Reworking tenements held by majors is the least risky way of...

Reworking tenements held by majors is the least risky way of conducting exploration for junior explorers. The scale of deposit required by majors plus the price of the commodity at the time warranted discovery of very large deposits and hence early abandonment of many projects.

In general the major's greenfleids exploration programme can never be as detailed as juniors due to the large number of greenfield projects the majors hold. ie. they'll poke a hole here and a hole there half a km away and they'll intersect a bit of anomalous metal of interest but nothing to jump up and down about so they'll let the project go as they might have other 100s of projects like this to explore with a limited budget.

Later on, a junior will come back and follow up on the previous anomalous results with the current commodity price and a deposit target suited for a small company and take a bit more risks. ie. drill more holes. Most juniors don't find anything better but some do and I believe ROX has found something much better here at Mount Fisher.

Whether this particular deposit becomes economical or not, it is this low risk exploration strategy taken by ROX that keeps me as a longterm holder. The JV of Bonya project is another example of such good tactic. Acquire projects with grounds littered with old workings and surface shows. While this might not technically be a true discovery, who cares? finding something bigger and better than the previous explorer did and perhaps economical, is just as good as a new discovery without the risks associated with exploring virgin ground.

These are my own opinions only, good luck to all holders, short term and long term.