Hawke’s Point does not have a blocking stake and like other...

Hawke’s Point does not have a blocking stake and like other investors, they are quite capable of cutting their losses.

Their bet on Capricorn paid off with huge profits,

Ora Banda is paying off. They broke their own rule and invested in Rox before a Scoping Study. Their Rox bet has not paid off but in the context of their Australian gold investments, it is a relatively small loss.

A lot of shareholders including myself will cut our losses if a TO at 26 cps is offered.

The biggest shareholder Venus, at 13.5%, paid zero for their 55m shares in Rox. Because of the timeframe to reach the feasibility milestones clause in the original agreement between Rox and Venus, Rox had no choice but to hand that much influence to Matt Hogan.

At 26 cps Venus would pocket $14.3m and the market valuation of Venus is only $13m.

Venus needs cash but hasn’t sold more than 1% of their substantial holding in Rox or we would have received a notification. Is Rox trying to keep Matt Hogan on side with free shares?

Matt Hogan is a master deal-maker and would be exploring the profitable avenues open to Venus and himself.

Inexplicable delay in drilling after the CR, no show at Diggers? No deal so far, but it will happen IMO. I wouldn’t be at all surprised if Rox is sold for 26 cps. Of course, I’d like to lose less with a better offer, but 26 cps is a 100% premium which is about as good as target companies get in a TO.

My opinion DYOR