Under the previous management key goals were frequently announced. Most did not eventuate and the company lost credibility. Key goals only give confidence if a company has a track record of meeting its goals and timelines. Rox is not yet in that position and since achieving feasibility milestones depends on drilling success their timelines would be risky. Rox is now a conservative company that will not make speculative statements. It's a welcome and long overdue change imo. We have been told that the first drilling results including from Midway will be in later this month. Midway is an exciting discovery with a solid history of high grade hits. https://www.investi.com.au/api/announcements/rxl/35f9f4dc-315.pdf It has the potential to upscale the project, eg increase production from 71koz pa at an average feed grade of 5.0g/t Au over an approximate 8-year projected mine life.to 100koz+ pa in Concentrate. But Rox is now determined to underpromise and overdeliver so they would hope to surprise us wth positive results,
My Opinion
RXL Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
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