Future For Rex Minerals, page-72

I remember Richard saying in a conference presentation a year or so ago that Hog's Ranch was supposed to be an easy project which could be actioned with minimal equipment and cost, to bring in some welcome cashflow while they worked on the final stages of the main show -- copper in South Australia. I had visions of some blokes with picks and shovels, a Minelab GPZ7000 or two, and a sluice (okay, perhaps a bit more than that ).

I can't understand if the delay is due to incompetence (bad) or that we've got something far more valuable and substantial than first thought (good).

The copper price isn't helping Hillside. Nevada --- it would be great to know management's strategy. Are we trying to develop it ourselves; or with a partner? Sell it? Mothball it for the time being? Raise money for more exploration? Where are we going with this?!

We had the $8m cap raise / dilution which was seemingly to tide us over for a couple of quarters until FID on Hillside. Fair enough. But as a poster wrote yesterday, we're paying the board's salaries and there's a split focus. Hopefully there is some grand strategy and plan being worked towards which hasn't been fully explained yet.

The AGM on 28th November should be interesting. Pity it's in Melbourne (if you're not from Melbourne, that is). Hopefully it's uploaded in full. From the Rex Minerals website:

Questions at the Meeting
Only Shareholders or their proxyholders, who have been verified before the Meeting, may ask questions at the Meeting.You can lodge a question for the AGM by email, marked to the attention of the Company Secretary, at: [email protected], Shareholders can submit their question online in advance of the meeting via: www.investorvote.com.au

I reckon I'll send a question or two through of my own.