A$20 billion dollars in ground metal value?, page-13

Rex is a leveraged play to the copper price. Market cap of $17m. $15m worth of land on the books. $4m in cash and a copper project thrown in for free that was once worth $300m. Copper currently $3lb. Back in 2011 copper peaked at $4.60lb. Do your Rex numbers on $4.60lb and see how much money Rex's project spits out!! It will be awash with cash.

Lithium and graphite gone mental on the back of batteries and the electric vehicle revolution. That ain't going to happen without a shed load of copper!! Ivanhoe Mines founder Robert Friedland in a keynote address to Mines and Money earlier in the year said 'You're going to need a telescope to see the copper price in 2021'.

Lithium run too hard for me. I am playing the 'electric vehicle' theme through copper, and my leveraged play is Rex.

Laufmann may have taken his eye of the ball when other people were running Rex and he was busy bedding down the $300m Indophil sale, but now he is in charge I am happy to back him (did ok when he sold Ballarat to Lihir for $300m and when he sold Indophil to local Philippine interest (after also nearly selling Indophil to Zijin of China).