Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to update its corporate objectives following completion of the sale of its interest in the Reward Zinc-Lead project.
The proceeds from the sale of Reward total $19,727,273 are comprised as follows:
- a cash payment of $15,827,273 recently received (refer ASX release 16 February 2017)
- a $150,000 deposit (previously received); and
- a deferred cash payment of $3,750,000 (due at the earlier of a Bankable Feasibility Study being completed on the project, or 6 years).