- Rox Resources’ (RXL) Chief Executive Officer and Managing Director makes the decision to step down from the role
- Alex Passmore held the role for three and a half years and was considered a critical element in transforming the company through its acquisition of the Youanmi gold project
- Rox’s Non-Executive Director, Robert Ryan, will now take the reins as CEO and MD
- Mr Ryan’s appointment will be effective from October 24, with Mr Passmore assisting with a transition of up to three months
- Rox Resources is up 2.70 per cent to close at 19 cents
Rox Resources’ (RXL) Chief Executive Officer and Managing Director has made the decision to step down from the role.
Alex Passmore has held the role for three and a half year, and was considered a critical element in transforming the company through its acquisition of the Youanmi gold project.
During his leadership, the Youanmi gold resource was expanded from 1.2 million ounces to 3.2 million ounces – an increase of 167 per cent. He also led the demerger of Rox’s nickel and base metals assets into Cannon Resources (CNR).
Mr Passmore said both he and the company believe now is the logical time for a leadership transition. The move comes in line with the company commencing a pre-feasibility study to evaluate the restart of the Youanmi gold mine.
“I stepped in to reset a company, find a core focus, and then build a team to deliver on the company’s core asset agendas,” Mr Passmore said.
“The company has a clear path forward with Youanmi, and it’s a great time to transition the leadership to Rob to take Youanmi through the remainder of the feasibility phase and into mine development.”
Rox’s Non-Executive Director, Robert Ryan, will now take the reins as CEO and MD. The incoming leader comes with more than 20 years of experience in the resource sector, with extensive knowledge of sulphide gold and concentrates.
“Rob has the ideal skillset as a mining engineer with experience and a great track record in feasibility studies, and a deep knowledge of the technical and commercial aspects of sulphide gold operations,” Mr Passmore said.
Mr Ryan’s appointment will be effective from October 24, with Mr Passmore assisting with a transition of up to three months.
Rox Resources was up 2.70 per cent to close at 19 cents.