A word of thanks to ex-CFO Chris Hunt for his outstanding contribution to the development of the Youanmi Gold project.
Chris built and maintained valuable relationships with key stakeholders.
He did many things that others received credit for.
For example, the Cannon IPO was a collaboration between him and ex-CEO Alex Passmore.
He leaves big shoes to fill at Rox.
@ SmartDude: Both Ramelius at their Rebecca-Roe project and Rox at Youanmi are pursuing the same strategy.
They aim to bring the most “reachable” ore into production and pay off their Capex (infrastructure costs) as quickly as possible.
Neither company want to spend more time adding to the initial gold reserve than is necessary to get into production.
That will come later.
Rox currently have 2.3m oz in their MRE and that will be more like 3m ozs in the MRE update due around April next year.
The gold in the mining plan will be around 1m ozs, but over time, much more gold will be added to it.
Similarly, Ramelius has about 1/3 of their MRE in their mining plan to start production and will progressively add to it.
It certainly helps that the gold price is bullish.
The POG was assumed to be $A2,500 oz Au in Rox's PFS and today, it is over $A4,200 oz.
2025 is shaping up to send the POG over $A5,000 or double the PFS gold price.
In time, Youanmi will be a 2m oz project with a life of mine of 15- 20 years imo.
(20min delay)