The Pathway to Production announcement with the timeline below sees Rox in production early in CY 2027. CEO Wilding recently stated that Rox is on track. Wilding and Hawke’s Point have recruited a world-class team to keep the project moving forward rapidly. Many of the typical hold-ups will not apply to the Youanmi mine restart. In particular, there will be no environmental approvals delays at Youanmi with a 2022 survey showing a highly disturbed site with no endangered species. The Youanmi feral cat colony has played a role. Intriguingly, Venus Metals, in an application to the WA Mines states that the Youanmi mine construction will start at the end of this year rather than 2026. Venus CEO Matt Hogan is also a Rox director. Typical mine construction time is 12 months, so that timeline could have Rox in production late next year. Given the extensive existing infrastructure that Rox has been steadily upgrading, mine construction may take less than 12 months. Free gold and a strong cash flow will very likely start early in CY2027, but we could be surprised on the upside.
RXL Price at posting:
27.8¢ Sentiment: Buy Disclosure: Held
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