Rox Resources (ASX:RXL) investors need to pay attention to the board changes of the company, among other developments, said Euroz Hartleys in a Monday note.
Phillip Wilding, former Westgold Resources (ASX:WGX) chief operating officer has been appointed as managing director of the company. This, together with a board refresh that saw geologist David Boyd joining the board may "[bolster] the credentials" of the mining firm to develop the Youanmi projects.
The note pointed out the company's exploration, metallurgical test work, and dewatering progress as catalysts to the stock price.
The company is also well funded with about AU$25.5 million cash allowing focus on the upcoming drill program and other developments, the note added.
The research firm maintained its speculative buy rating with a price target of AU$0.32.
Shares of Rox Resources fell 4% in recent trade.
Price (AUD): $0.27, Change: $-0.010, Percent Change: -3.57%
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