Who is going to get a bargain!, page-507

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Isladar

1,349 Posts.

181

02/02/23

14:14

Post #: 66032384
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Originally posted by Jongerd: ↑

"The bell is ringing and I am picking a complete take over! They could swallow RXM for 300 million, spend 700 million on a plant and be in business."

I am wondering what $300M would buy - Hillside only maybe?

If Richard Ls optimism for the Hog becomes a reality its value alone might well exceed $300M?

In addition to the Hillside leases Rex has maintained its hold over 9 Moonta South leases totalling 2235 square kms. The Hillside leases only represent 1.5% of Rex's total Yorke Peninsula leases. I also wonder if there might not be one or more additional "Hillsides" waiting to be found in the the other 98.5% of Yorke Peninsula leases?

Wiser heads than mine will no doubt point out that no "deposits" exist until they are proven but I can't help remembering being told at the Moonta Mining Museum that Moonta was once the largest copper region in the British Empire (and back in those days that Empire covered a lot of the globe) and that Moonta Region mining only stopped when the copper price fell. Hence I assume that there must be some value that can be attributed to the old Moonta South leases as the technology available to the old time miners would presumably have left a lot of copper remaining even in the worked mines.

I also assume that Richard L sees some value in the Moonta South leases as they have been maintained for years and some held by Rex since 2008.

I mention the above as I believe that while perhaps concerned about progress to date we should "keep the faith" in Rex to meet the Hillside program just outlined and hope they might liven up a bit in providing an up to date and significantly increased Resource Estimate for the Hog.

Go Rex (please!)

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Fastmarketshttps://www.fastmarkets.com › glob...Global copper greenfield investment falls short of demand outlook, experts say10/01/2023 — As the price of copper is predicted to increase in line with the shortfall of supply, large mining companies have taken to huge merger and........The BELL is Ringing. The noise is deafening as it gets closer.

Unfortunately Jongerd it does not usually work in the small investors like us, favour, unless there is more than 1 suitor.
Double what the price now would probably be all we would get. Any more would be a bonus. Fair value $1.00 ????????

RXM Price at posting: 27.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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