Performance by RXM on making progress on Hog has been dismal. Shareholder value in Hog has been impaired in the period since initial resource upgrade to 2M oz. Directors are not performing on this front
Normal gold exploration in WA can range from $25-$100/oz. Adding another 1Moz could cost up to $100M for what end. Focusing on conserving cash until Hillside is funded given it is permitted is financially prudent by the Board. The Bells scoping study was already positive. The question is how much extra dollars are required for permitting and studies and why spend that now rather than conserve cash and get Hillside over the line. Hog is an iron in the fire.
Whats going on with Hog Ranch?, page-12
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