The main trouble with Rox is their shares out, and their need to do narrow narrow vein mining. They have competent financial managment, experienced underground and surface operations personnel, and are as tight fisted as scottish tax collectors.
So it is still an uphill battle convincing investors that building a mining enterprise that is 300 tons here and 200 tons there with a smallish mill right now, is a good paper play. Usually they aren't. I told Murray Pollit that Rox is an order of magnitude bigger than River Gold. He laughed. He did not believe me. He told me that River which has traded at 1.50 to 2.50 on 50 million shares out, had mined 750,000 ounces. Well I can see those ounces in any one of 5 of Rox's properties and their predecessors had mined 2 million ounces from their properties. They can mine that much again, and more. No problem. I can see 1.1 million without too much extrapolation to 1100 feet in two properties, and we can go to 4000 no problemo. Can we mine narrow vein? Yes, it aint that bad. Back support and all is all figured out. The trick is to mine in ptygmatically folded veins by long hole lateral and vertical without dilution. we have a method, and it is safe, but it takes trying and measuring dilution/recovery. I think it can be done above 0.30 OPT and could be done in 4 properties at a rate of 300 tpd per property. That is 360 oz/ day. That is 100 million cash flow per year. It would require at the end of the day about 85 million to finance, partially out of revenue, partially debt and partially in the market. I think it will take more than just Rox to do it, but will require at least one other entity. Nevertheless the shareout/dilution equation is the same thing at the end of the day.
It will be done. It is a matter of time. I say in 3 years it can be done. Share price is conjectural. I would say a sure fire three bagger with a market and dividends is better than maybe a ten bagger and maybe not. It may get to 80 cents someday. I am hoping it will. As a mining enterprise it is more 1930's style than today, but it is one of the best resource bets to produce of the jr's on the TSXV today. You need production people who want to chew on that bone. With a deep breath and some fortitude that is I think their destiny.
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