Fisher Gold not as good as Millrose?Millrose was sold for...

Fisher Gold not as good as Millrose?

Millrose was sold for $61m.

Fisher Gold is a huge tenement in the prolific Yilgarn Craton that has been highlighted by WA Mines for its clear potential for significant discoveries of gold, nickel, copper, lead, zinc, tungsten, molybdenum, bismuth, vanadium, titanium, beryllium, lithium, tin, tantalum and uranium. WA mines have even funded drilling there.

The scattered very high-grade gold deposits at Fisher are likely to have a deep source that could be a major new mine. Millrose has lower grade gold but is more advanced but Fisher Gold has a higher potential to host significant very high grade deposits.

Rox would probably love to hang onto it but they need cash to get Youanmi into production quickly.

Millrose is substantially de-risked so worth $61m whereas Fisher Gold is higher risk so worth a lot less but at least $10m.

Also be mindful that the package of non-core assets for sale includes Eureka on strike from the Cannon high grade nickel deposits.

Re: underwriting the CR. The purpose of underwriting is to a reassure investors that the CR will succeed but this would cost Rox around 7% of the funds to be raised that they would rather spend on Youanmi.

Rox gave a steep discount to shareholders for this CR and any shares not taken up by retail holders will be offered to funds and instos. Rox is highly likely to raise the full amount and go on to sell Fisher/Eureka for at least $10m.