how to use the $750mill, page-18

RXM is running a little late with their maiden reserve statement, which was expected in 2012 ("reserve pending", p 31 of their October presentation). This will present a new catalyst for RXM, and for OZL to have a renewed look. The RXM BFS is expected by 1H2013- several months away. RXM has a market cap of $127m, with probably about $50m cash at bank now. The share price is interesting- moving between low-60's and high-60's, but looks on a slow upward movement- now with mid-60's more a base (low 60's is good value, I reckon). The Chairman's address in Nov 2011 was interesting- basically a plea, imo, for suitors to look locally, not to far flung places.

As an aside (but crucial to OZL's share price), when is OZL due to report its production output? Report due in January?