Ann: Rex enters non-binding Heads of Agreement, page-6

Lets not be too quick to but the nail in

I know it has been a frustrating ride, but the last time the copper price went to $3.30/lb in Feb/March last year, Rex ran up to 22c. ..... This stock is highly leveraged to the copper price and I suspect the copper price will remain a critical driver.

And with the proposed heads of agreement on the Nevada project, have a look at the calibre of the board for such a small company .... I reckon they probably know a few things about gold.

Perhaps a wait and see approach would be well advised before rushing to conclusions, after all, there is no done deal yet, they are doing due diligence. .... but it is welcomed to see the price starting to creep up on the back of the news despite the weak copper price

some info on mining and gold credentials of the board....
Ian Smith
Formerly MD and CEO of Orica. Prior to that, he was MD and CEO of Newcrest, growing the business to what has become Australia's biggest, and globally one of the largest, gold mining companies.

Ron Douglas
Mr Douglas is the Executive Vice President, Project Delivery for Ausenco and he has over 35 years' global experience in project delivery and resources sector management. His previous roles have included Global Head for Projects and Technology for Orica; Executive General Manager Projects and Studies for Newcrest; CEO of Australian Solomons Gold; Managing Director for Anglesey Aluminium Metal (part of Rio Tinto); and General Manager for Rio Tinto's aluminium and coal projects.

Richard Laufmann
Mr Laufmann’s most recent engagement was for seven years as CEO of Indophil Resources NL (until January 2015, an ASX listed company with a large copper-gold Joint Venture in the Philippines) - taken over and prior to that, five years as Chief Executive Officer of Ballarat Goldfields NL - taken over by Lihir Gold. Mr Laufmann also previously led WMC Resources Limited’s gold business as general manager – Operations.