Rex Minerals Limited (AU:RXM) has released an update.
Rex Minerals Limited has made significant strides in the equity partnering process for its 100% owned Hillside Copper-Gold Project in South Australia, with due diligence and major contract negotiations advancing. The company has also seen involvement from the Japanese mining company Nittetsu, potentially acquiring a 45% interest in Hillside, and solid financial positioning with a cash balance of $22.77M. Meanwhile, its Hog Ranch Gold Property in Nevada is on hold as the company evaluates strategic investment options.
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