Rox's low Capex opportunity to start mining

Rox's Scoping study is coming next month. It will detail pathways to production. Underpinning every one is profitability and Capex requirements.
What is the ASIC margin modelled against the projected price of gold and how much Capex is needed?
The Capricorn SP didn’t do much when it announced its scoping study because the Capex was huge. They have a large low grade reserve needing a huge expensive plant and many investors considered they would not be able to raise the funds. It was only when Capricorn (and Hawkes Point) finally derisked their project by raising the Capex that the SP took off.
Most companies do not have much flexibility in their pathway to production. For example, DEG has a huge low grade 100% refractory gold reserve so they must have a massive plant that can treat refractory ore. Capex is said to be $800m but will be more.
But Rox has a rare opportunity to start with a low Capex. Rox has described a dual function plant that treats both oxide non sulphide ore and a parallel Float which is an oxidation step for sulphide ore.Total Capex for a likely 1.2MTPA dual processing plant is around $140m. But Rox has the option to start mining with oxide ore only from near surface and deeper quartz lodes in a standard single process CIL plant. Rox can then add the second float later using profits from the start up plant. Rox does not have to start with an expensive dual process plant and that offers a 33% Capex reduction of nearly $47m on the plant cost. When Rox, with its DFS in hand at the end of this year, presents its case for funding it will be requesting a much smaller Capex. This option greatly increases its chance of getting the funding and restarting Youanmi quickly. Once in production the $47m cost of the additional circuit will be easily management by Rox in addition to the 3 year loan payback instalments.