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Rox Resources non-executive chairman purchases 4 million shares worth more than $60,000

Youanmi has more than 10 million near-surface tonnes grading 1.65 g/t for 532,700 while the underground estimate is 2.413 million tonnes grading 8.5 g/t for 657,000 ounces.

Rox shares were up more than 33% in today’s trading

Rox Resources Limited (ASX:RXL) non-executive chairman Stephen Dennis acquired 4 million fully paid ordinary shares at a value of more than $60,000.

The transaction brings his total indirect holding to 8.2 million fully paid shares and 6 million options, half exercisable at 2.6 cents November 2019 and the rest at 2.4 cents exercisable at 2020.

READ: Rox Resources embarks on new era in gold

Rox recently took a new direction focused on gold after the appointment of Alex Passmore as managing director and chief executive officer.

The company is developing the Youanmi Gold Project in four jointly-held ventures with Rox Resources.

Rox can take its stake in the Youanmi mine venture to 70% with $2 million in exploration spending and a further $3 million in investment funds.

Quick facts: Rox Resources Limited

Price: 0.026 AUD

Market: ASX
Market Cap: $37.91 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