Yes, the last thing we need is for the new Rox to go off on a wildcat drilling spree.
But I don’t see any risk of that happening.
We are so used to seeing Rox stuff up that it takes a while to trust the new team but they have earned some respect with the results so far.
In contrast with ex-CEO Passmore, he had four rigs in operation at Grace North for months.
When asked about the results he replied that he doesn’t need results before starting the next holes.
No results were forthcoming from that Q4 of drilling and in Q1 of the next year in the Quarterly the truth was revealed.
Every hole was non-commercial and the cost had been $2m per month.
Passmore had been blind drilling for months.
Wilding is much more conservative.
The first stage 1 of the Step Up program is highly targeted drilling to determine whether follow-up infill drilling is warranted.
If Stage 1 doesn’t return significant assays, the drilling is halted at that location.
So even though Rox is cashed up the approach to adding more gold ozs to the mining plan is very cost effective.
I agree that not launching a major campaign to look for discoveries until the money is coming in is prudent.
But an exploratory hole or two at Pollard and a couple more shallow RC holes to follow up the Currans hit are simply too compelling imo.
Currans is cheap to drill and could be another Penny and it’s almost certainly oxide gold.
Passmore and to a lesser extent Ryan were gamblers whereas Wilding and his team are striking a good balance imo.
@CUB The presentation was the first time Phil Wilding has been on stage. He must have been nervous but did an excellent job imo.
@smartdude Yes Rox are on track to deliver a DFS in Q3/4. IMO they will also make a decision to mine and get the finance to fund construction in 2025.
(20min delay)