Ann: Rox Rewarded with up to $20.6 Million for Zinc Project Sale,MZN-RXL.AX, page-43

Thanks Yacheng – nice one - and Cheeta; also Kates9999 for your Collurabbie comments. Adding to my earlier post, I see Collurabbie this way:

1. It had some good, high grade hits and as Rox’s MD said at acquisition time, it was “the talk of the town” at one time.
2. The inclusion of copper and PGE elements and minor levels of cobalt (yes!) and zinc gives nice value adding potential if some more nickel can be found. This might come from:
   1. down plunge extensions of known mineralization; or
   2. new discoveries, since it seems that little regional exploration has been done. Given that the existing discoveries included some high grade hits, any future discoveries may find more high grade.
3. Because it’s only 70km from Fisher East , there could be development potential one day with Collurabbie tonnes added with Fisher East tonnes i.e. something other than standalone might pass muster. This is a potential value-add for Fisher East and, as such, is unique to Rox. Looks like a clever strategic fit. Nice pick-up.
4. There’s some gold there too - needs more exploration - but Rox are good explorers. With 100% of the equity, if it's worth doing a lot of exploration there is enough equity to offer some in a farmout, in return for some carry on exploration costs. Nice to have, for basically no cost.
5. Acquisition cost was good, as you say Kates. $25, 000 plus 7.5M shares means that we get a look at an interesting piece of ground without being diluted with a cap. raising. I think management did a good job identifying that Falcon had good ground which could be picked up on attractive terms because they had moved to the IT space. Nice strategy; well executed.
6. Once we get the Reward sale proceeds Rox will have a chance to explore Collurabbie, again without a dilutionary cap. raising.
7. Similarly, we’ll be able to follow-up the hits at the new zones found at Fisher East, with a view to establishing critical mass for the nickel generally.

I don’t know what the drill bit will reveal, but I see good potential for a bit of drilling excitement in 2017. Not to mention that Doray may find something when they start drilling the Mt Fisher gold JV.
Also, I'd love to get some really good exploration hits without the perception of a near term cap. raising hanging over our heads.