On the money Antietam.
This capital raise is not just out of the blue for us.
MD Phill Wilding had the perfect opportunity to cap raise on his global investment tour, but did not.
Rox do not need more capital for operational reasons.
So why suddenly have an unplanned cap raise?
Rox is increasingly looking like a potential billion-dollar company.
Merger and Acquisition activity in the gold sector is running red hot.
Predators must be ‘running the ruler’ over the Youanmi Gold Project.
Consider the ownership insecurity around the large share of the company owned by Venus Metals and Q Gold.
They have questionable allegiance to Rox and note that the Venus CEO recently exited the Rox Board.
Rox is probably shoring up control.
Hawke’s Point has a long history of being very proactive in heading off takeovers of companies they are substantial holders in.
A CR to Hawke’s Point would put Rox in safe hands against a TO that undervalues the company.
Despite the dilution, we should welcome that.
Just my opinion, but probably an insto only raise at only a small discount to 20-day VWAP.
Rox has a torrent of market-sensitive milestones on the way.
The dilution from this cap raise won’t hinder substantial gains in the share price this year.
(20min delay)