To quote a long used analogy 'you can't see the forest for the trees' would best describe what Rox Resources has discovered/acquired in Gold tenements.
We currently have a substantial gold mining resource that keeps increasing each time we hit a discovery hole. Regardless of the mostly average assays released with last Thursday's announcement, there is a proven shitload in the ground, that many a lesser gold company would give their eyeteeth to have on their books.
What I make of it is that every oz of gold discovered is an addition towards the updated JORC. Some results will be high yielding, while others may appear of lessor value, but if near surface they contribute to a lower AISC.
As we are not yet in production, all discoveries become, in theory at least, part of a wealth creation process to increase Rox's perceived market cap.
Shortly after AP was appointed MD of RXL in Feb 2019, we partnered with VMC in the existing gold resource of 1.2m ozs at Youanmi, now 70/30. Since then we have been announcing a solid run of new assay results, which is expected to reflect in a sizeable increase in the updated JORC due Feb 2021.
See below the past headline drilling announcements, contributing to the potential of an increased mineral resource in the updated JORC:
13 Jun 2019 - HighGrade Gold Discovered at Currans Find
24 Jun 2019 - BonanzaGold Grades at Currans Find North
5 Aug 2019 - NewBonanza Gold Grades at Currans Find North
27 Aug 2019 - OneMetre Assays Upgrade Currans Find North Gold Discovery
5 Sep 2019 - RCDrilling intersects Stacked Lodes extends High Grade Zone
9 Sep 2019 - Highgrade results from Youanmi
24 Sep 2019 - BestResults to Date from Youanmi Gold Project
7 Nov 2019 - HighGrade Results from Youanmi Near Mine Exploration
19 Nov 2019 - ExceptionalGold Grades in Youanmi Near Mine Exploration
21 Nov 2019 - HighGrade Gold Mineralisation extended at Currans JV
24 Dec 2019 - FurtherHigh Gold Grades Confirm New Zone of Mineralisation
20 Jan 2020 - FurtherExceptional Gold Results Confirm New Discovery
18 Feb 2020 - FurtherHigh Grade Gold from Grace and Regional Prospects
2 Apr 2020 - GraceProspect Continues to Deliver High Grade Gold Results
16 Jun 2020 - ImpressiveGold Grades in Youanmi Drilling
23 Jun 2020 - Youanmi(Grace) Shallow Drilling Delivers More High Grades
27 Jul 2020 - RCDrilling Expands Gold Discovery at Sovereign Prospect
1 Sep 2020 - Newexceptionally high gold grades extend Grace Prospect
11 Sep 2020 - HighGrade Gold Mineralisation Discovered at Taylors Reef
18 Sep 2020 - HighGrade Gold intersected at Sovereign Prospect
10Dec 2020 - VMC:GoldDiscovery in Granites at Youanmi North Hope Prosp
If you take the time to read through these and research RXL's potential value, you can readily determine how current sentiment has overruled common sense. With a market cap of just $82m, we are sitting ducks for takeover offers, or as I prefer to believe, our share price will rise to restore true market worth. Whatever the case, 4cps is a significant discount to fair value.
All in my opinion and do your own research.
- Forums
- ASX - By Stock
- Ann: Youanmi Exploration Update
To quote a long used analogy 'you can't see the forest for the...
-
-
- There are more pages in this discussion • 77 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RXL (ASX) to my watchlist
(20min delay)
|
|||||
Last
12.0¢ |
Change
0.005(4.35%) |
Mkt cap ! $49.27M |
Open | High | Low | Value | Volume |
11.5¢ | 12.0¢ | 11.5¢ | $87.28K | 747.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 83343 | 11.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.0¢ | 106665 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 83343 | 0.115 |
11 | 398189 | 0.110 |
10 | 462556 | 0.105 |
3 | 300000 | 0.100 |
1 | 136842 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.120 | 106665 | 5 |
0.125 | 146740 | 3 |
0.130 | 2074 | 1 |
0.135 | 33633 | 3 |
0.140 | 433866 | 11 |
Last trade - 13.16pm 10/10/2024 (20 minute delay) ? |
Featured News
RXL (ASX) Chart |
The Watchlist
EL8
ELEVATE URANIUM LTD
Murray Hill, MD & CEO
Murray Hill
MD & CEO
SPONSORED BY The Market Online