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Rox Resources Limited

Rox Resources CEO and MD buys 3 million shares on market

This is the executive’s second share purchase already this month.

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The company is eyeing the re-emergence of the Youanmi Gold Project

Rox Resources Ltd (ASX:RXL) managing director and CEO Alex Passmore has purchased 3 million shares in the company through on-market trades.

The $30,036 purchase increases his overall holding in the company to 19 million shares aligning him well with shareholders.

Notably, the buying follows his recent 1.75-million share purchase.

READ: Rox Resources new MD acquires shares in on-market transaction

Rox recently confirmed a 1.19-million-ounce JORC-compliant resource grading 2.97 g/t gold at the Youanmi Gold Project in Western Australia.

In an investor presentation last week, Rox outlined its plans to undertake an aggressive near-mine exploration program and pre-development work at Youanmi.

The Youanmi Mining Centre produced 670,000 ounces at 5.4 g/t gold and was closed in 1997 when gold price was A$400-450 per ounce versus today’s price of around A$1,800 per ounce.

Quick facts: Rox Resources Limited

Price: $0.03

Market: ASX
Market Cap: $33.57 m
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Rox Resources continues drilling at Youanmi Gold Project

Rox Resources (ASX:RXL) chief executive officer Alex Passmore updates Proactive Investors on progress at the Youanmi Gold Project in WA. Passmore says the company, which has been drilling at the project for the last couple of weeks, is set to continue drilling until September. “The Youanmi...

on 13/8/19

2 min read