Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to advise that it has completed the sale of its interest in the Reward Zinc-Lead project with Teck Australia Pty Ltd (“Teck”).
Category Archives: Announcements
Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) wishes to advise that it has signed the definitive Sale and Purchase Agreement with Teck Australia Pty Ltd (“Teck”) pursuant to which Teck will acquire Rox’s interest in the Reward Zinc Project as previously announced (ASX:RXL 19 October 2016).
Completion of the transaction is anticipated by mid-February 2017.
The funds received from the sale of the Reward project interest will allow Rox to pursue its Fisher East nickel and Collurabbie* gold-nickel projects, and also to consider other mineral opportunities that may be of value to shareholders.
Rox Resources Limited (ASX: RXL) (“Rox”) is pleased to announce that it has reached an agreement with IMI Zinc Exploration Pty Ltd (“IMI”) for the settlement of any and all claims in connection with an offer made by IMI on 18 July 2016 to acquire Rox’s interest in the Reward Zinc Project (“IMI Offer”). Under the settlement agreement, Rox will pay to IMI a total sum of $220,000 for IMI’s reasonable expenses in respect of the IMI Offer. The payment comprises $20,000 cash payable immediately and $200,000 cash payable either on settlement by Rox of the sale of its interest in the Reward Zinc Project, or when a significant (>$500,000) capital raising is completed, whichever occurs first.
Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce it has been awarded a further grant under the WA Government’s Exploration Incentive Scheme (EIS), for $119,200 to support exploration at the Company’s 100% owned Fisher East nickel project, located 450km north of Kalgoorlie in Western Australia (Figure 1).
The co-funding will be allocated to deep drilling at the Camelwood deposit which is one of several nickel sulphide deposits at the Fisher East nickel project (Figures 1 & 2). Under the EIS guidelines, the funding covers direct drilling costs which Rox is required to match.
On 15 November 2016 Rox Resources Limited (ASX: RXL) (Rox or the Company) advised that it had received correspondence from legal representatives acting on behalf of Marindi Metals Limited (ASX:MZN) (Marindi) in which Marindi has alleged that it considers the Company remains bound to complete the sale of its interest in the Reward Zinc Project to Marindi, notwithstanding the exercise by the Company’s joint venture partner, Teck Australia Pty Ltd (Teck), of its pre-emptive right over the project.