What's in a name?
You would think long and hard before you named your discovery after the legendary Patrick (Paddy) Fitzgerald.
RR is supremely confident that Rox is onto something big.
RR also compares Paddy's Lode with the Youanmi Lode, in particular the Youanmi Deeps
Note the Deeps intersections below, the first number is the intersection and the second the grade, so at the yellow star the hit is 1.3m @ 35.5 g
Paddy's Lode hits are looking comparable, perhaps even better, although more data is needed.
Rox is claiming a strike length of 200m so far which is impressive and with much more to come imo
Of course the Youanmi Deeps is much longer for now but time will tell.
The Deeps hosted 411K oz Au. The underground Penny Gold project nearby is 300K ozs and sold for $300m To RMS but is probably worth $400m now.
At 100,000 oz with an AISC of $1500 oz Paddy's Lode would earn Rox around $100m. That's just Paddy's.
Even 50K ozs would be worth $50m.
In his presentation. RR mentions a decline to Paddy's Lode and its potential to upscale production up to and beyond 100,000 oz Au PA.
Not sure why the SP declined today?
Youanmi high grade lodes like the Penny's and Youanmi do not feature continuous long intersections which perhaps the market was expecting after the stellar 28m @ 34.81 au g/T. But they are world class gold lodes and Rox is confident they have one at Paddys and perhaps another at Midway..
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