Proactive Investors - Run By Investors For Investors

Rox Resources CEO and MD buys 10 million shares on-market

The company is entering into joint ventures to explore the broader Youanmi shear zone.
Youanmi project overview
The Youanmi transaction is set for completion by late June

Rox Resources Limited (ASX:RXL) managing director and CEO Alex Passmore continues to show his confidence in the company's gold strategy with on-market share transactions.

On Wednesday Passmore purchased a further 10 million shares with a total value of $100,120, increasing his holding to 29 million fully paid shares.

READ: Rox Resources CEO and MD buys 3 million shares on market

This marks Passmore’s third purchase this month after acquiring 3 million shares valued at $30,036 earlier this week as well as 1.75 million shares at the beginning of the month.

Following the retirement of Rox’s inaugural managing director Ian Mulholland, Passmore was appointed as managing director of the company.

Since his appointment he has negotiated the recent acquisition of the Youanmi Gold Project and surrounding joint ventures.

READ: Rox Resources appoints CEO Alex Passmore as managing director

The Youanmi Gold Project, which hosts a 1.19 million-ounce JORC-compliant resource grading 2.97 g/t gold, is in the Murchison region of Western Australia and comes with a historical database of 550,000 metres of drilling.

The mine ceased operation in 1997 when the gold price was just above $400 per ounce.

View full RXL profile View Profile

Rox Resources Ltd Timeline

Big Picture
July 16 2019

Related Articles

Yaouré Gold Project in Côte d’Ivoire
April 03 2019
The company is expected to post its latest production figures later this month.
A gold nugget
March 31 2019
The Albury Heath project near Meekatharra now contains 35,479 ounces of gold.
Colluli is 75 kilometres from Eritrea’s eastern Red Sea coast
April 24 2019
Plans to build the 200-year fertiliser project are backed with a US$200 million loan facility.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use