The 2 instos that have bought in apart from Hawke's Point have not been identified by Rox. Alex and CFO Chris Hunt attended an investment meeting in London recently matching projects to investment capital, much of it from European based instos. There was a lot of interest in Rox with a high no of follow up meetings. But everyone is waiting for the Scoping Study. Instos won't be buying in unless Rox can produce a study that shows robust economics on the staged restart of Youanmi. The fundamentals are right and I believe they will do exactly that, probably before the end of this month. After the rerate that should follow the Scoping Study we can expect current instos to buy more or new ones to buy in. Hawkes Point has options well above the current SP. Rox is very keen to have more insto support, both to block a TO and to stabilise the SP with long term investors.
RXL Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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