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Rex Minerals (RXM) investor relations material
Rex Minerals H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered Scheme Implementation Deed with MACH Metals for acquisition at $0.47/share, implying a $393M market cap and a 98% premium to 90-day VWAP; Board recommends shareholders accept the offer.
Raised $22.6M via placement and entitlement offer to fund Hillside Project pre-construction and working capital.
Focused on advancing the Hillside Copper-Gold Project in South Australia and Hog Ranch Gold Property in Nevada, USA.
Net loss after tax for FY2024 was $15.5M, improved from $24.8M in FY2023.
Financial highlights
Cash position at 30 June 2024: $21.3M (2023: $6.6M).
Net cash outflow from operating activities: $16.8M (2023: $25.4M).
No borrowings; equity increased to $55.3M (2023: $40.9M) due to capital raising.
Loss per share: 2.26 cents (2023: 4.19 cents).
Outlook and guidance
Scheme with MACH Metals expected to be implemented in late October 2024, pending approvals.
Continued focus on Hillside Project development and exploration at Hog Ranch.
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