Australian gold explorer Rox Resources jumps on Cannon Resources' buyout bid

Rox Resources

22/12/2022 03:04

** Shares of Rox Resources Ltd  RXL.AX  jump as much as 5.9%
to A$0.18, their highest since Dec 7
    ** Gold explorer confirms it received and accepted A$3.8 mln
($2.56 mln) takeover offer from nickel explorer Cannon Resources
Ltd  CNR.AX   urn:newsml:reuters.com:*:nASX1js72r
    ** More than 569,313 shares change hands, 1.5 times the
30-day average volume 
    ** Cannon shares rise as much as 2.2% to A$0.46, hitting
their highest since June 7 
    ** RXL down 53.4% and CNR down 8.2% this year as of last
close
($1 = 1.4832 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))