My guess is the market is pricing in a low chance of coper project going ahead. In addition, they are pricing in an imminent equity raising, because rex is going to run out of cash soon-ish. On top of that the only tangible asset that is worth something that has been mortgaged off to the directors to secure a loan that charges 10%+ interest, which is 15x the current risk-free rate of 0.65%. Any proceeds from the next equity raising will go towards repaying that debt and the interest first.
I will just remind everyone that this company was given over $250m from shareholders and squandered it all.
News: Rex Minerals reveals promising scoping study for Bells Project, Nevada, page-31
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Last
44.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $340.7M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 44.5¢ | 44.0¢ | $1.407M | 3.175M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 44 | 9655240 | 44.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 3163470 | 14 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| RXM (ASX) Chart |