penny west connection?

  1. 29.0k

    3. If the answer to question 1 is “no”, is there any other explanation that RXL may have for
    the recent trading in its securities?
    On 10 April 2019 the Company announced it acquired a 50% interest in the 1.2Moz Au
    Youanmi Gold Mine and up to a 50% interest in the gold rights to the broader Youanmi
    shear zone which includes a significant tenure position along strike and surrounding the
    high-grade Penny West gold deposit. Since that announcement there has been a steady
    increase in the price of and volume traded of the Company’s shares.
    On 22 July 2019 the Company’s joint venture partner, Venus Metals Corporation Limited
    announced RC drilling had recommenced at the Currans Find prospect and that in early
    August a 5,000m aircore drilling program will commence north of the historical Penny
    West gold mine, the historical Magenta and Columbia gold prospects, and the recent
    Penny North gold discovery by Spectrum Minerals Ltd, c. 2-4km to the south and along
    strike of the area to be tested by the AC program.

  2. 29.0k

    boom $$$$$$$$$$$$ vmc as well will see

  3. 29.0k

    Investment Highlights
    The Company is focused on gold and nickel assets in Western Australia including the
    Youanmi Gold Mine 50% owned, Mt Fisher Gold Project 100% owned, Fisher East and
    Collurabbie Nickel Projects
    The Company’s flagship project, the Youanmi Gold Mine was recently acquired and has
    produced 670,000 ounces at 5.4g/t Au which closed in 1997 when gold price was A$400/oz
    The project has a confirmed Mineral Resource Estimate of 1.19Moz Au. With significant
    upside potential including a database of circa 550,000m of drilling has been analysed
    and confirmed
    The Company is focused on increasing resources, converting resources to mineable
    reserves and developing its projects into producing mines.
    The Company is well-funded to pursue it’s current projects with approximately $7.8 million
    in cash and receivables (as at 30 June 2019).
    Significantly expanded nickel tenure with the acquisition of additional 40km of prospective
    strike adjacent to the north of Rox’s Mt Fisher / Fisher East Project. Drill planning
    Strong Newsflow pipeline with drilling programs ongoing across the project portfolio
    Youanmi Main Pit and Plant
    Corporate Information
    Capital Structure
    ASX Code: RXL
    Shares on Issue: 1,291M
    Share Price: A$0.028
    Unlisted Options: 65.8M
    Market Capitalisation: $36.14 M
    Cash & Receivables*
    (at 30 June 2019): $7.8M
    Debt: Nil
    Top 20: 18%
    * A$3.75 million deferred payment from Teck for Reward sale, plus
    $0.15 million in ASX listed shares and $3.9 million in cash (as at 30
    June 2019)
    About Rox Resources
    Rox Resources Limited (ASX:RXL) owns advanced gold and nickel exploration projects in Western Australia, including the Mt Fisher Gold Project,
    the Fisher East and Collurabbie Nickel Projects. The Company has also recently acquired the Youanmi Gold Project with Venus Metals
    Corporation Limited (“VMC”) through a 50% ownership, with the ability to increase ownership in the mine to 70%.
    RXL AU
    (12 months)
    Daily Volume ('000, Weekly Ave) RXL Price (Close)
    Asset Summary
    Gold Projects Nickel Projects
    Youanmi Gold Project
    4 JVs with Venus Metals Ltd. Mine area JV Rox holds 50%, earning
    up to 70%. Venus Metals manages regional projects (other 3 JVs)
    until Rox moves to 70% on the mine area JV.
    Individual deposit names: Youanmi South, Main Pit, Hill End,
    United North, Kathleeen, Rebel, Kurrajong, Commonwealth,
    Currans North, Currans
    Located in WA south of Sandstone
    Mine area JV (OYG JV) has Resources of 1.2 Moz, Existing
    Infrastructure and CIP plant (requiring refurbishment)
    Mt Fisher Gold
    Located in WA east of Wiluna
    Western Margin of Mt Fisher Greenstone Belt
    Mt Eureka Gold
    JV with Cullen Resources (Rox can earn up to 75%) Located
    adjacent and north of Mt Fisher
    Continuation of Western Margin of Mt Fisher Greenstone Belt
    Fisher East Nickel Project
    Individual deposit names: Camelwood, Musket, Cannonball, Sabre
    Located in WA, circa 150km east of Wiluna
    Eastern Margin of Mt Fisher Greenstone Belt
    Resources of 78kt of contained nickel, scoping study completed
    (2015, internally updated 2017)
    Mt Eureka Nickel
    JV with Cullen Resources (Rox can earn up to 75%)
    Located adjacent and to the north of Fisher East nickel. Contains
    part of the strike extension of the basal contact along which Rox’s
    nickel deposits occur
    Northern Continuation of Eastern Margin of Mt Fisher Greenstone
    Collurabbie Nickel
    Historical WMC Resources project, Located 150km east of Mt

