Nothing rubbery about the Deeps resource, close to 2.2m ozs gold. The grade is almost 7 g/t with a low strip ratio and even the refractory ore has a recovery rate of 92%. The Deeps will be a cash cow and I'm sure Rox could release a robust Scoping Study on the Deeps. The numbers would impress the market but in 2022 that pathway to production is not the most practical way to go for shareholders. imo the small scale restart Rox planned to release was considered not quite good enough, probably because of the high strip ratio of some of the near surface resources, except for Grace and Link. So it wasn't quite there and rather than release the Study as planned the Rox Board and Hawke's Point decided to do further work to improve the numbers. Hawke's Point are likely to fund the restart when the numbers are compelling, as they will be imo.
RXL Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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