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Rex Minerals (ASX:RXM) - CEO, Richard Laufmann (right) - The Market Herald
CEO, Richard Laufmann (right)
Source: Rex Minerals
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  • Rex Minerals (RXM) has revealed it spent much of the December quarter focused on advancing and extending its Hog Ranch assets in Nevada, U.S.
  • The exploration company has released its latest quarterly report for Q2 FY21, showing it managed to triple its landholding claims at the site
  • The new landholdings cover a significantly larger trend which was recently defined at Hog Ranch through geophysical and survey work
  • In addition to the new claims, Rex also completed drilling at the Bells and Krista projects within the Nevada site
  • Financially, the company spent just over $2 million on operating expenses over Q2 with most of that money going towards exploration and evaluation works
  • Rex ended the period with $9 million worth of cash in the bank, slightly down on the $10.4 million it had at the end of Q1 FY21
  • Shares in the company are trading steady at 20 cents each

Rex Minerals (RXM) spent much of the December quarter focused on advancing and extending its Hog Ranch assets in the U.S. state of Nevada.

The exploration company has released its latest quarterly report for Q2 FY21, showing it managed to triple its landholding claims at the site.

The new landholding claims cover a significantly larger trend which has been identified at Hog Ranch through recent geophysical and survey work.

Several drilling campaigns have also been completed at the Bells and Krista Projects within the U.S. asset, extending the known gold strike length at Krista.

Additionally, the drilling at Bells confirmed the presence of silver at the project with a consistent silver to gold average ratio of around five-to-one.

Along with the progress at Hog Ranch, Rex also began financing discussions and wider community engagement for its Hillside Copper Gold Project in South Australia.

In terms of finances, the materials stock spent just over $2 million on operating expenses over Q2 with most of that money going towards exploration and evaluation works.

Rex ended the period with $9 million worth of cash in the bank, slightly down on the $10.4 million it had in cash reserves at the end of Q1 FY21 but enough cash to keep it going for an additional 4.45 quarters.

Following today's quarter report release, shares in the company are trading steady at 20 cents each towards the close of trade.

RXM by the numbers
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