RXM rex minerals limited

It's the first time RXM has shown the UDFS as a presentation....

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    It's the first time RXM has shown the UDFS as a presentation. It's very impressive and I can't spot the flaws.
    the thing that stood out for me is that at this stage the P/NPV should be 0.4-0.45. Not 0.19. it leads me to speculate from all information at hand that the price for the JV interest will be in the 38- 45c/ share range should be.

    The thing that I wasn't prepared to comment on regarding the JV negotiating but now am given the clear indication there are several potential JV partners that underpin RXM's decision.

    - Usually the JV Partner will want something more for the deal. Viz. if I take up 25 % and it's a minority nters ti will a pay full price to ge tthe junior interest I want a clause in there that says if there is a T/O offer I a preference to get to match it or to go to 51%.

    That was in place in the IGO sale of Tropicana to Regis but Anglo didn't wnat to go to full ownership. Same in the Frogs Leg deal a long time ago now.

    I don't know what the trade-off of JV Price for Hilliside is going to be acceptable for RXM but if what they say about multiple JV offers. I'm salivating. In fact I couldn't help myself an bought (juts a few) more.

    All IMVHO.
    Last edited by arsenic: 13/02/23
 
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