RXL 0.00% 22.5¢ rox resources limited

The big picture

  1. 10,075 Posts.
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    It's easy to look at a batch of drill results and jump to unwarranted conclusions. For example, the Youanmi South results looked disappointing but here is the broader assay context.
    4m @ 11.2 g/t

    12m @ 12.7 g/t

    9m @ 13.8 g/t

    4m @ 11.2 g/t

    1m @ 29.2 g/t

    18m @ 2.5 g/t

    5m @ 2.5 g/t

    11m @ 0.7 g/t

    8m @ 19.9 g/t inc 4 @ 36.3 g/t

    4m @ 5g/t

    Younami South will provide more excellent results and it is an important part of the JORC that Rox is growing.
    In the big picture many junior goldies are self promoting their resource but they will be left high and dry with stranded assets.
    MDI released their Feasibility Study yesterday.
    They need a Capex of about $60m but are only profitable with gold above $2,500 oz au.
    Their share price is down about 40% since that ann.
    With an AISC of $600 oz au and Hawke's Point on board Rox is one of a select that don't have to worry about that scenario.
    We are in the select company of MGV and DEG
    Few other goldies can be as confident.
    Another lesson over at Sandstone with Alto (AME) up 14% today.
    They have had some good high grade hits, though so far not a patch on Grace.
    But West Gold snapped up 8% of the company and is probably buying on market.
    Accumulation is certainly underway.
    Shows that high grade au resources are rare and are being hunted down by the big producers.
    In the big picture Rox will end up with a JORC that will support Canaccords option 1 startup with first production next year.
    Patience is needed. 2022 is a big year for Rox, 2021 is exploration, the JORC and ground work for the restart.
 
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