By all accounts, RR did an excellent job at Bardoc in...

By all accounts, RR did an excellent job at Bardoc in progressing the project through all the feasibility studies to produce a very positive DFS. But, one of the reasons for selling the project while RR was CEO was that they lacked the expertise to build a mine.

Rox will be taken over and it’s the best option for the company and retail holders imo.

The directors know it and that may explain their self-interested behaviour and disregard for shareholders sentiment.

The performance bonus for RR and directors for the PFS when holders suffered significant losses is a recent example.

Rox is a struggling small cap but has retirement provisions for directors!

That is mainly a benefit for Dennis and I see him as the dominant figure on the Board, backed by Hogan and while Ryan is a straight shooter he is just one vote of 4.

My sentiment is sell on a TO.

What’s on the table?

The high-grade, high-margin Youanmi Gold Project with a global mineral resource of 16.2Mt at 4.4g/t for 2.3Moz of gold within the RMS Mt Magnet Hub radius.

A positive PFS with good outcomes but needs capital that Rox will struggle to raise.

60 kms of Youanmi Shear Zone hosting multiple historical very profitable mines and Penny Gold.

A compelling exploration upside at Currans Find Project.

Lithium prospectivity at Penny South

Fisher Gold with a 1,150km2 ground position with +65km strike length of highly prospective gold mineralised greenstone belt tenements in the prolific Yilgarn Craton

A JORC 2012 resource of 3.5Mt @ 1.65g/t Au for 187koz of Au with very high-grade intercepts.

With the current price of gold and M@A activity high, these projects must be appealing to cashed-up producers.

Market cap is just $53m, and there would be many sellers at a 100% premium ie 26 cps

I hold 350K Rox shares and I am one of them.

@CUB Bardoc Gold’s Leonora assets are now a jewel in the crown of Genesis Minerals. Check them out.