Cannon Resources, a currently wholly owned subsidiary of Rox Resources Limited, has demerged from Rox and listed on the ASX. Eligible shareholders, including Hawke’s Point, will receive new Cannon shares via an in-specie distribution.

The demerger reflects Rox Resources’ strategic focus on advancing the Youanmi Gold Project, enabling a dedicated management team to focus on maximising the potential of the Cannon Resources assets.

Hawke’s Point looks forward to working with Cannon to progress the demerged Fisher East and Collurabbie nickel projects in Western Australia.