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Ann: Quarterly Cash Flow Report - June 2022, page-5

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punter45

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29/07/22

11:41

Post #: 62805642
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Originally posted by m0ngy: ↑

Rox isn't the only company to be impacted by the acute labour shortage in the WA mining industry. From PGL this morning:

Resource modelling has progressed slower than expected. Availability and timing around key resources and consultants has delayed the completion of this work plan.

Good to see the low spend in Q2 and that the Scoping Study will be released before the next CR.
Rox has to get the Scoping Study right regardless of the time it takes. Hawke's Point, cornerstone investor, has provided high level technical support throughout and they will make sure the Scoping Study is robust, They are likely to fund the Capex and have to justify the spend.
Of note is the focus on Link which is the next highest grade near surface deposit after Grace.
Why bother with Link when Rox has 1m oz Au near surface?
To get the Capex low, which is what Rox needs to do, they have to buy a small plant, probably less than 1 MTPA.
A small plant is fine for the Deeps high grade ore but for the time being Rox want to avoid the cost of rehabilitating the decline to access that gold.
A small plant can't profitably process relatively low grade near surface ore.
Down the track when the plant is expanded the 1m oz au will be processed but for the restart higher grade ore is needed.
So Rox would be firming up the existing resources at Grace and Link and they are likely to be the feed for the restart.
Link has produced some excellent hits over the past year or so and will now be infill drilled to convert inferred to indicated ozs of gold.
Then we will get a robust Scoping study for a near term restart with a Capex of around $150m or less.

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you come up with very poor ramping of making excuses for Alex’s regularly missed targets of announcements.

imo early September cr and will be around 0.20c-.022c

very poor performance imo

RXL Price at posting: 25.0¢ Sentiment: None Disclosure: Not Held
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