Could this be the start of $7 copper? RXM Richard Lauffman discusses the latest on the copper super cycle., page-2

A really interesting summary of the leverage Rex has to copper and well worth watching

key points

• Last time copper was at these levels Rex had a market cap of $470m
• In todays cap structure that would be $1.25/share
• When Rex had that $470m market cap they had half the resource and no approvals
• Since then they have added value by increasing the resource, receiving a mining licence and obtaining environmental approvals
• The investment in Hillside to date is $150m to drill that resource, complete DFS and get those approvals
• THE NPV IS OVER $1B OF THE COPPER PROJECT
• FOR EVERY 25C INCREASE IN THE COPPER PRICE IT ADDS 42c/SHARE IN NPV

For those that want leverage to copper and don't want to take on discovery risk (Hillside already drilled), approvals risk (Hillside already approved) and sovereign risk (Hillside is in South Australia) ..... Then Rex looks pretty interesting in this market

Plus there is exposure to a 1.4moz and counting Nevada Heap Leach gold project called Hog Ranch. This project as a small scale starter mine has AISC of US 902/oz which is lower than Newmont, Barrick, Agnico Eagle, Goldfields and every Newcrest mine with the exception of Cadia

DYOR
GLTA