Strong news flow, this is our year in the sun.
We will be getting the first drill results from Kathleen earlier than previously announced.
The potential is an additional 193koz – 355Koz most of which will add to the mining plan.
An additional rig may be added to the project bringing the total to 6,
As shown in the pic Rox has started to drill Pollard the most exciting zone of all.
With 2 DD rigs at Pollard Rox is going for broke to land a major new discovery, such as a repeat of the Youanmi Main Lode.
Rox is keen to increase the share price before announcing the MRE.
That’s when a predator would swoop, and several would be watching undervalued Rox closely.
The main risk is Ramelius Resources.
RMS needs to add more gold to its Mt Magnet production hub.
Spartan Resources would be an ideal TO target but it has a whopping market valuation of $2.1B compared with Rox at $110m.
RMS already has substantial infrastructure including a mining camp at Youanmi for their Penny Gold project with a limited remaining life of mine..
RMS investors are puzzled that RMS has delayed announcing the upgrade to its Mt Magnet mill until March.
That just happens to be around the time of the Rox Mineral Resource Estimate (MRE).
Processing high-grade Youanmi ore at Mt Magnet would involve adding Glencore’s Albion circuit.
The oxide and treated refractory ore would be mixed as feed for the existing CIL mill (perhaps expanded)..
RMS would also take into account that their Penny Gold is on a tiny part of the prospective Youanmi Shear, while Rox holds 60 kms of it.
Much is unexplored or under-explored.
If RMS ended up paying $1 a share for Rox the project would be acquired for around $650m.
That’s less than RMS’s half year profit.
ozboypete, The 25 cent options will certainly be exercised before their expiry in November but will Rox own the projectthen?.
Roxstar Jones, Agreed, Looking at companies at a similar stage of development Santana Resources SMI has a market valuation of $306m. Rox should be at least double its current share price right now..
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