Who is going to get a bargain!, page-414

I ventured into Rex in 2012 on the advice of a geologist friend that the resource and its location were very likely to ensure development but over the years he lost faith in the ability of the Rex board and management appointments to progress Hillside. I assume the losses he incurred in selling out of Rex and buying into OZ Minerals have turned into nice profits.

I have stuck with Rex as another geologist friend was of the opinion that even "blind Freddies" should be able to bring Hillside, with so much going for it, into production and a plus in the longer term with Rex having a potential treasure trove of of unexplored leases on the Yorke Peninsula. I am now assuming that 2023 will be the year that puts paid to any concerns that "reach full financial close and move into the development phase" as expressed in the Nov. 2020 Chairman's address is now firmly set in the the 2023 Rex agenda.

I also remain a little excited about Hog Ranch. In Nov 2020 we were advised that in Rex's perspective "the Hog Ranch geological system which has the potential to match the scale of some of the world's largest known gold deposits". I will still be excited if the Hog Ranch only comes in as matching some of the worlds second largest known gold deposits.

Let us hope that any lingering concerns about the current Board's ability to deliver the full promise of both Hillside and the Hog are dispelled in 2023 with firm commitments for Hillside development and a significant resource upgrade for the Hog. If not, well that is something for some discussion in late 2023.