Ann: Mt Fisher Gold Project Exploration Update, page-17

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22/10/22

11:14

Post #: 64335053
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Originally posted by m0ngy: ↑

Agree, but while sound Scoping Studies do not always have a positive effect on the SP they don't smash it as has happened with Rox. I imagine that the Rox Board would be as shocked as holders after producing a very thorough and credible pathway to near term production. As you say securing finance is the key as was the case with Capricorn but a DFS can also be a positive. Rox has produced a study that is more advanced than a standard Scoping Study so how long and how much more capital will be needed to produce a DFS who is the key to getting finance? And of course how will Rox raise that capital?
$4m needed with a DFS by the end of Q1 next year? A rights issue would be painful now because with the SP so low and with a discount needed to encourage take up it would be more dilutive than previous CRs. Not so long ago Rox could have raised more than $4m @ 40 cps but chose to cap it because they didn't want to dilute the share registry so cheaply. Now the SP is less than half.
Divest Fisher? Sell the Rox stake in Cannon? Everything would be under consideration.
The market cap of Rox is now just $31.25m which is a successful explorer value rather than a company that has a large JORC compliant resource with a credible Scoping Study and huge potential to generate a large cash flow. Deduct the value of Fisher/Eureka and the stake in Cannon and the market valuation of Rox is absurdly low imo.

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