Originally posted by CashedUpBogun:
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with the money spent on SPR shares RMS could have brought RXL many times over.
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Hawke’s Point + Venus + Q Gold hold almost 40% of Rox and more when the 25 cps options expiring in November 2025 come into play.Venus is playing a supportive role, having been kept onside with the off-take deal on Bell Chambers, and will sell Venus Calcrete to the Youanmi mill.
Why would the major holders sell a project likely to generate $150m+ free cash PA for 10 or more years?
The DFS Reserve will be well over 1m oz Au with a stunning AISC margin.
There is a good chance of a transformational discovery as big as Youanmi or Penny Gold.
Next year, Hawke’s Point will lift its stake to 30%
RMS has missed out on $1.8B Sparton and Rox is looking extraordinarily undervalued at $105m, but it won’t be sold cheaply.
Hawke’s Point will guide the project through to production just as they did with Capricorn and are doing with Ora Banda.
@CUB Venus is doing the met work on Bells Chambers right now but is almost certain it is oxide non-refractory gold.
(20min delay)