Venus’s MD Matt Hogan has several attractive company and lifestyle-enhancing opportunities that require him to keep a large stake in Rox but he may sell down to raise around $5m to advance his other projects after the PFS.
Being the largest shareholder and director of a mid-tier gold producer with a market cap of $500m+ in a few years is one opportunity for Matt.
He is a very smart dealer extraordinaire so nothing can be ruled out:
Join Hawkes Point or another company/insto to take over the Youanmi Gold project with a lowball bid. He gets Rox to do the expensive exploration work to the MRE and PFS and then snatches the project back again.
Career highlight.
That’s not the only threat of a lowball TO.
Ramelius’s shortfall at the Mt Magnet hub has become more acute with recent developments you can read about on the RMS thread. Meanwhile, the company has record production and a massive cash balance.
Ramelius (RMS) could launch a bid for Rox at a 100% premium to the current share price with their spare change
How is Rox going to avoid being snapped up at 30 cps?
The way to deal with predatory instos (including Hawke’s Point) is to not let any of them get a big enough stake to contemplate a TO.
Smartdude: I would be concerned if Venus sold their holding to Hawke’s Point.
Hopefully, after the PFS, Rox will attract a range of new instos and funds to lower the TO risk keeping in mind that RMS's MD Zep strikes like lightning as he did with Spectrum to buy Penny cheaply.
My opinion
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