RXL 1.79% 13.8¢ rox resources limited

How low will sp drop before consolidation, page-47

  1. 10,075 Posts.
    lightbulb Created with Sketch. 4852
    Rox has provided credible evidence in its Scoping Study that it can restart Youanmi and grow production for many years to come. Why would they scrap that plan and focus just on Grace let alone give up on Younami altogether?
    As you can see from the Scoping Study Grace doesn’t underpin the low capex start up plan (it doesn’t need Grace).
    Grace has 30koz indicated and 70k oz inferred as per 20 April 2022 release, The company has said it will provide a Grace resource update which would see some of the indicated gold converted to Measured following the grade control drilling
    Why hasn't Grace featured more prominently in the Scoping Study?
    As you say, Grace is nuggety / poddy so continuity struggles in places so dense drilling at depth greater than 80m below the surface is needed to convert the ~70koz of inferred to indicated and measured ozs. Dense drilling is expensive so in producing the Scoping Study Rox included shallow Grace which has decent drill spacing but not the deeper Grace which remains as inferred ozs. But below 80m from surface there is still plenty of room for growth at depth. Grace has a shallow pit planned on it now but it will likely be a much bigger pit to the north where it runs under the old plant and at depth in time.
    Grace is just one of the Youanmi high grade deposits that have huge potential in the years to come.

    Just a note on today's share price action: Rox was a sitting duck for the shorts and day traders have done well. They were assisted by the barrage of negative posts on this thread.



 
watchlist Created with Sketch. Add RXL (ASX) to my watchlist
(20min delay)
Last
13.8¢
Change
-0.003(1.79%)
Mkt cap ! $55.97M
Open High Low Value Volume
14.0¢ 14.0¢ 13.5¢ $77.01K 550.6K

Buyers (Bids)

No. Vol. Price($)
8 395660 13.5¢
 

Sellers (Offers)

Price($) Vol. No.
14.0¢ 924999 5
View Market Depth
Last trade - 15.55pm 20/06/2024 (20 minute delay) ?
RXL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.