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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.

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