Fisher East Option Terms Re-Negotiated

Fisher East Option Terms Re-Negotiated

  • 0
  • January 29, 2014

Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that it has re-negotiated the terms of the Option Agreement to acquire mineral tenements covering a portion of its Fisher East nickel sulphide project, 500km north of Kalgoorlie in Western Australia.

The original Option Agreement (ASX: 27 May 2011) had a term expiring on 30 June 2014, with an exercise payment of $3.5 million due on or before that date.

The new terms provide for an extension of the Option term for a further 12 months to 30 June 2015 as shown below. An additional payment in consideration for the extension of term of $200,000 will be payable by 31 December 2014.

READ MORE….