"Where is the speculative???" You show me its revenue and I...

"Where is the speculative???"

You show me its revenue and I might consider it something other than speculative. Clearly, obviously, undoubtedly, if a company is pre-revenue by definition it is speculative. Technically even a company producing revenue is defined as speculative until it starts paying dividends. Without a dividend what's its yield? The only way to recover the money you have paid for ROX until it starts paying dividends is by capital appreciation, which by definition means it is a speculation.

In terms of risk, Rox does not have the funds to build a processing plant, it has not developed any mine sites, it has not commissioned the plant and mine, it has not moved into steady state production, it has not confirmed that the reserves are mineable and retrievable. Will it clear all those hurdles? You can speculate that it will ... but you are speculating, not investing, if you do.

Here's a graphic of how an explorer typically moves through the development phase and turns into a producer. Of course, Rox is speculative.

https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/