well spotted CashedUp Bogan key point to consider here is options to realise value being actively pursued.
The Fisher - Eureka project is impressive in its entirely with VTEM targets (Cu, Ni etc) as well as high grade gold targets and deposits. This is one of the very few last frontiers that are highly prospective. Note the location: https://www.investi.com.au/api/announcements/rxl/f6c3ce17-4f5.pdf
Rox is hell bent on progressing the Youanmi project and with the negative (over) reaction to its sound Scoping Study/PFS simply cannot afford an early stage project. Rox needs to further derisk Younami with a FS or DFS which is not as far off as some might think. But to achieve this it needs around $4m, IMO Rox will identity a resource JORC and then use Fisher- Eureka or perhaps just Fisher to raise cash. Alex Passmore has a stellar background in raising finance so while I have no idea how he will achieve this I am confident he will.
My opinion DYOR
RXL Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
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