UPDATE
Both deep diamond drill and RC drilling is well underway at Youanmi.
Initial dewatering is now the priority task.
Dewatering the shallow underground workings with the first 2 -3 years of production in mind is the goal.
Water is being pumped to the historical evaporation ponds in line with environmental protocols (the water is toxic so cannot be flooded over the desert).
Once the water level has been reduced sufficiently Rox will start to rehabilitate the United North, Pollard and the main decline.
Early access mining will follow soon.
This allows a step change in dewatering because Rox will set up high capacity permanent pumping stations that will move significant volumes of water to the evaporation ponds.
At the same time, underground drilling stations will enable Rox to drill faster and more cheaply to shore up the first 2 years of production.
Deeper extensional drilling from underground rather than the surface will be the norm soon.
Dewatering will also enable early access to ore so Rox can build a a stockpile for plant commissioning (Q1/2027).
That will reduce the variability of feed to the mill when ramping up underground production.
Rox wants to do much better in year 1 of the LOM than in the PFS
Rox is cashed up and moving fast with a professionalism not seen before in the company’s history.
The DFS due later this year will be based on a price of gold assumption that will ensure stunning metrics.
@ Roxstar Jones SPR has added Rox’s entire valuation because Ramelius (RMS) is swimming in cash and could launch a TO of Sparton.
RMS has just announced a likely profit for the year of $500m and has $850m in cash/gold and its SPR investment.
I’m not so sure.
Zep (RMS CEO) is rarely predictable and SPR is overpriced imo
For no credible reason RMS has delayed announcing their upgrade to the Mt Magnet mill.
Are leaving the door open to acquire the Youanmi Gold project instead of SPR in which case .
RMS will need to add a refractory circuit eg Albion, to the mill.
Venus + Q Gold with more than 20% including options are the weak link imo.
I don’t favour a TO.
I want to see Rox get into production and become a money printing press like Ramelius.
(20min delay)