Sorry to see you exit GoldPirate, I enjoyed your well thought out posts.
I do think you are jumping the gun by selling out on the basis of non reporting on the shallows.
Reporting on the Near Surface Resource will be part of the JORC update coming before June, not so long to wait.
Rox has kept that resource in the spotlight by repeatedly mentioning it. As you probably know anything no longer mentioned may be a failure and
vice versa.
The exploration plan within the recent investor presentation has a target between United North and the main Youanmi pit, I'm pretty sure that area will add substantially to the shallow resources.
Then we have Grace which was a disappointing 109,000 high grade ozs. There is a research report that suggests infill drilling it to grow the ozs and that lowering the cut off grade would also add a lot more ozs at say 4g/t.
It wouldn't surprise me if Rox had already infill drilled it, they don't tell us everything they do.
Near Surface Resources are currently 800,000 ozs Au@ 1.69 g/t.
There are plenty of companies mining grades well below that but they have big plants costing more than $200m.
With large cost pressures Rox will be aiming for a Near Surface Resource at more like 3 g/t.
The Near Surface is oxide free milling gold with a very high recovery.
I think that Rox will deliver a 1- 1.5 Moz shallow resource and select a 1.2Mtpa plant, processing ~3g/t Au free-milling ores.
The JORC and Scoping Study will be announced before June so we will soon find out.
Not a time to sell Rox imo but good luck with your other investments.
- Forums
- ASX - By Stock
- THE PREDICTORS - YOUANMI SUPER PIT.
Sorry to see you exit GoldPirate, I enjoyed your well thought...
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RXL (ASX) to my watchlist
(20min delay)
|
|||||
Last
16.0¢ |
Change
-0.008(4.48%) |
Mkt cap ! $62.87M |
Open | High | Low | Value | Volume |
17.0¢ | 17.0¢ | 16.0¢ | $139.0K | 842.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 986679 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 46791 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 986679 | 0.160 |
10 | 483290 | 0.155 |
9 | 318842 | 0.150 |
5 | 185689 | 0.145 |
2 | 76428 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 46791 | 1 |
0.170 | 419915 | 4 |
0.175 | 79581 | 2 |
0.180 | 181185 | 6 |
0.185 | 232334 | 3 |
Last trade - 16.10pm 28/05/2024 (20 minute delay) ? |
|
|||||
Last
16.5¢ |
  |
Change
-0.008 ( 2.94 %) |
|||
Open | High | Low | Volume | ||
17.0¢ | 17.0¢ | 16.5¢ | 97491 | ||
Last updated 14.18pm 28/05/2024 ? |
Featured News
RXL (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online