Ann: Chairman's Address for Shareholders General Meeting, page-11

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AChesterBeatty

189 Posts.

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15/09/21

17:44

Post #: 56091983
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Originally posted by Jongerd: ↑

Hi ACB and Stealth10,

Your posts trigger me to voice some thoughts previously held back with the concern of not having a mining expertise that would make a meaningful contribution to the debate. Your comments on the following would be appreciated.

My understanding is that the Rex share price will drift at least until until Hillside finance is secured or the Cu price goes through the roof or Hog Ranch Indicated Resource is significantly increased. Is the Hogs Ranch resource upgrade the best bet?

With the unpleasant assumption that there may be another capital raise some time in the future I am sweating on management's ability to up the share price significantly to minimise dilution to existing shareholders and wonder if with the current cash availability there should not be a greater concentration on the Hog Ranch drilling with say two rigs, one for "exploration" and one to "prove up" the Indicated Resource. I was disappointed that with expectations raised on the potential of Hogs Ranch there was not more "proving" of resource before the last capital raise.

Perhaps a little more information on planned activities and intentions at Hog Ranch might alleviate concerns?

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Perhaps a little more information on planned activities and intentions at Hog Ranch might alleviate concerns?

Probably a good question for the AGM. From what I'm reading the number one focus for the money is developing Hillside. And to be fair when I compare the size of Hillside with Aeris who are worth A$412M with only a couple of years ore reserves and and just over half the production then the minute Hillside is operating at the 35ktpa Cu and 25koz gold with 33 years of reserve then there has to be an immediate rerating.

RXM Price at posting: 28.5¢ Sentiment: Buy Disclosure: Held
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