Good pick up smartdude and you make excellent points. So Rob Ryan and Chris Hunt will be at the RRS on the 1st Feb probably showcasing the MRE. Expect a Trading Halt soon but probably close to the RSS presentation to build on the momentum of the MRE ann. Let’s see if Rob confirms the June date for the PFS. I think he will.
The MRE and the PFS should both light up the share price but I have to disagree on a point you make about one market mover 4) RXL management starting to make noises about how bankable the project is, making the market enthusiastic about the ultimate financing success of Youanmi.
Unfortunately, Rox has a reputation for big talking and disappointing delivery eg Grace, visible gold, a Scoping Study that was 36% short of indicated gold and more recently Paddy’s Lode. Underpinning disappointing delivery are claims that do not stand the pub test with geos at the bar, eg gold in granite as a geo breakthrough and more recently the revelation that the best place to find more gold is near existing deposits as if the old timers at Youanmi didn’t know that. Rox can not talk the share price up, the market will only respond to robust data. So let’s hope that Rob Ryan will deliver what he promised, MRE metrics that will please us. I think he will.
If you look at another Hawke’s Point investment in Capricorn Metals (now a $1.64B company) the company was also out of favour for taking too long to get into production and it was only at the pointy end close to building the mine that the share price exploded.
The Rox MRE, PFS and the FS will see the share price light up as the project is progressively derisked but the DFS the FID and most important of all injection of mine building capital are the truly powerful catalysts. If the metrics are good, Hawke’s Point will provide or organise the pre development cost. Rob Ryan is a feasibility studies expert with an excellent track record at Bardoc so we can expect rapid progress, perhaps even the DFS this year?
What’s a company that can produce 100K oz of gold PA with a free cash flow of $200m PA with a long LOM worth?
RXL Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
