The material facts used in this post are taken from an article...

The material facts used in this post are taken from an article by the Australian Newspaper, 16th September , Stephen Bell reporter in respect of comments of Steve Olsen at a field visit of the Hillside site .

Steve Olsen:
The "complexity" of Hillside makes it hard for Investors and other companies to value Rex Minerals and because of this Rex is unlikely to be a takeover target.In the earlier part of the article he stated that 10 million tonnes of cover could be mined to extract 60,000 tons of copper per year.On current resources what has already (100mt = 700,000t copper) been stated that would give it a mine life of 10 years.

Rex is looking for a much bigger resource than the current figure of 700,000t possibly four times that figure as they intend to spend $20M over the next 12 months with further drilling and their target could easily be achieved. Now there is a strike at Parara and in earlier reports , Parara had a much larger magnetic zone than Hillside.

Never the less on what is known to date Rex Minerals could have an income of $150 million dollars per year after production costs .

60,000 tons converted to pounds x 2000 = 120,000,000 millions lbs @ $1.25 ($3.75 less production costs $2.50) = $150 million after production .

That figure does not include Gold and other minerals nor does it allow for the JORC increasing four fold and the Parara find that in time could be much bigger than Hillside. I have not mentioned Whitecliffs yet or the other 60 Kilomters of the Pine Point Copper Fault still to be explored.
These are my calculations and research and in no way am I an expert. The calculations convince me to hold my modest investment in Rex Minerals as I have bought them as a long term holding for my two lovely grand daughters .
In the mean time though I am getting the satisfaction in seeing the Rex Minerals story unfold.