Timelines may be a long way out but almost always with Rob Ryan at the helm they will be shorter than the plan. Take the 6 months inferred to indicated drilling timeline. Of course, it depends on exploration success but also on the no of rigs. Rox has raised more money than they had thought they would with the large oversubscription of their share issue to retail and also form Hawke's Point who are now tipping in more to maintain their % of the company. Rox can afford to put more than one rig in the field, perhaps 3, in their conversion drilling campaign. With some drilling success and multiple rigs I'm predicting 3 months to complete the conversion drilling and the PFS by June. Concurrently, regional exploration drilling along the shear zone from the Penny mines to the Youanmi main pit was initially funded by Hawkes Point and will get another $1m or so to continue the search for a third Penny.
My Opinion DYOR
RXL Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)