  4. 29.0k

    2.4 raise 125 mill shares

  5. 3.6k

    good chart same as VMC partner..

  6. 5.8k

    Break of 5c is on.

    Huge vols and interest today

    More results show see it continue.

    Spec gold sector right in play atm.

  7. 3.6k

    break of 6 fresh air to 2012 high of 10 cent high bull bull story dyor makes vmc dirt cheap

  8. 5.8k

    Sold and didn't try to chase it last 2 days,as expected gap close,low 6s never came before next wave.

    MC@ 8.5c=124m

    10-11c before it looks for higher low next level of support most likely scenario imo....good chance Sandy.

    11c will put it at just over $150m mc. Very attainable in current environment.

    Gold on retrace from highs...if/when it does make new highs,hysteria could see it double yet again.

    1 like
  9. 5.8k

    Good numbers for Tolga...yet again.

  10. 3.6k

    corporate play maybe in play by the looks VMC still cheap...imo dyor....go hlx hip

  11. 3.6k

    Youanmi Exploration Update: New
    exceptionally high gold grades extend
    Grace Prospect strike length to 700m
    • New, very high-grade results encountered at Grace extend strike
    length of mineralised envelope to 700m
    • Best intercept in this round of results from drillhole RXRC239: 13m
    @ 60.49g/t Au from 177m, including 4m @ 191.56g/t Au from
    • Elsewhere drilling at the Youanmi Gold Project has continued to
    deliver impressive gold grades with other highlights including:
    RXRC310: 4m @ 18.53g/t Au from 88m (Grace)
    RXRC308: 3m @ 22.67g/t Au from 10m (Grace)
    RXRC305: 3m @ 10.26g/t Au from 107m (Grace North)
    RXRC312: 3m @ 5.72g/t Au from 217m at EOH (Grace
    • Rox MD to host webinar to discuss results (details below)
    Australian gold and nickel company, Rox Resources Limited (“Rox” or “the
    Company”) (ASX: RXL), in conjunction with its joint venture partner Venus
    Metals Corporation Limited (ASX: VMC) is pleased to provide an update on
    exploration activities at Youanmi in the OYG JV area (Rox 70% and
    With the receipt of new drilling results the Company continues to refine its
    interpretations and exploration model for gold mineralisation that continues
    to be discovered within the Youanmi Granite. These results confirm that
    Grace mineralisation is hosted within strongly sheared, fractured and altered
    granite within a broad mineralised corridor trending NNW. This structural
    corridor within the Youanmi granite, and its orientation, had not been
    recognised at Youanmi by previous explorers and miners
    The high-grade intercept in RXRC239 (13m @ 60.49g/t Au) is 550m along
    strike of, and within the same mineralised structure as, the previously
    reported intersection of 25m @ 34.79g/t Au in RXRC287 (see ASX 16 June
    2020). See Figures 1 to 3 for additional context

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