Canaccord Genuities have released new research on Rox which is in line with the the company's current direction as explorer/ developer.Valuation and recommendation: We maintain our SPECULATIVE BUY recommendation and price target of $0.60.
Highlights: Paddy's Lode has a strike length of at least 200m with more drilling underway. The latest diamond drilling is more representative of the true width of the lode which RR has described as between 3 and 8m, similar to Penny West, Penny North and the Youanmi Main Lode.
Pyrite and arsenopyrite sulphides are present in abundances of 1-2% and up to 5%, suggesting less benign metallurgy. However this is easily manageable and falls under the Chinese import tax threshold at 6%
https://roxresources.com.au/wp-content/uploads/2023/05/230516-Revised-Estimates.pdf
Paddy's Lode, page-8
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