Ann: Midway Emerging as a New High-Grade Gold Discovery, page-22

spec your posts on Rox are not at your usual high standard.
Rox own 70% of the project.VMC are not free carried at all.
VMC are 'carried' up to a decision to mine when they pay 30% of the total pre- production costs of $134m.
They pay this upfront along with Rox. But from production they repay interest free the development costs of getting to a decision to mine.
I think that figure is about $4m to date and will be much higher by the time the feasibility studies are complete.
In my view, Rox is very undervalued with a very low capex and AISC of $1,600 oz au. Ramelius (RMS) just announced an AISC for H1 of $2,044 oz au
Right the SP is not well down based on fundamentals. A big holder is selling off. The seller is not a substantial holder or we would have received a notice by now so it is not Hawke's Point.