Ann: Rox Resources raises $7m to drive next phase of growth, page-42

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GT55

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12/09/23

14:16

Post #: 69827002
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Originally posted by ASXRod: ↑

Yes but not this time. Matty realised that the new discovery at Linda Gossan needed a consolidated ownership to progress. Venus drilled the first hole at while exploring for VMS so Matty had all the geo data (that he didn't share with Rox, in fact didn't even tell Rox about the hit) and knew it was likely to be a significant new discovery. But Venus only had a 45% stake with funding needed and as you know Venus hates to fund anything themselves. So canny Matty gave Rox ownership and picked up a big stake in Rox and got himself on the Board plus Venus don't have to fund the project. He did well but so did Rox because the biggest impediment has always been the JV.
By now Rox would have completed the geological survey at Linda Gossan and may well be drilling to follow up that first hit from ground level. It the gold continues at depth or the Gossan hosts multiple thick veins as is characteristic of Youanmi we are off to the races.
And Linda Gossan is one of several targets anyone of which could be a gamechanger for Rox. The Pre feasibility Study to come will be very different to the Scoping Study.
Meanwhile I'm continuing to build my holding. If it's good enough for the instos inc Hawke's Point it's a strong buy.

CHN, CXO, SVY, TVN, RXL

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Your implying Matt withheld a material announcement from his own shareholders, is that what your saying?

RXL Price at posting: 19.5¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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