The 28M shares are out of escrow now and belong to all Fox shareholders as far as I am aware and is now a stake in the ARV/TSX-NVO JV Karatha Gold and Jungle creek was a earn in drill in at 10 out of 14 PLS tenements for base metals to feed the Radio hill processing mill on what is shaping up to be some of the hottest gold and cobalt real estate on the planet but is now lost to that tactical blunder along with chasing after coal although is is a premium huge hard coking coal jorc compliant along with neighbouring International coal with existing infrastructure I place including nearby ports, nobody wanted to do a off take agreement so we got screwed including Gina Rhinehart ? a major share holder (at that time atleast) ? in International coal but there maybe light here ?
It was a different time back in that eara when the price of base metals including gold were so low it wasn't worth even pulling them out of the ground and now cobalt from geo stable is hot to satisfy the upcoming EV industry and there appears to be cobalt in the area that's up with or better than the highest grades on the planet.
FOX ran out of cash and according to a local helicopter pilot Johnathan C (on ARV hot copper) who had a eagle eye veiw of local artisan gold prospectors pulling gold nuggets at surface using metal detecters claimed that Fox had relinquished some prospecting leases that were in the pay dirt because they had no money to pay the lease rent but he just sold a couple of local leases of his own to Novo ?
I wonder what is left in the way of Karatha turf to Fox ? but atleast there's the stake in Karatha gold heading north
Correct me if I'm wrong
FXR Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held