Scoping Study and the Rox Board., page-2

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Antietam

89 Posts.

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08/10/22

15:37

Post #: 64098982
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Originally posted by m0ngy: ↑

In these perplexing times for us retail investors it's timely look closely at the Rox Board.

https://www.roxresources.com.au/corporate/board-management/#

My judgement is that the reputation of these industry leaders is far more important to them than their positions on the Rox Board.
Then look at the qualifications and industry experience of Board members, with a focus on feasibility studies and mine economics.
As a group they are responsible and accountable for the company's announcements and I personally have no doubt that the Scoping Study pre announcements that were very positive were evidenced based and make in good faith eg presentation at the Diggers
https://www.investi.com.au/api/announcements/rxl/20b11fcf-ef5.pdf
Then we have Hawke's Point, world class cornerstone investor, that also provides technical expertise to the Rox geo team.
Hawke's Point has a contractual right to appoint their own director and at Capricorn and Ora Banda they were quick to exercise that right.
They have not intervened with the Rox Board and by all accounts have a very supportive relationship with them..
I'm holding my Rox.

My opinions DYOR

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As far as "these perplexing times" are concerned, I'm torn. The delay re the pending Scoping Study is allowing me to add a few modest share parcels at a ridiculously low price as the funds become available, BUT the failure by management to apologise for or even offer a basic official explanation for said delay is to say the least disappointing. IMO genuine shareholders are entitled to that courtesy at least. I'm now assuming the relevant announcements will be made shortly before the Nov 30 agm but earlier would be welcome. Good job I'm in no hurry. PS: I'm not naive enough to think what any Hot Copper posters have to say makes an iota of difference to management.

RXL Price at posting: 24.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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