@ Jongerd, IMO ! Can't relate in situ mineral values to MC's....

@ Jongerd, IMO ! Can't relate in situ mineral values to MC's. For example how much would a billion tons of copper mineralisation,with a substantial in situ value, be worth if the cost of extracting every $1 was $1 and 1cent? Of course the deposit would not be worth mining! What would the MC be worth? Theoretically zero! Presently RXM is an example of this. RXM's MC is about $16m , the in situ valuation might exceed $15 billion but since RXM couldn't be mined profitably [they haven't a hope of getting finance at this time] it's nonsense to reckon RXM is grossly undervalued. I suspect that this is a rather cunning ploy by our valued directors to pull the wool over the eyes of long suffering share holders [of which I am one.] IMO in the current commodity cycle RXM is merely utilised by the board as a gravy train. All they need to do is sit back and collect every time they pass "go"! This company has been shafted by a series of perfect storms ,some of which the board had no control over. however in the last couple of years there has been no attempt to economise. Why give expensive consultancy jobs when there is nothing to consult about? RXM may become viable if a prolonged period of copper demand occurs but currently , even in a simple open cut situation , a 0.20 equivalent copper grade cut off looks a trifle optimistic, but it makes the tonnage look impressive! Malamu, I believe you were a big share holder when RXM was running ahead. I hope you managed to avoid the carnage. Best of luck to all!