Rubix Resources Signs Non-Binding Agreement for Cameroon and Congo Bauxite Projects

Rubix Resources Limited (ASX: RB6) has entered into a non-binding agreement with Nyos Metals Pty Ltd and Yoro Metals Pty Ltd to acquire 100% of several exploration licence applications in Cameroon and the Republic of Congo. The proposed acquisition involves staged consideration, including AU$1.2 million in cash, 10 million Rubix shares, and up to 20 million performance rights tied to resource discovery and project valuation milestones. Completion remains subject to due diligence, regulatory and shareholder approvals, and execution of a binding agreement within 90 days.

The Cameroon portfolio covers two licence areas, Bangem and Fontem, which are under application and have seen no modern exploration. In Congo, Rubix aims to secure six contiguous concessions spanning ~3,000km², including the Kouyi and Kibangou projects, both historically recognised as prospective bauxite regions. With no drilling since the 1960s, these projects represent early-stage opportunities in countries known for hosting significant bauxite reserves.

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