ASX-listed Rox Resources has agreed to an exclusivity agreement with listed, but suspended, shell IM Medical, which is interested in buying its 49% interest in the Reward zinc/lead joint venture (JV) project, in the Northern Territory.
Rox owns 49% of the JV with Teck Resources holding the balance. The Canada-based diversified major has an option to increase its interest to 70% by spending A$15-milion by August 31, 2018. Teck has already spent about $13.85-million.
