sells victorian subsidiary

Fair enough.

Sydney - Friday - October 24: (RWE Aust Business News) - Rex
Minerals (ASX:RXM) has sold one of its subsidiaries Rex Minerals
(Victoria) for a total of $1,480,000 to a privately held company.
The sale of RexVic includes exploration licences and associated
assets that form the St Arnaud and Nth Creswick projects.
Rex has been actively exploring all its project areas to test
various exploration theories and advance each project towards the
discovery of new mineral resources.
But, strategically, Rex has decided to focus its exploration
effort on two high priority areas.
The initial focus is to follow up the successful discovery of
high grade copper mineralisation at Hillside and to take advantage of our
new understanding of the structures that host the copper mineralisation
on the Yorke Peninsula, South Australia.
Secondly, the company considers that the option to acquire the Mt
Carrington gold-silver project in New South Wales provides it with near
term development opportunities with existing shallow gold and silver
resources and the potential for additional high grade gold and silver
discoveries.
The sale of RexVic will also provide additional funding towards
the exploration of these key projects.