The OFS outlines a robust project with an 11-year mine life for Stage 1. The Ore Reserve supports a significantly
longer mine life of 20 years. The Mineral Resource is substantially larger and, if converted to a Reserve, could
support a mine life of some 30 years. The company has completed a PFS on Stage 2 (details not released
publicly). We have assumed that Stage 2 will be executed and will begin production in FY2032. The project also
has strong exploration potential.
FID is targeted for mid-CY2024, and RXM is only looking to introduce a partner if it will enhance the project’s
value. We assume that RXM will sell 40% of the project for 75% of RXM’s NPV valuation of Stage 1 (allowing the
partner to participate in Stage 2 upside) and that, going forward, RXM will own 60% of the project.
Based on the existing Ore Reserve and using the production profile defined under the OFS as well as our own
assumptions on the Stage 2 project, we model a combined mine life (Stages 1 and 2) of 25 years. Given the
scale of the existing Mineral Resource, further mine life extension is probable at Hillside; however, we have not
taken that into consideration in our valuation of RXM.
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Last
25.5¢ |
Change
-0.005(1.92%) |
Mkt cap ! $195.8M |
Open | High | Low | Value | Volume |
26.0¢ | 26.0¢ | 25.0¢ | $112.2K | 439.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 176540 | 25.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.0¢ | 331884 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 176540 | 0.255 |
18 | 660157 | 0.250 |
5 | 274000 | 0.245 |
9 | 290803 | 0.240 |
2 | 24222 | 0.235 |
Price($) | Vol. | No. |
---|---|---|
0.260 | 310908 | 8 |
0.265 | 58819 | 4 |
0.270 | 88000 | 1 |
0.275 | 144956 | 2 |
0.280 | 61439 | 5 |
Last trade - 14.57pm 27/05/2024 (20 minute delay) ? |
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Last
26.0¢ |
  |
Change
-0.005 ( 1.96 %) |
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Open | High | Low | Volume | ||
25.5¢ | 26.0¢ | 25.3¢ | 291958 | ||
Last updated 15.00pm 27/05/2024 ? |
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