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Rox receives up-front cash payment of $15.8 million for reward sale

2017-02-16 17:35:25  【Print】
BEIJING (Asian Metal) 16 Feb 17 - On February 16, 2017, Rox Resources Limited (“Rox”) announced that it has completed the sale of its interest in the Reward Zinc-Lead project with Teck Australia Pty Ltd (“Teck”).

The amount paid to Rox at completion totals $15,827,273.Asian Metal Copyright Additionally, there remains a deferred payment of $3,750,000 in cash due at the earlier of a Bankable Feasibility Study being completed on the project, or 6 years.Asian Metal Copyright A further $3,750,000 deferred cash payment is due as below.

The up-front purchase price is comprised of:
  • $7,850,000 in cash, being $8 million less the $150,000 deposit already paid; 
  • $2,727,273 in cash, which Teck elected to pay in lieu of the share component as provided for in the agreement; 
  • $5,250,000 in cash, being the value of the Promissory Note that Teck elected to pay up front. 
Additionally, there remains a deferred payment of $3,750,000 in cash due at the earlier of a Bankable Feasibility Study being completed on the project, or 6 years.

.Asian Metal Copyright The up-front purchase price is comprised of: $7,850,000 in cash, being $8 million less the $150,000 deposit already paid; $2,727,273 in cash, which Teck elected to pay in lieu of the share component as provided for in the agreement; $5,250,000 in cash, being the value of the Promissory Note that Teck elected to pay up front.Asian Metal Copyright

Zinc Ingot

99.995%min Shanghai

Unit:RMB/mt
China''s dIe-casting zinc alloy producers'' purchase volume for zinc ingot statistics by province by month
Unit: mt
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