After a brief lull instos were buying again yesterday. One cross-trade was for $285K.
It’s hard to know the real buyers the brokers act on behalf of.
Instos hide behind trading accounts and the brokers will not reveal who their clients are.
Most instos have caps just below a 5% stake so they can stay hidden.
There is a lot to come from Rox in the coming weeks and months and the instos know it,
After many years of floundering, we are finally in good hands.
CEO and MD Phill Wilding has an impressive history.
He refurbished and commissioned Westgold’s Tuckabianna mill and Cue including the Big Bell and Great Fingall underground mines.
At Rox we have seen him build a technical and operational team par excellence.
Exploration manager Andrew Shaw-Stuart is finding a lot of shallow high-grade gold and we will see major changes in the mining plan.
At least one new pit is on the cards with all the positive metrics of open-pit high-grade gold mining.
The new discovery Interceptor at the Pollard lode mineralisation lode is in the oxide/transitional zone in the hanging wall just 70 - 120m below the surface.
It should be around 4 g/t with a high recovery rate given it will be oxide rather than refractory at that depth.
Best of all it can be mined by way of an open pit.
In the DFS it will be low Capex and AISC, so very high AISC margin gold.
Interceptor could kickstart production in 2027 by being mined and stockpiled while the UG works are being developed and refurbished next year.
Note that Rox mentions drilling from the floor of the main pit.
That’s not for expensive deep drilling but to get new shorter declines to get closer to the gold ore with better drill angles.
That will save money and speed up the mining process.
It will also allow the targeting of new gold-rich zones that cannot be achieved from the surface due to obstacles and angles.
The clever mine plan that Phill will develop for us will be one of the drivers of exceptional metrics in the DFS later this year.
(20min delay)