A Scoping Study is underpinned by a solid resource so with both the Study and the Resource Upgrade due this quarter it makes sense for the upgrade to be announced first. Rox tweeted the following today.. a hint I would think that the resource upgrade will be very strong. . An excellent outcome would be 3.5M oz au but the grade will be just as important. Most of the drilling has been near surface so the Deeps at 9,900,000 @ 6.89g/t for 2,194,000 oz Au may not have changed But the near surface which was 18M t @ 1.7g/t for 1,004,000 oz Au may well have jumped both in gold ozs and grade + strong conversion from inferred to indicated and measured. Rox is bigger than RMS now and approaching half the size of DEG's monster resource (see below) and Younami has a much higher grade than both. Compare the market valuations.
RXL Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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