It takes 10 years to start a gold mine and Rox will very likely restart Youanmi in 7 with an impressive free cash flow.
There have been many misleading statements from Rox (repeated by me) in the early years after acquiring Youanmi. Grace, visible gold and the timeframe for restarting the mine are stand out examples.
Under new leadership Rox has never explained the past to us and nor has the Board accepted responsibility. Nor has Rox implemented changes around risk management as far as we know. But we can be assured that the ASX is watching the company closely. Note the recent amended announcement. The new MRE has the ASX’s fingerprints all over it. Rox say their new global MRE which is smaller in gold ozs is quality over quantity (with the ASX’s gun at their head imo).
We can trust the ASX vetted new MRE 1.1m ozs gold @ 6.1g/t both because of new leadership and close external scrutiny.
That is an outstanding resource that will form the basis of the PFS due in June.
Those who understandably have lost all confidence in the company or believe the time line to 2026 production is a fiction or too long for their investment strategy should sell out. Rox doesn’t care if we do and are not losing any sleep over the current share price. Their insto supporters and directors are holding fast and they would have been assured of new funding by the likes of Hawke’s Point after a positive PFS in June.
My opinion DYOR
(20min delay)