Too much is happening next week for MD Phill Wilding to attend the Prospectors & Developers Association of Canada (PDAC).
International mineral and development conference. The is the leading voice of the mineral exploration and development community, representing over 8,200 members around the world.Rox is likely to announce FID with the Youanmi Gold Project fully funded to first gold pour next year.
That is a derisking milestone that should see RXL gain 20 – 20% in market valuation.The share price of Hawke’s Point stable mate Capricorn Metals took off dramaticallty when they announced FID in mid-November 2019 and the current share price is $14.72.The price of gold has punched through a critical inflexion point of $USD 5,200 oz opening up much higher targets.Support Factors: Central bank purchases Safe-haven demand Geopolitical risks and declining confidence in financial assets global institutions predict even higher levels: Goldman Sachs: around $5400 by end of 2026 Morgan Stanley: ~5700 UBS: ~5900 JP Morgan: up to 6300 in an optimistic scenario. $US5500 - $US6000 is within a normal expected range, not necessarily the ultimate peak.In AU that’s around $7,700 - $8,400 oz.The AISC margin on Youanmi gold is then $5,400 - $6,200oz (approx because AISC increases with the price of gold).RXL is worth at least $1 a share.
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