The directors of Rox Resources Limited (ASX: RXL) ('Rox' or 'the Company') are pleased to advise that agreement has been reached with farm-in and potential joint venture partner Arafura Resources to extend the stage 2 earn-in period on the Bonya project by 1 year.
Rox is earning-in to the Bonya project via a Farm-in and Joint Venture Agreement with Arafura Resources Limited ('Arafura'). Rox has already earned a 51% interest by expenditure of $500,000 between 10 December 2012 and 10 December 2014. Rox elected to continue to earn-in to the project and increase its interest to 70% by expenditure of a further $1,000,000 by 10 December 2016.
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