Venus Metals Corporation has announced a special dividend of 25 million Rox Resources shares, valued at $10.25 million, to be distributed to its shareholders.
The distribution equates to 0.1212 Rox shares for every Venus share held, marking a significant capital return event for the battery-minerals explorer.
The move follows Venus Metals banking $46 million from the sale of its Youanmi royalty interest.
The move follows Venus Metals banking $46 million from the sale of its Youanmi royalty interest.
Management has indicated that a further $35 million in cash returns is planned, signaling a shift toward returning proceeds from asset monetization directly to investors rather than retaining the capital for exploration.
The scrip dividend structure means shareholders will receive equity in Rox Resources, a peer in the Australian mining sector, rather than cash.
This approach preserves Venus Metals' cash balance while providing shareholders with exposure to another listed entity.