RE:RE:BuyoutI'm new to the name -- a couple of weeks. I like what I see except for the fact that it has relatively low reserve numbers. Agreed with others who say that more Ozs need to be proved up. Hopefully this happens Q4 as results need to come out. We will basically know the range for revenues given production guidance and prices averaging $1275ish on the low end for Q3.
The drill results can go both ways i.e. increased P&P or very little increase. Either can happen. I'm assuming there will be a pop if increased ozs are found. This is the main overhang I figure. Mind you I'm no predictor of price here. I was a holder of Avion Gold now Endeavour Mining. It took ages for any share price increase. Avion prices went from the $1.20 + level down to .40-.50 cent level a number of years back. Only when Avion expanded resources, got gobbled by Endeavour, built mines and proved that it was committed to driving costs lower did the share price pop. It had a 10:1 consolidation but still only a roughly 5 bagger in about 6 years. Not bad but see similar comparison here b/w Avion and Roxgold.
Roxgold is profitable but future mining is in question, hence the needing to prove up resources and reduce risk by building up more mining areas. Just my 2 cents. It would be nice to have a multibagger here. I just don't see it unless many more Oz proven. Then again, if gold spikes, all bets are off and we're off to the races ! We can dream ?
Best luck all,
sb