Australian (ASX) Stock Market Forum

RXM - Rex Minerals

Jump to new
Re: RXM- REX Minerals

nunthewiser said:
LOL yep i distinctly recall at least 4 using Olimpic dam to add to there headlines :) lol only thing is i cant remeber who now ... by the looks of it nor does the market :)

tell you what tho .RXM sure is getting ramped around the various forums/chatrooms at the mo

i DO like there market cap to be honest and definately leaves a lot of room to move up IF they can prove up anything

trade the moves in the meantime

blessem
Click to expand...

I've never traded with a cap so small. Isnt it had to get any volume and therefore sale of a decent amount of shares? Unless of course theres great news like now and it goes through the roof after you've taken your long position.
 
Re: RXM- REX Minerals

nunthewiser said:
LOL yep i distinctly recall at least 4 using Olimpic dam to add to there headlines :) lol only thing is i cant remeber who now ... by the looks of it nor does the market :)

tell you what tho .RXM sure is getting ramped around the various forums/chatrooms at the mo

i DO like there market cap to be honest and definately leaves a lot of room to move up IF they can prove up anything

trade the moves in the meantime

blessem
Click to expand...


There is Argonaut Resources (ARE) ... which has the Lake Torrens tennament with a potential IOCGU deposit just 75km from Olympic Dam.

This tenament was originally owned by WMC (discovers of Olypic Dam), and was supposedly the preferred site for drilling based on magnetic and gravity anomalies, but got overlooked and bogged down due to EPA and Native Title claims.

And ARE is trading at 8c per share with about a $13 market cap, and with about $8m in bank, a nickel/gold play in Laos, a near JORCed zinc/copper play in Kroombit QLD, and a free carried JV with SRL for the Torrens Drilling.

And RXM has a market cap of $17.5m at 45c per share.

Can argue that RXM is at least drilling its IOCGU target, whereas ARE's drilling via SRL has been temporarily stalled with another nuisance Native Title claim.
 
Bought in at .43 and watched it rise to .65, was too slow( and greedy perhaps) and am still holding. My question is to anybody out there,do you think there is a further upside to the share price,as the media reporting has gone significantly quiet as compared to a few months ago. Would appreciate any comments.
 
Looks like we are bouncing under the first support level with rising copper price, plenty of blue sky for a break upward towards 59c where there is selling resistance and a second level of support/resistance in the chart :2twocents
 

Attachments

  • RXM.jpg
    RXM.jpg
    38.6 KB · Views: 203
Has played out as may be expected with the strong copper price - looks like closing at 56.5, probably shouldn't go past 59c unless the copper price moves again, but who knows?
 
Has now broken 59c on today's announcement. More good copper intersections and some very high grade looking drill intersections in the photo - to be reported in August, watch this space.;)
 
Well now, :)95c, that was blue sky I saw. Now I'm guessing we'll see a retractment to 70-75c or support form around $1 depending on the tenor of the copper grade in the 'August Drilling Announcement'
 
200m @ 1% Copper. That would be very good news in anyones book. Looks like we are headed for $1+ as a new support level on this news.:2twocents
 
doogie_goes_off said:
200m @ 1% Copper. That would be very good news in anyones book. Looks like we are headed for $1+ as a new support level on this news.:2twocents
Click to expand...
Great intersection, wish I had have been watching more closely. Was for some time but took my eye off the ball. Nice work doggie!
 
Closed at 1.40 - great day for holders I wish I hadn't dumped half of my holding at 95c.:eek:. Oh well, profit is profit.
 
New results from Hillside Project:

o 151m @ 1.5% copper and 0.3g/t gold from 275m in HDD033W1
 Including 52m @ 3% copper and 0.5g/t gold
o 57m @ 1.4% copper and 0.2g/t gold from 158m in HDD034

Outstanding intervals with very good grades.

Disclosing: Still holding a few.
 
doogie_goes_off said:
New results from Hillside Project:

o 151m @ 1.5% copper and 0.3g/t gold from 275m in HDD033W1
Including 52m @ 3% copper and 0.5g/t gold
o 57m @ 1.4% copper and 0.2g/t gold from 158m in HDD034

Outstanding intervals with very good grades.

Disclosing: Still holding a few.
Click to expand...
Doggie, what's the true widths?

I hope they're not just drilling straight down a 150m line fault that's a couple of meters wide.

Surely not.

Details?
 
True widths look to be ~1/3 to of the quoted widths on section. Increase in grade down dip on the upper lens is good news. Scissor holes are legitimate unless every hole is drilled the same way. There may not be huge tonnes here but we are looking at acceptable grades very close to potential ports. The deeper intersection fom the wedge hole is good too as it shows the mineralisation does not stop at depth.
 
Are there any chartist types that would like to have a go at seeing if this stock is overbought?? Is there such a thing whilst it is still going up??
 
Rex is quiet here and just came on the radar from fin review article today.
Resource exploration is looking very good, and SP now just over $2.04.

Sandfire has been moving along quite solidly due to their drilling success (Degrussa) and OZL has taken a 19.9% stake, since watered down by an inst. share placement.

Does anyone have much knowledge on RXM and their potential as a target for OZL since they have been somewhat blocked with Sandfire...?

I note RXM are in the same general location; will check their current resource size. OZL still has a lot of cash of ours sitting there, they will be looking at moving it relatively soon, has been so long since the capital raising!
Interested in thoughts...
 
Just dusting off Rex Minerals. Barry Fitzgerald was on the money, when he made the comments it was sitting at around 30 cents late 2007. Did not stay with it as I ws stopped out. Would have been a great long term hold as today it is $2.20

Must have another look.
 
anyone watching this company? :confused:

although rex's Hillside grade is not as fantastic as sandfire's DeGrussa
it still has infrastructure advantage for being closer to the surface and close to a port town, Ardrossan
on December, they announced inferred resource upgrade of ~70% from July result

seems like rex has good prospect
opinions?

NB: I've just started trading 1 month ago and keen to learn :D
 
Yep, been watching the company for a few months since I heard the MD present at the Melbourne Mining Club last year before it took off on its run. RXM is the archetypal one that got away. The MD said all that he could say within the bounds of the law and the ASX listing rules to hint that the results for RXM's projects would be massive and, sure enough, they are.

I'm somewhat surprised that Oz Minerals hasn't yet tried to buy out RXM. Their tenements are basically next door to each other, Oz Minerals' mine life isn't that crash hot and Oz Minerals is sitting on a big pile of cash.

Even RXM's spin-offs have been performing well - White Rock Minerals is the spin-off from RXM to further develop the gold resources in NSW.
 
Yes, its got me beat too why OZL havn't made a move to acquire RXM.

Can only conclude that either:

- They've been rebuffed by RXM management and don't want to risk another situation like the Sandfire one where they have 19.9% but have been denied board representation.

- The near-death experience of a couple of years ago has left them totally risk averse.

Whatever, I like RXM and their prospects but I've missed the bus so far and the SP is getting a bit rich now for my liking.
 
Top