Rox said the Scoping Study was expected to be released in Q3 after they had delayed it a few times so fairly predictable it would be tomorrow or next week. They have also said they expect it to be positive.
It's possible a trading bot has been accumulating at around 25 cps for weeks now by both selling to keep the price down and hit stop losses and then buying cheaply. Now the accumulation is complete the SP is reacting as it should have some time ago. It will be interesting to see how high it goes on a positive study. Back to the 40 - 50 cps range is what I expect, depending on the financials of the study, free cash flow, etc plus the mine life - 10 years or more Imo. .
Rox SP, page-26
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13.5¢ |
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Mkt cap ! $55.17M | |||
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