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).
Rox Receives Up-Front Cash Payment of $15.8 Million
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").
Rox Signs Reward Sale Agreement
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.