Rex Minerals Getting to the Pointy End of Hillside Financing Process
Rex Minerals Getting to the Pointy End of Hillside Financing Process
Rex Minerals (ASX:RXM) is advancing the funding process for its Hillside copper-gold project on South Australia's "Copper Coast".
Rex Minerals（ASX：RXM）正在推進爲其南澳大利亞“Copper Coast”的Hillside銅金項目的籌資過程。
The fully permitted project hosts a substantial resource of 1.9 million tonnes of copper and 1.5 million ounces of gold.
完全獲得許可的項目擁有190萬噸銅和150萬盎司黃金的大量資源。
An optimised feasibility study for the first stage of the project was released in December 2022, returning pre-production capital costs of A$854 million, a post-tax net present value of A$847 million and a post-tax real internal rate of return of 19%.
該項目第一階段經過優化的可行性研究在2022年12月發佈，預生產資本成本爲A$85400萬，稅後現值爲A$84700萬，稅後實際內部回報率爲19%。
Speaking at the RIU Sydney Resources Round-up, Rex executive general manager investor relations and business development Peter Bird pointed out that the study used a copper price of
Rex執行總經理投資者關係和業務拓展彼得·伯德在RIU Sydney Resources Round-up上發言指出，該研究使用了銅價。
US$3.92 per pound and gold price of US$1610 an ounce.
每磅3.92美元和每盎司1610美元的黃金價格。
The copper price is currently trading at US$4.44/lb, while gold is sitting at more than US$2300/oz.
銅價目前正在以每磅4.44美元的價格交易，而黃金的價格超過2300美元/盎司。
"Clearly the 4.3-year payback period is not getting worse," Bird said.
“顯然，4.3年的回收期並不會變得更糟，”伯德說。
The stage one mine plan would produce about 42,000 tonnes of copper per annum and 30,000ozpa of gold over 11 years.
第一階段採礦計劃每年將生產約42,000噸銅和30,000盎司黃金，歷時11年。
There is the potential for three additional stages which would result in a mine life in excess of 40 years.
還有三個額外階段的潛力，這將導致超過40年的礦山壽命。
"Resources remain open at depth," Bird said.
“資源在深度方面仍然開發，”伯德說。
"This is going to be around for a very long time."
“這將持續很長一段時間。”
In a research note published last week, Euroz Hartleys analyst Mike Millikan described Hillside as "one of the most significant copper-gold developments in Australia".
在上週發佈的一份研究報告中，Euroz Hartleys分析師邁克·米利坎將Hillside描述爲“澳大利亞最重要的銅金開發項目之一”。
Rex raised A$22.6 million in the March quarter, welcoming MACH Energy Australia as a cornerstone investor and leaving the company in a strong funding position as it advances project
Rex在三月季度籌集了A$2260萬，並歡迎MACH Energy Australia成爲基石投資者，使該公司處於強大的項目籌資地位。
financing.
籌集資金。
Rex has also signed a non-binding letter of intent with Nittetsu which would see the Japanese company take an initial 15% stake in the project with the potential to move to 45%.
Rex還與日本公司Nittetsu簽署了一份非拘束性意向書，根據意向書，該公司將以初步投資15%的股份入股該項目，有望提高至45%。
"We're in very good company," Bird said.
“我們的公司非常優秀，”伯德說。
Rex has a current enterprise value of A$150 million, which Bird said equated to A3.5c/lb of Hillside's contained copper.
Rex目前的企業價值爲A$15000萬，伯德表示這相當於Hillside所包含銅的A3.5c/lb。
"That's pretty cheap for a project in South Australia that's permitted and ready to go," he said.
“這對於已獲得許可並準備就緒的南澳大利亞項目來說相當便宜，”他說。
He also pointed out the projected rise in copper demand and the lack of quality development projects.
他還指出了銅需求預測的上升以及質量開發項目缺乏的情況。
"There's heaps of demand but not much new metal coming onto the bat."
“需求很大，但市場上新的金屬產量很少。”
Millikan said the electrification thematic would continue to drive copper demand.
米利坎表示，電氣化主題將繼續推動銅需求。
"Rex provides excellent leverage to copper price and is also expected to benefit from gold by-product credits for operating cost advantages," he said.
他說：“雷克斯在銅價方面提供了極好的槓桿作用，並且還預計受益於黃金副產品貸款，具有運營成本優勢。”
Euroz calculates Rex's net asset value at A62c per share, or A$1.19 when using the current copper spot price.
歐洲證券(Euroz)計算，以目前銅現貨價格爲基礎，雷克斯的淨資產價值爲每股62澳分，或者是每股1.19澳元。
The firm has a price target of A65c for Rex, almost triple Tuesday's closing price of A22c.
該公司看好雷克斯，將其目標價定爲每股65澳分，接近週二收盤價每股22澳分的三倍。
