Other Tenements, page-8

Frog 76 : Might be time for management to tell shareholders the truth.
You have a very good point Frog 76 I hate being cynical and have tried to be a positive as well as a long term loyal investor since the initial strike a decade ago . I kept buying Rex shares all the way down from the highs $3.00 to at one stage the lows of 4 cents .I now own a bucket load of worthless shares with no real hope that this project is going ahead . The Rex board have made a very good living for themselves out of the 160 million Capital Raisings . Mark Parry knew what was happening and bailed out some time ago. They are now blaming the copper price for the delays other than the real issue. The real delay is that the PEPR is stalled due to the fact that the farmers are winning the battle over the access to the mining sight and they are determined to win the battle and wait Rex out. They refuse to give up their land as simple as that and Rex will never admit to that though . The DEM raised this issue with Rex last Sept 2018 and the management have been sitting on their hands blaming everything except the real truth. Rex have not responded to the DEM hence the long delay in investors waiting for approval . It won't take long now for the current cash to run dry and they will find it hard to find a backer for another capital raise to pay their wages and to support their consultants. Very sad situation for the Mum's and Dad's investors that
believed in this company .