Ann: Rox to Unlock Value of Mt Fisher Gold Project Through IPO, page-20

Details from todays presentation.

• Historic mining at Mt Fisher in 1930’s
•Open pit mining in 1980’s
•Discovery of a new zone of gold by CRA in 1990’s
•Main project in Avoca Resources’ 2004 IPO
•Avoca purchased Higginsville in 2005
•Project acquired by Rox in 2011 from Avoca
•Rox defined gold resources 2011-2012, but then found nickel at Fisher East
•Resource base of 86,000 ozs@ 2.75 g/t Au
•Multi-million ounce potential

Such a long history of pass the parcel and now RXL is doing it again. Definitely not a confidence building history.
Some people are sore that they are not being given shares in Helios but we are probably better off for RXL to get whatever cash they can from the market and benefiting from that in the long run through RXL's non-gold activity.

Interest in the area becoming aggressive with
• Northern Star investment in Echo Resources, and Red 5 bid for Bullseye Mining
• Any resources established at Mt Fisher will be highly sought after

Looks like RXL expect Helios to be flogged off later on. That would happen if the asset was considerably under valued by the market or because insufficient resource is expected to build a stand-alone mine. Having said that, RXL refers to a target of 500Koz. Who knows - this is exploration after all.