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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 all-cash acquisition at $0.47/share, implying $393M market cap and a 98% premium to 90-day VWAP; Board recommends shareholders accept the offer.
Raised $22.6M via strategic placement and entitlement offer to fund working capital and Hillside Project pre-construction.
Focused on advancing the Hillside Copper-Gold Project (South Australia) and Hog Ranch Gold Property (Nevada, USA), both with significant resource potential.
No dividends declared; loss after tax reduced to $15.5M (2023: $24.8M).
Financial highlights
Net loss after tax: $15.5M, improved from $24.8M in FY2023.
Cash position at 30 June 2024: $21.3M (2023: $6.6M); net cash outflow from operations: $16.8M (2023: $25.4M).
Equity increased to $55.3M (2023: $40.9M) following capital raising.
No borrowings; first ranking charge over freehold land for rehabilitation obligations.
Basic and diluted loss per share: 2.26 cents (2023: 4.19 cents).
Outlook and guidance
Scheme Booklet to be distributed in September 2024; shareholder vote and potential implementation in October 2024.
Ongoing development of Hillside Project and continued exploration at Hog Ranch.
Board expects successful transition to MACH Metals ownership, providing financial strength for project execution.
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