The future price of gold is hard to pick but keep in mind that the POG in AU is improved by a strong USD and the exchange rate is unlikely to change significantly. Today I see the POG slightly up in AU 3,086 and slightly down in USD 1,984.The 2022 Rox Scoping Study assumes a POG at AU2,450 ie $636 lower.
While that could change it is very unlikely to slip beneath the modelling at AU2,700.
The metrics of the Scoping Study are dramatically improved by a jump to that POG
At a POG of AU2,700 the LOM free cash flow increases from AU418M to AU555M, the CAPEX payback period is just 2.3 years and the annual EBITDA, the NPV and IRR all leap.
Reasonable to think that the Pre-Feasibility Study due in Q1 next year will be based on a POG of AU2,700 and have much better metrics. The market is likely to light up the RXL share price when the PFS is released.
https://www.investi.com.au/api/announcements/rxl/db1bc3e6-24c.pdf
(20min delay)