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Rox takes ownership of Youanmi

7th July 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Rox Resources has now taken full ownership of the Youanmi gold project, in Western Australia, after completing a transaction with fellow listed Venus Metals Corporation.

Rox and joint venture (JV) partner Venus earlier this year entered into a binding agreement to consolidate their respective ownership in the project, with Rox acquiring Venus’ gold interests in each of its Youanmi JVs, which includes 30% of OYG JV, 45% of Youanmi JV and Currans Find JV, and 50% of Venus Metals JV for consideration of 110-million fully paid ordinary shares in Rox.

Venus retains its non-gold interests in the Youanmi JV, Currans Find JV and Venus Metals JV, as well as its interests in its non-Youanmi gold assets.

Rox on Friday confirmed the appointment of Venus MD Matthew Hogan as a nonexecutive director of Rox, as Venus’ nominee.

Edited by Creamer Media Reporter

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