Discussion with Alex

Just talked with Alex. Always a great privilege when he takes my calls and he demonstrates that he has the interests of small retail holders in mind.
Some points of interest:
Rox has a very good deal with the drilling contractor and the 3000m of additional drilling will only cost $210K.
The additional drilling is all Grace and Grace North. After the RC201 ( 2@18 g/t Au ) hit they realised that other holes in the area should have been drilled deeper, so that is part of what they are doing.They are also doing infill drilling and undertaking additional drilling near some high grade hits to be able to produce a credible resource estimate with as little inferred resource as possible.The additional drilling is needed partly because there is no visual guide in the drill cores ie they can’t look at the cores and see which has gold. They only know after the lab results so then may have to go back to the hit and do more drilling.
The exploration of regional targets does not include drilling at this stage but regional targets will be drilled in the second half of the year. Rox is using advanced gold finding tech such as Landsat satellite imagery in its exploration. Alex sees advanced tech as the key difference in what the company is doing compared with other companies in the past.
Alex commented that Yopunami is a complicated high grade gold system but this is not unusual. He said that some of the biggest gold miners such as Northern Star work similar gold reserves.
Blue swims: The lab Rox used was chosen because it is an international that provides high quality, credible results. But other miners thought the same so they were swamped and turnaround blew out to 2 months. RXl now have a commitment to a turnaround of 2 weeks.
Alex stressed that his staged development model is aimed at protecting shareholders (of which he is the major holder).
(1) Get a near term cash flow instead of raising more capital
(2) Start small probably with a small plant
(3) Build the JORC and expand the plant, perhaps a modular plant that adds capacity as the company can afford it (but no decisions made on this yet including whether to using the existing plant or parts of it.
All very exciting.
Of course I couldn’t ask market sensitive questions but Alex is confident that Rox will do very well in the future.
I will post more if I recall anything else.