VIDEO: Rex Minerals Richard Laufmann interview with TMH, page-12

I might be a bit biased cos I’ve been here since pretty much the beginning and had been continuously disappointed . in addition to what adavid said, you have to remember that this mine was supposed to be up and running 6-7 years ago. They also had over $300m from shareholders and spent it all before they even got a feasibility study. When the original feasibility study came back mediocre and the project had to be cut in half (the recent doubling is just a reversion back to the original plan). If you need specific examples attached below is an extract from the 2018 cap raising preso. The capital was raised at 11c. Do you know how much of those were delivered with the funds they raised? The answer is the big fat doughnut. These guys got lucky with hogs had additional gold reserves and the macroeconomic made the cu prices skyrocket. But let’s not kid ourselves into thinking that the recent rally has anything to do with whatever management did - it was mostly luck.

I still think the asset is undervalued. But I think the history of capital miss allocation is what holding the prices back. I can’t think of anything else that could cause the share prices to continue to be depressed after one good announcement after another and other. Just my opinion.