Alex Passmore will step down as chief executive officer and managing director of Western Australian company Rox Resources.
Following the recent completion of Youanmi gold project scoping study, Passmore and the board believe that now is the logical time for a leadership transition as the company commences its pre-feasibility study to evaluate the restart of the Youanmi gold mine, and continue its endeavours to unlock the value of the highly-prospective Mt Fisher gold project.
Over the past three and a half years, Passmore played a critical role in transforming Rox into the company it is today, through the acquisition of Youanmi (Rox share 70per cent).
Through his leadership, the Youanmi gold resource has substantially grown from 1.2moz to 3.2moz (an increase of 167 per cent), and a robust scoping study has been delivered to set a base point for the potential restart of the project.
In addition, Passmore led the successful demerger of Rox’s nickel and base metals assets into Cannon Resources, which was successfully listed on the ASX in August 2021 and has since seen substantial growth in nickel resources.
Rox’s non-executive director Robert Ryan has been appointed as Passmore’s replacement.