I hope the shorters were burned.
Sub 30 cents a share when international funds paid 30 cents is crazy.
Interesting substantial holder notifications.
Venus CEO Hogan selling down to fund his Bell’s Chambers project.
Nosurprise that Hawke’s Point's share has been diluted.
They have millions of 25 cps options to take up before November, so they didn’t participate in the last CR at 30 cents.
Even so, Rox’s CR raising $40m @30 cps looks like genius now.
Rox was in good company in thesell-down yesterday.
RMS, OMB, CMM, EVN, NST etc all smashed.
The price of gold has not fallen enough to have any material effect on the Youanmi Gold Project.
The assumed gold price in the Rox PFS with robust metrics was AU 3,100 per ounce and today the price is AU 4.980.
Gold could fall by more than AU1,000 an ounce, and the Youanmi Gold Project would remain highly profitable.
JP Morgan, Goldman and the World Gold Council remain bullish on gold.
There is a rush into equities as safe-haven demand is reduced.
That reflects temporary euphoria, not lasting stability..
Gold thrives on uncertainty and many observers doubt it has ended.
The news flow on the final results from the Step Up Program appears to have stalled with the last update on April 28th.
However, excellent results from United North, Prospect, and Youanmi Main should provide a significant boost to the MRE due in July.
Ongoing drilling with 2 rigs is following high-grade gold shoots and a new DD campaign at Currans will add more gold to the DFS due in November.
Rox will produce a DFS in November.
(20min delay)