Share price looks a bit healthier this morning but still weighed down by having too much Copper , Gold ,Iron etc. Compared to OZL and its Prominent Hill mine . Hillside has far more accesible and proven copper at open pit extraction method as well as available infrastructure and the community and farmers on side with the project but Rex is bobbing up and down waiting for the Directors to make far more positive statements about its future.Mr Olsen is very proud that Rex Minerals mine has 100% ownership which is very commendable .I dont think the top 20 shareholders are willing to finance the entire project and that would be far too high of a premium too pay if the $800 million figure touted is correct.So Rex is at a stalemate for the time being and this could be like this for some time yet. The Pre Feasability study may get things moving. I would be far happier to see the Price Graph level out a bit instead of its constant 45 degrees direction south for the last 7 months. Maybe 70 cents is the stabilising price now as its been around that level for some time. We have all the possibilities to make this Project a boon for the State of South Australia so we need a push by someone that can see the potential and the future for Rex Minerals.
RXM Price at posting:
73.0¢ Sentiment: Hold Disclosure: Held
