As announced on 31 March 2023, Rox and Venus entered into a binding agreement to consolidate their respective ownership interests in the Youanmi Gold Project in Western Australia.
The transaction is subject to several conditions precedent, including satisfactory completion of mutual due diligence. Rox and Venus are pleased to confirm the parties have completed their mutual due diligence, and the results of that due diligence are satisfactory to each of Rox and Venus.
The transaction remains subject to a number of other conditions precedent, including (but not limited to) Rox and Venus shareholder approval, regulatory approvals and material third party consents, which Rox and Venus are now working to complete in accordance with the indicative timetable detailed below*.
To view the Transaction Timetable, please visit: https://abnnewswire.net/lnk/ZT821TA0
About Venus Metals Corporation Limited:
Venus Metals Corporation Ltd. (ASX:VMC) is a West Australian based Company with a focus on gold, base metals, vanadium and lithium exploration projects. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north-east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%); Indicated and Inferred Resource of the mine is in excess of 3 million ounces of gold.
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Perth, Australia - Rox Resources Ltd. (ASX:RXL) and Venus Metals Corporation Ltd. (ASX:VMC) are pleased to provide an update on the Youanmi Gold Project transaction.
