Investors/funds and /or companies buying a stake in Rox have had to ramp up their efforts today with a solid buy price improvement.Accumulation is hampered by the 2:1 buy/sell ratio and a chart that screams buy rather than sell (see below).
Even with the buy offers sharply higher, today's volume was modest, and, likely, the target holding(s) have not been met.
The chart suggests 30 cps + this week.
The buyers are striking now because there is a lot of potential for near-term news that could rerate the company.
When Paddy’s Lode was first discovered Rox jumped to 48 cps.
Five rigs are spinning at Youanmi and some of the targets such as Pollards are potentially major new discoveries.
Apart from drill results, we can expect an MRE and Mine Plan update, environmental approvals, dewatering updates and the DFS with an updated reserve.
Phil Wilding has assured us that the Pathway to Production in 2027 (link below), with a DFS around August this year, is on track.
Rox has an exciting story to tell but is still flying under the radar.
That will change soon.
https://api.investi.com.au/api/announcements/rxl/cc3431e1-13d.pdf
(20min delay)