Latest news with #RoxResources
West Australian
2 days ago
- Business
- West Australian
Venus lands hefty 38g/t gold hit at promising WA Sandstone project
Venus Metals Corporation has tapped into a golden hot streak after new drilling at its promising Bellchambers and Rangeview prospects near Sandstone in Western Australia unearthed a sizzling 1m hit grading 38.3 grams per tonne (g/t) gold. The company's latest 34-hole reverse circulation drilling campaign, totalling 1749 metres, added more juice gold to its existing resource at Bellchambers and sharpened the exploration focus on the company's nearby Rangeview prospect. The results are expected to fast-track an updated resource estimate, potentially upgrading parts of the resource from indicated to measured status. Standout hits at Bellchambers include a juicy 19m grading 3.74g/t gold from just 11m downhole – with a blazing 1m at 38.3g/t – along with a 29m hit going 1.55g/t from 11m and 30m running at 1.72g/t from 45m. Over at Rangeview, the rig nailed 13m at 1.60g/t gold from 19m and a 18m find at 1.24g/t from 47m, spiced up by a 1m strike going 11.5g/t gold. Venus says the results hit the mark, backing up the known gold zones across both prospects. Notably, the drill campaign plugged key gaps in the existing Bellchambers resource, which already hosts 722,000 tonnes at 1.31g/t for a handy 30,500 ounces gold. Venus Metals holds a commanding 90 per cent stake in the 125-square-kilometre Bellchambers project, 23km southwest of Sandstone. It also holds 55 million shares worth more than $16 million in Rox Resources, which owns the nearby monster 2.3-million-ounce Youanmi gold project. Venus says the new results support its plans to push the project towards potential development, with near-surface oxide mineralisation at Bellchambers being a key focus for upcoming test work and metallurgical studies. A diamond drilling campaign is now in the pipeline to tighten resource estimates and gather fresh samples for processing studies. Adding to the reams of new data, the company is also collecting representative samples to validate metallurgical recoveries as a key step on the road to production. Structurally, gold at Bellchambers and Rangeview prospects is tied to quartz veins and sulphide-rich zones within sheared sedimentary and mafic rocks. The steeply dipping mineralisation runs down to about 45-50 metres, making it well-suited to open-pit mining. With a mine-gate sales agreement already in the mix with Rox Resources, Venus is well-positioned to potentially monetise its gold ounces without the heavy lifting of building a standalone plant. The Sandstone region, already peppered with historic gold workings, appears to be continuing to deliver for Venus. And with a refreshed resource estimate due in the next two months, punters may not have to wait long to see just how much more gold could be added to the ledger. This latest round of drilling has confirmed Bellchambers and Rangeview remain fertile hunting grounds and Venus is keeping the drill rigs warm for more discoveries. Is your ASX-listed company doing something interesting? Contact:
Yahoo
12-03-2025
- Business
- Yahoo
Individual investors among Rox Resources Limited's (ASX:RXL) largest shareholders, saw gain in holdings value after stock jumped 14% last week
The considerable ownership by individual investors in Rox Resources indicates that they collectively have a greater say in management and business strategy 47% of the business is held by the top 22 shareholders Insiders have bought recently To get a sense of who is truly in control of Rox Resources Limited (ASX:RXL), it is important to understand the ownership structure of the business. We can see that individual investors own the lion's share in the company with 53% ownership. Put another way, the group faces the maximum upside potential (or downside risk). As a result, individual investors were the biggest beneficiaries of last week's 14% gain. Let's take a closer look to see what the different types of shareholders can tell us about Rox Resources. Check out our latest analysis for Rox Resources Institutional investors often avoid companies that are too small, too illiquid or too risky for their tastes. But it's unusual to see larger companies without any institutional investors. There are multiple explanations for why institutions don't own a stock. The most common is that the company is too small relative to funds under management, so the institution does not bother to look closely at the company. Alternatively, there might be something about the company that has kept institutional investors away. Rox Resources might not have the sort of past performance institutions are looking for, or perhaps they simply have not studied the business closely. Rox Resources is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is TFG Asset Management L.P. with 20% of shares outstanding. In comparison, the second and third largest shareholders hold about 9.5% and 9.3% of the stock. A deeper look at our ownership data shows that the top 22 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There is some analyst coverage of the stock, but it could still become more well known, with time. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. We can report that insiders do own shares in Rox Resources Limited. It has a market capitalization of just AU$170m, and insiders have AU$8.7m worth of shares, in their own names. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying. The general public -- including retail investors -- own 53% of Rox Resources. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio. With an ownership of 20%, private equity firms are in a position to play a role in shaping corporate strategy with a focus on value creation. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public. It seems that Private Companies own 12%, of the Rox Resources stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. We can see that public companies hold 9.7% of the Rox Resources shares on issue. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. It's always worth thinking about the different groups who own shares in a company. But to understand Rox Resources better, we need to consider many other factors. For instance, we've identified 3 warning signs for Rox Resources (2 can't be ignored) that you should be aware of. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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Yahoo
30-01-2025
- Business
- Yahoo
Insider Buying: Rox Resources Non-Executive Director Bought AU$100k Of Shares
Even if it's not a huge purchase, we think it was good to see that Nathan Stoitis, the Non-Executive Director of Rox Resources Limited (ASX:RXL) recently shelled out AU$100k to buy stock, at AU$0.14 per share. Although the purchase is not a big one, by either a percentage standpoint or absolute value, it can be seen as a good sign. See our latest analysis for Rox Resources Notably, that recent purchase by Nathan Stoitis is the biggest insider purchase of Rox Resources shares that we've seen in the last year. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of AU$0.21. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price. Rox Resources insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. From our data, it seems that Rox Resources insiders own 5.7% of the company, worth about AU$6.2m. However, it's possible that insiders might have an indirect interest through a more complex structure. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing! It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Rox Resources stock. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. When we did our research, we found 4 warning signs for Rox Resources (2 don't sit too well with us!) that we believe deserve your full attention. But note: Rox Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
