Today’s announcement dramatically improves the metrics of the feasibility studies underway and opens the door to insto investors.
For example, free cash flow is no longer 70% of $418m PA, it is now 100% of it and will be much larger with the upscaling that will come.
This makes Rox a much more compelling investment for instos.
But even more important is that instos do not favour JVs and this would have been the major obstacle Rox faced in the past.
The JV obstacle is now history and Rox can expect much more interest,
This is timely because Rox has just become a TO target.
Important to note that Rox now has:
100% of the OYG tenement with new discoveries Midway and Youanmi South.
Both are relatively unexplored with outstanding bonanza hits
Youanmi South first drill hole:
28m @ 34.81g/t Au from 204m, including; 18m @ 51.96g/t from 207m, including;o 10m@ 79.55g/t from 211m, including;o 3m @ 138.07g/t from 218m.
Rox also has 90% ownership of the Lynda Gossan discovery with a very high-grade gold hit from the surface on the first drill hole.
90% of the regional exploration between The Penny’s and the Youanmi mine.
(20min delay)