The Hawks Point/ Rox show

HP follow a pattern of investing as follows:
They increase their stake to around 50%, not to take a company over, but to maximise their profit.
That stake also gives them power over the company, they could even spill the Rox Board and nominate their own directors, then vote them in.
To rapidly build their stake in a company HP dislike other investors participating in share issues to raise capital.
Companies go along with this and Rox will imo, meaning that our shares will be diluted but the capital raised is a big positive.
Rox will need at least $50m to restart Younami. HP will provide that capital and in doing so will substantially increase their stake in Rox.
So with their existing stake plus the options at 7 cps and shares to the tune of $50m they will be well positioned in terms of their investment strategy,
HP may also make an offer to Venus for their shares in Rox or even try to secure their 30% stake in the Youanmi JV.
In terms of dilution, HP's strategy may seem negative for us but it isn't.
Imagine the market reaction to HP funding the Youanmi restart to the tune of $50 with a timeline to the first gold pour.
Very positive, so even though we get edged out by Hawkes the Rox SP becomes a multi bagger.
Bottom line is that HP will take control and everything that Rox does will be aimed at their best interests, if it isn't already.
Fortunately there are positives for us.
The Youanmi Mine will be restarted.
HP are very safe hands and will guide and control the restart.
While our investment will be diluted we can expect to see the SP perform very well.