Rox the 2m oz gold bet

One of the most impressive upward revisions of the historical JORC is the Youanmi Deeps

The new JORC shows 210,200 oz au @ 8.23 g/t measured

657,900 oz au @ 8.48 g/t measured + inferred

Deep DD drilling into the Deeps resource is in its infancy with historical hits providing some of the data for the new JORC. It is likely that Junction is a lateral extension of the Deeps.
Rox is confident that the Deeps will grow to be a 1m+ oz au high grade resource

That is more than 3 Penny’s.
RMS paid $750 for each resource ounce of gold for Penny.

There are downsides; The Deeps is mostly underground mining of partly refractory ore.

The AISC will be double that of Grace at around $1200 oz au.

The Capex will be in the region of A$120m

Assuming an average recovery rate of 85% and an AISC of $1200 oz au the profit per oz will be around $970 oz au or approaching $1B over 10 years at todays POG.

But Rox also has 800,000 near surface ounces of gold. That is set to expand rapidly over the next months and a further upgrade will be announced in November.

Rox is quietly confident they will get 1 m oz au near surface gold and possibly a lot more.

Rox is now a 2 m oz gold bet with very good odds.