.

It feels like the capital raising's *primary objective* (and I haven't read through it properly) isn't to raise money, but to allow the Indonesian sophisticated investor to take a meaningful stake in the company. And that the Rex board figured it may as well spread the offer a little further while it's at it and raise a bit more money while it has the opportunity. And the offer was the best way to get him onto the share register quickly and efficiently. I suspect there's a lot more going on than I, with my total lack of financial training and experience, could possibly understand. So all I can do is ignorantly and stubbornly stay the course.

Oh, don't get me wrong....I'm as frustrated as anyone! Totally annoyed. But that extends to every other junior miner/explorer in my portfolio -- all of which are double digit percentages underwater. All smallish positions thankfully.

If one takes the view that the copper price must and will go higher, and Hillside must and will be developed in the medium term, and one doesn't capitulate or get bored and flee now, the current weakness is nothing more than a buying opportunity. Provided it gets built/sold, that is -- and I think it has to. Or if Hog's Ranch is worth 16.5 cps (maybe it is. I don't know).

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But the Salim group isn’t just a sophisticated investor from Indonesia? Surely we are talking about Salim, the largest conglomerate in Indonesia?

RXM Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 44.0¢		Change 0.000(0.00%)		Mkt cap ! $342.8M

Open	High	Low	Value	Volume
44.5¢	44.5¢	44.0¢	$1.542M	3.483M

Buyers (Bids)

No.	Vol.	Price($)
42	13111127	44.0¢

Sellers (Offers)

Price($)	Vol.	No.
44.5¢	2091061	42

View Market Depth

No.	Vol.	Price($)
42	13111127	0.440
22	1771223	0.435
16	375430	0.430
8	403238	0.425
8	302768	0.420

Price($)	Vol.	No.
0.445	2091061	42
0.450	3174936	53
0.455	2880578	17
0.460	730945	18
0.465	1508622	12

Last trade - 14.58pm 05/08/2024 (20 minute delay)

RXM (ASX) Chart

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