Why must Rox remind us of this disgraceful deal by posting these excellent gold grades at Fisher?Rox down 4% and HTM up 60% says it all.
A gold deposit doesn’t have to be big with the current and future price of gold, but it does have to be high grade.
30K ozs Au can produce a free cash flow of $30m + HTM will start mining within 12 months.
Has the Board not noticed the market interest in small companies that have what were once regarded as unviable resources?
Small high-grade deposits is what Fisher has and there is very likely a deep-seated resource yet to be found (according to Rob Ryan).
Fisher, with no discoveries, will generate circa $100m in free cash flow.
What a great IPO this would have made, valued at $30m.
But Rox sold Fisher for peanuts.
The deal with HTM is not new but it was rejected by Ryan and Hunt, who was the salesman.
But the new Rox thinks it’s transformation – which it is but not for Rox.
Deal-making is not the forte of the new Rox.
Dennis should have been forced out long ago.
Let’s hope they don’t get a lowball TO offer from Ramelius.
The main game is the Youanmi restart but that focus doesn't excuse this poor decision making.
(20min delay)