The ann on 22nd June said the Scoping Study needed more info.
These are challenging times to be delivering a Scoping Study with surging inflation in WA mining and tighter finance. They need to impress the instos that will be asked to fund Rox going forward to production.
Rox is cutting down on Capex so the company has less to borrow which means starting on a smaller scale than the planned 1.2 MTPA plant, perhaps even repairing the existing plant or using more parts of it. They are also be looking again at the shallow resources to get the highest possible grade for the open pit pathway to production. The ann on the high grade Grace deposit was the start of this analysis and others may follow on other pitable deposits such as Bunker and the Plant Zone.
The changed environment in WA mining has led to the Scoping Study delay but imo their prospects of delivering a robust Study are high.
The addition of a new director to the Rox Board with high level skills in feasibility studies and mining will be valuable here.
The Study is a critical milestone and Rox has to get it right. As frustrating as it is a few more weeks is well worth the wait for a more compelling outcome
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The ann on 22nd June said the Scoping Study needed more...
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