The recent shaking up of Rox management could be Hawke’s de-risking before a major investment.Another de-risking is the current drilling campaign.The drilling of inferred stopes at United North, Youanmi Main and Pollard (Fig 2) is mostly conversion of inferred remnant ore to indicated gold ounces.When Youanmi was mined, the price of gold was so low that a lot of ore at a phenomenal, average grade of 11g/t was unprofitable to mine so was left in situ.Also, the old mining methods required a lot of waste, which added to the cost of mining so high-grade gold was not mined.For example, ore was left behind in pillars to support the roof of the stopes, whereas modern mining extracts the lot.There is a high probability that Rox will achieve its PFS target of 100K oz PA production target.The market valuation of the company is just $51m.Hawke’s Point is likely to repeat its funding of Ora Banda in 2022.Hawke’s provided an unconditional and unsecured loan of $11 million and a capped net smelter return royalty on gold production.That does not dilute the share registry and would be a good outcome for Hawke’s and retail holders.Excellent drilling results followed by funding to the DFS with no share dilution is a strong possibility.It would significantly derisk Rox.
- Forums
- ASX - By Stock
- Ann: Major Growth Drilling Program Commences at Youanmi
The recent shaking up of Rox management could be Hawke’s...
Featured News
Add RXL (ASX) to my watchlist
(20min delay)
|
|||||
Last
12.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $51.32M |
Open | High | Low | Value | Volume |
13.0¢ | 13.3¢ | 12.5¢ | $162.7K | 1.252M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 265704 | 12.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.0¢ | 292348 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 254104 | 0.125 |
8 | 191027 | 0.120 |
3 | 158750 | 0.115 |
3 | 28189 | 0.110 |
6 | 162356 | 0.105 |
Price($) | Vol. | No. |
---|---|---|
0.130 | 250000 | 1 |
0.135 | 335386 | 4 |
0.140 | 328044 | 8 |
0.145 | 479895 | 6 |
0.150 | 244411 | 5 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
Featured News
NEWS
Antler Copper Project hits major permitting milestone – air quality permit advances to final review
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries
RXL (ASX) Chart |