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Rex Minerals (RXM)

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Barry Fitzgerald in todays Age cites a recent float RXM, a gold explorer, having personnel from the old WMC.

He is enthusiastic about its management and its four or five prospect sites are in potentially good areas.

Shareholders include LHG 12%, AVO 12% and Lion Selection 4%.

Not a lot of available shares on the screen so patience will be required to accumulate.

Because of the big player interest thought it may be of interest to other gold followers.

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  1. explod's Avatar
    Care should be taken till some volume (support buying) comes into play. From the tenaments a steady flow of information will start to come in Fitzgerald says which should be reflected in volume which is very low at the moment.
  2. moneymajix's Avatar
    Interesting. Cheers.
  3. kennas's Avatar
    LHG as in LGL?

    And AVO?

  4. kennas's Avatar
    Looks like they have just bought the handmedowns from BGF (LGL), AVO and Lion and that's why they've got such large holdings. Pretty spec at this stage. A few gravity anomalies.....
  5. explod's Avatar
    Yes LHG v LGL dies hard as I have followed it so close for the last five years but very little since the code change.

    I think taking on BDG was a big ask and I have also developed an aversion to sovereign risk over the last 12 months. Except NEM due to its spread and our rising dollar.
  6. explod's Avatar
    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.


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