Ann: Investor Presentation - Diggers & Dealers 2023, page-24

Rox made a big statement when they presented with Bellevue and Gascoyne. The three have high grade gold projects and even though Rox is a minnow by comparison it sets the company apart from the vast majority of gold juniors. The Deeps resource is 2.4Mt at 8.5g/t Au for 657koz and a lot more now with a new MRE in the works. The total mineral resource will soon be around 2.4m oz au.

There are two pathways open to Rox now.

The first is to make a significant discovery like another Penny from the near mine targets or perhaps Linda Gossan, or Sovereign etc? A high grade 300K oz discovery would see Rox focus on the find and speed Youanmi into production.

If they don’t make a big new discovery Rox needs to find enough high grade gold in the targets to provide the feed for the Scoping Study model and hopefully the upscaled version that lifts annual production to 100K oz+ of gold PA

Note that Rox’s exploration targets is that they are not just aero mag pictures but most have already had outstanding hits such as at Paddy’s Lode 28m @ 34.81g/t Au. The very first hole at Linda Gossan assayed at 9m @ 15.6 g/t Au from the surface including 3m @ 35.2 g/t Au from 1m. The chances that Rox will at least identify enough high grade gold to make their concentrate model work are very good imo.

It’s no secret that Rox will need to raise cash for their drilling campaign but they have every right to be confident that their Youanmi project is looking very tempting to instos as well as Hawke’s Point.
Raising cash with a small discount to the SP or perhaps none should not be a problem and we can look forward to a flow of exploration news from some compelling targets.

My opinion