ROX currently has about 2.2Moz @ 3.6g/t (OP+UG) attributed resources being valued at about A$30m, with potential from Mt. Fisher as well as assets from CNR. All projects are in WA, the so-called 1st tier mining zone. However, no reserves has been defined.
Now look at RSG's Bibiani project. RSG owned it almost same volume of attributed resources of 2.2Moz @ 3.6g/t (all UG, with running-down intrastructure), among which 600koz were reserves. Bibiani was sold to Asante @ US$90m (and previous offer from Chinese Chifeng was US$105m but sabortaged by Ghanaian government), and it was deemed as a bargain to the buyer. Not sure what zone tier is Ghana categorised as. US$90m equivelent to A$135m at current extrange rate.
What do you think about the big gap of valuation?
RXL Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
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