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RX Gold & Silver Inc.
Symbol: RXEXF
Analyst: John Nobile
Taglich Rating: Not Rated
Price Target: NA
Time Horizon: NA
Rating Established: September 28, 2011
Price When Established: $0.42
Most Recent Report: December 16, 2011
Price When Issued: $0.35

Most Recent Update

Updated Research Report (Dated December 16, 2011)

What's New

On January 17, 2012, RX Exploration Inc. (OTC QX: RXEXF) announced it changed its name to RX Gold & Silver Inc. The name change will be effective, and the common shares of the company will begin trading under the new name on the TSX Venture Exchange (TSX-V), upon acceptance by the TSX-V. The company's website will be changing to rxgold.com. The company does not intend to change the ticker symbol.

The board approved a $5M exploration budget for 2012 which will be funded from revenues generated from the company's continuing evaluation mining efforts. The company also announced that it filed its application for a full operating permit in late December 2011. The application contemplates a minimum 500 ton/day mining rate at the Drumlummon mine and the construction of a 100% owned 700 ton/day milling complex on the company's existing land near the Drumlummon mine. While the permit application is pending, the company can continue evaluation mining as it has under the terms of its existing permits. The company is targeting a mining rate of 300 tpd for processing in calendar Q1 2012, moving up to 350 tpd in calendar Q2 2012 while progressing to the ultimate long-term goal of 500 tpd.

Further, the company expects the updated NI 43-101 resource estimate report to be completed by mid-February 2012 which will enable completion of technical studies by the end of March 2012 and further facilitate the company's evolution to commercial production.

On December 29, 2011, RX Exploration Inc. (OTC QX: RXEXF) reported results for its first quarter ended September 30, 2011.

The company reported no revenue in Q1/12 and a net loss of $7.7 million or $(0.05) per share. This compares to no revenue in Q1/11 and a net loss of $375,000 or $(0.00) per share.

Taglich Brothers estimates called for no revenue in Q1/11 and a net loss of $0.7 million or $(0.00) per share.

Company Description

RX Gold & Silver Inc., headquartered in Toronto, Canada, is a mineral exploration company whose strategy is to re-examine gold and silver projects within North America that have previously reached advanced exploration, underground development or past gold or silver production. The company is currently focused on re-starting production from its Drumlummon Mine, a past producing high-grade epithermal underground gold and silver mine in Montana.

Taglich Research Reports

Updated Research Report (Dated December 16, 2011)
Initial Research Report (Dated September 28, 2011)

All Research Reports are in Adobe Acrobat format.
( For the latest Adobe Acrobat reader click here)

The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years. For the first three months of publication, the company prepaid a monetary fee of $6,000 (USD) in April 2011 for the creation and dissemination of research reports. After the first three months of publication, the company will pay a monthly monetary fee of $2,000 (USD) for a minimum of twelve months to Taglich Brothers, Inc., for the creation and dissemination of research reports.

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