One of the most impressive upward revisions of the historical...

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.