Ann: Rox to Unlock Value of Mt Fisher Gold Project Through IPO, page-5

They are hoping that you and I will come up with more funds. Don't you feel privileged?
ROX are still in early exploratory stage with Mt Fisher goldwise. Existing results do show some prospects but I agree, a lot further to go. 86 Koz of resource, not reserves, at present is hardly enough to build a gold company on. We need to see the prospectus with more details including the price before making final judgement.
If nothing else, it will put more funds into ROX for the other minerals they are prospecting and so we can hope to see more progress on that front.
They plan to retain 33% and so existing shareholders will still have exposure. They could have achieved the same outcome with a farm-in and I guess we will never know whether they tried this and failed to find a partner.
My thoughts right now are to let Helios list and see where the price goes, unless it lists at a very attractive price. Currently, I can buy Chalice with more interesting prospects at a negative EV (i.e. market cap. is less than the cash and equivalents on hand) and I have been doing so, hoping the cup fills up with gold dust.