The surprise shallow high-grade hits above the Pollard Lode could be a game-changer.The Interceptor discovery is an oxide ore (this is a non-refractory itchybeaver).
It has a high recovery (95%+) low AISC and low Capex.
Interceptor can be mined as a shallow pit.
3-4 g/t could generate an AISC margin of over $2,500 oz.
40 koz = $90m free cash flow at an assumed price of gold of $3,500 oz
The market is valuing Rox at $68m today.
Rox is growing a significant oxide gold resource.
There is new shallow oxide gold at United North along with Commonwealth, Grace, and the Plant Zone.
Note that Rox had some excellent shallow hits at Currans, Red White and Blue and Sovereign.
In these locations, gold is in quartz lodes and invariably oxide at Youanmi.
More shallow AC and RC drilling is needed to grow the oxide gold Reserve.
But at the current price of gold, Rox is a strong bet to start mining quickly with an oxide gold operation.
Rox has also reported some exceptional hits from deeper zones and they can be mined later.
Right now, Phil Wilding is optimising the project to get into production quickly and he will be looking closely at an oxide gold start-up.
A DFS focused on oxide gold in mid-2025 is on the cards.
That will be confirmed if Rox announces a drilling campaign that includes targeting oxide gold resources.
These are great results, and I’m topping up.
Is the Rox share price today reflecting an imminent share issue to raise cash?
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