Would envisage a very conservative value of no less than $3.80...

Would envisage a very conservative value of no less than $3.80 for RXM once full production has been achieved.

All RXM investors should remember that there is other satellite targets around the Hillside project. Notably Equis, Ethel and Port Julia prospects. The former site was reported in late 2011 in the media as being a more favourable proposition for RXM than Hillside.

As a result of the progress made at Hillside at that point in time, further drilling campaigns were not undertaken at Equis for no other reason than to advance Hillside to production.

The point of stating the above, is that RXM is not a single mine operation like Sandfire. It has a host of other prospects at its door step in which will be further investigated after the initial years of production is underway at Hillside.

The other advantage to RXM is that the port infrastructure that will be developed will also serve these other prospects. Hence, costs in bringing these prospects to production will be favourable to RXM.

Will be watching with interest the financial and/or partnership agreement that is established by RXM for Hillside and other prospective mine sites. The later may be just a simple inclusion for exploration funding to these sites for now.

This will be important to fend off any potential takeover plays for RXM in the mid term and enable RXM shareholders to realise the company true value. An international partner who will provide the financial and construction capacity to the project seems to be the likely outcome.

Assuming at the moment that this will be eventuating in late October and November with infrastructure construction to commence in January 2015 on the port an road ways.