While waiting for the imminent PFS, I thought that I would...

While waiting for the imminent PFS, I thought that I would summarize why I hang on to my RXM shares. After all, watching this stock trade is painful to say the least. The volumes are low and the trades are suspiciously small.

1) Impressive resource figures:
2.0 million tonnes of copper
1.7 million ounces of gold
44 million tonnes of iron ore
Note: These figures are a few months old and they seem to be increasing by the day.

2) Hillside is in the top quartile of copper grade for new and emerging open pit copper projects. The global copper grade at Hillside is at 0.6% copper which increases to 0.9% copper at a higher copper cut-off grade. Weighted average of copper projects worldwide is less than 0.5% copper (without the by-product credits to be enjoyed at Hillside).

3) Proposed annual production figures (approx):
70,000 tonnes of copper
50,000 ounces of gold (in a copper-gold concentrate)
1.3 million tonnes of iron ore (containing over 65% Fe in a concentrate).

4) Discovery of a larger body of copper at the northern end of Hillside indicates that the Hillside project could have a mine life well in excess of the proposed 15 years.

5) Comparatively low capital and production costs due to open pit and location.

Of course the PFS will spell all of this out in detail and I think people will be surprised at the attractiveness of the project. Rex has naturally been out of favour lately due to copper price, AUD etc BUT in terms of project feasibility I believe that they are in a league of their own and the Hillside project will go full steam ahead producing heaps of copper in 2015...and if anyone thinks that copper will be this cheap in 2015 then they are dreaming.