Some main movers for Rox in 2023
There is now a consensus that the price of gold will rise with targets between AU 2,800 and AU 2,900
I've found Chris Rutherglen PhD from Gold Investor Research to be an unbiased and accurate forecaster of gold prices and he sums up the context for higher gold prices:
Late in an interest rate cycle, the gold price tends to strongly advance as it makes the transition from one consolidation range to the next. Important cyclical highs have consistently occurred mid-way through the rate cutting phase Going into 2023, we are at the doorstep of just such a moment where this transition is expected to occur again.
As Rox advances through the feasibility studies on its Youanmi Project (Mineral Resource Estimate of 27.9Mt at 3.57 g/t Au for 3.2Moz of gold) the likely 2023 price of gold will have a large positive impact on the metrics. The Scoping Study was based on AU2,450 oz Au so adding another $400 oz will be transformative.
Early success in converting inferred to indicated gold will be a positive for Rox with the Midway resource looking very prospective (see diagram below)
Rox will have plenty of cash for 2023 with the sales of Fisher Gold and Eureka still to come.
That means they can deploy multiple rigs which will accelerate the feasibility process.
Being well cashed up also means Rox can run a vigorous exploration program.
Key targets are the Youanmi Shear regional project and Pincher Well (9m @ 15.6 g/tAu from surfaceincluding3m @ 35.2 g/t Au from 1m). See map of Pincher location near the Mt Magnet mill (RMS) below). But further exploration along the Shear Zone on Rox 100% owned highly prospective tenements would be on the cards. If the feasibility studies advance quickly Rox will likely become more adventurous in its exploration.
My opinion DYOR
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