Tier-1 miners such St Barbara, Ramelius or Evolution, who show little to no interest in acquiring the resource
Trier 1 miners have to justify spending a great deal of money in acquisition and then development of their acquisitions.
Their boards are convinced by feasibility studies or at the very least JORCs that show very obvious profitability..
Ramelius Resources got it right with the Penny Gold project with sound due diligence after Spectrum announced a robust pre feasibility study.
IMO they got it very wrong with their Apollo acquisition 29.1 Mt @ 1.2 g/1 for 1.2M oz Au.
Now their AISC margin is shrinking as the POG declines and Lake Rebecca will be just another low grade high Capex high AISC resource.
Point here is that Tier 1 companies require feasibility studies and the costs of TOs without them can be huge.
The first of Rox's feasibility studies will be announcing this quarter with its Scoping Study.
So it's not really a surprise that Tier 1 companies have not bid for Rox but unfortunately, the imminent Scoping Study may well change that.
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