If it is what we all want it to be, here is the reality, and I'm excited and a holder but a realist.
Glencore is closing its copper business end of 2025. Smelter and refinery staying open until 2030 pending capital expenditure ( and one could assume govt assistance). Google it if you want. This deposit is in town. Yes an UG mine could be built (the honey pot starts at the approx the 300m mark) who processes it, and do 3 generations holding town blocks there want it. EHM mill currently toils 3rd party ore as the Concentrator is running at 50% because it was name plated at Open cut production rates and now the UG can't deliver those tonnes. Could go there...But the smelter shuts in 2030.
So new Concentrator and Smelter in the near future somewhere. Joint venture?
No power at present We at EHM constantly get load shed in summer due to not enough depth in Diamantina and MPS power stations to run the North West. Remember we are not on the national grid until Copper String Project becomes a reality. But speaking to property holders very near the rig, they are all excited to see the drill.turning near to them.
Food for thought.
RNX Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
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