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.
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