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RXL - Rox Resources

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YOUNG_TRADER

YOUNG_TRADER

Joined
18 February 2006
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Damn tried to day trade this 30sec before pre-open finished, my bid was 50k@29c It opened @ 29.5c!!!!!!!!!!!!!!!!!!!!!!!!!

Has now run all the way to 52c :eek:

Bubble bubble toil and trubble!!!!!!


Ohhh reason it ran was it has 'discovered' a new zinc deposit in Laos (Nickel, Uranium, Gold, Copper and now Zinc, whats next Moon Rocks?)
 
The bulls have bought and sold its all the late comers now,

Ehhh, twas a missed day trade, not fussed there will be others
 
looks like its going to run another 100%
Buyers are building today
Undervalued with only 45 million shares
and a potentially huge Zinc Deposit
Drilling REsults out in 2 weeks
 
Rox Resources shares soar on find
Thursday Apr 27 16:16 AEST
Rox Resources Ltd's belief in its Pha Luang project in Laos has been
vindicated after a drilling program revealed a lead and zinc rich
mineral zone.

Shares in the Perth-based junior explorer rose 23 cents or 104.55
per cent to 45 cents by 1528 AEST on Thursday after the announcement
of the drill results.

Rox Resources hasn't had an easy run in Laos with its first set of
drill results from the steep limestone hills of Pha Luang, 180
kilometres north of the capital Vientiane, drawing a blank.

But the company persevered and released significant drill hits from
the Nam Yen prospect, including 33 metres at a grade of 11.4 per
cent combined lead and zinc, six metres at a grade of 11.6 per cent
and four metres at a grade of 26.2 per cent.

Peak values in the drilling area were grades of 30.3 per cent lead,
8.5 per cent zinc and 95 parts per million silver.

"I always had the conviction that it was just a matter of time
before we would prove that there was a significant sulphide deposit
there," managing director Ian Mulholland said.

"Given all of the surface outcrops I am still convinced that there
will be more than this one."

The Laos project is now the focus of the company with work
continuing to try to prove up Pha Luang as a major lead-zinc field.

Rox Resources plans to drill another 11 holes within the next two to
three weeks as it moves on from Nam Yen to the other potential
targets it has identified.
 
I snuck in the day before the halt at 44.. Would think it would be a capital raising question is how much who to and for what price.. certaintly was a lot of interest before ann...
 
Hmm wish they could have let it run a bit would have been able to riase it a bit higher if they left it a few days.. I got out at 49.. i think the sell off was a tad over done :/
 
Time to put this on watchlists again it has been moving over the last week, may be some news on friday. Cheers
 
Met the Md and Chairman last thur , very upbeat about the drilling program starting now, the general area with surface mineralisation, suggests it could host a districtof significant lead-zinc -silver deposits, an agressive drilling programe is planned over the next 7 months,with the first results coming out earlier Dec. 20 prospects have been defined over an area of 20km². I hold ,Cheers.
 
The market cap seems a bit high to me given that the company only owns 60% of the project, it's in Laos, and pretty early stage. DEG is more advanced, located in Australia, and owns 100% of its project. One of these two is mispriced I think. DEG $24m, RXL $16m. RXL's JV only covers sulphide ore as well, not oxide, although in this terrain there is not likely to be much in the way of oxide due to the hillside location and high erosion rates.
 
Does anyone else hold this stock, and do you have any ideas about it?

Wondering if it's worth holding or not. Bought it on a cursory glance at the charts, and to be honest, a gut feeling about it. Only own a small parcel so I'm prepared to wait this one out and see what happens in the future.

Of course, someone more knowledgable might be able to shed light on this for me! :)
 
RXL is currently only valued at 4.5M with about 2M cash from recent rights issue. I did a bit of comparison with OVR and IBG. The grades are quite comparable (OVR has slightly higher grade) so I think the comparison is useful.

http://spreadsheets.google.com/pub?key=tU1Va_hYxqlKpFec3nGP0zQ&output=html

I also found the following in the ann released on 17 Dec 2008. I understand the deal didn't come through, but if it did it would have valued RXL at 15M. Bear in mind that Zn/Pb prices are substantially lower back then

One Memorandum of Understanding (MOU) has been signed with a Chinese minerals company (“Company”). The MOU, which is non-exclusive and non-binding, is subject to confidentiality and records a proposed transaction, subject to a due diligence period expiring on 28 February 2009, whereby the Company may acquire an 80% interest in the Myrtle Project (EL10316) for a cash payment to Rox of A$12,500,000.
Click to expand...
 
Lazyfish,

What are yor thoughts on RXL? I noticed that Bowman tipped them on potential breakouts yesterday and they went up 18%.....had a good read through the annoucements today and it looks like they will be getting news at the end of September:

Do you think that with the trading today and over the last week the news has been leaked:

"Soil sampling in the area has shown a large north-east, south-west trending coherent soil anomaly. This anomaly trends along a boundary which is thought to be where the deposit comes to surface. If this is the case then there is potential for the entire 2km length of the soil anomaly to represent a resource capable of being mined by open pit methods, and this will be
investigated in the next phase of work. If an open pit is viable it would benefit the project economics significantly."

Maybe the news is out that the resource is at surface and can be mined open pit, well that's what the smart money is saying, what are your thoughts Smartfish.....I'm guessing to why the uplift has be something to do with the Myrtle zinc-lead deposit is located just 17km south of the large, world class, McArthur River (HYC) zinc-lead mine. Myrtle has significant advantages in terms of deposit location (Australia’s Northern Territory), geometry (open pit potential), and accessible infrastructure (already installed for the adjacent McArthur River zinc mine).

:2twocents :2twocents
 
bordercityfirm said:
Lazyfish,

What are yor thoughts on RXL? I noticed that Bowman tipped them on potential breakouts yesterday and they went up 18%.....had a good read through the annoucements today and it looks like they will be getting news at the end of September:

Do you think that with the trading today and over the last week the news has been leaked:

"Soil sampling in the area has shown a large north-east, south-west trending coherent soil anomaly. This anomaly trends along a boundary which is thought to be where the deposit comes to surface. If this is the case then there is potential for the entire 2km length of the soil anomaly to represent a resource capable of being mined by open pit methods, and this will be
investigated in the next phase of work. If an open pit is viable it would benefit the project economics significantly."

Maybe the news is out that the resource is at surface and can be mined open pit, well that's what the smart money is saying, what are your thoughts Smartfish.....I'm guessing to why the uplift has be something to do with the Myrtle zinc-lead deposit is located just 17km south of the large, world class, McArthur River (HYC) zinc-lead mine. Myrtle has significant advantages in terms of deposit location (Australia’s Northern Territory), geometry (open pit potential), and accessible infrastructure (already installed for the adjacent McArthur River zinc mine).

:2twocents :2twocents
Click to expand...

I didn't see this news but part of the deposit (where it comes to surface) most likely can be mined by open pit. I am not sure how big it is, haven't done any calculations. The rest will have to be mined by underground methods.
 
This one will just take time. Grab some and stick them away. You'd think they will eventually mine. The infrastructure nearby and already built and paid for.

Cheers
Maxmac
 
Have held this for a while and took profit today. Can't say I understand fully what is going on today but can't complain either.
 
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