The 100K oz Au target remains with the downscaled model. But the first step is half that and with the free cash flow Rox would add more indicated ozs and upscale the mill to 750K and then 100 K oz Au PA
The alternative is to have a long period of exploration with more CRs and a low share price while building the indicated ozs. And what will that cost? $10M worth of more cheap shares for instos?
If Rox announced a small scale scoping study and said it already had the feed and provided a timeline to a DFS, the market would respond in a very positive way.
I have put the proposal to Rox.
RXL Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
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