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Venus Metals Corporation Limited (ASX:VMC)

ALERT: Price-sensitive ASX Announcement for VMC
Current share price for VMC : $0.280 0.065 (30.23%)+
Announcement
Release
29 May 2026 6:48PM
Price at Release
$0.215
Full Release
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Summary
Venus Metals Corporation Limited announced the sale of its 1.0% net smelter return royalty on Youanmi Gold Project gold production to Franco-Nevada for $46 million. The company plans to declare special dividends totaling $45.625 million, including a $35 million cash dividend and a 25 million Rox Shares in-specie distribution. These moves, aimed at maximizing shareholder value, reflect Venus's focus on optimizing its diversified asset portfolio while retaining significant interests in Rox Resources.
Key Points
  • Venus Metals Corporation Limited has sold its 1.0% net smelter return royalty on gold production from the Youanmi Gold Project to Franco-Nevada Australia Pty Ltd for $46 million.
  • The board intends to declare two special dividends: a cash dividend of approximately $35 million and an in-specie distribution of 25 million Rox Shares.
  • The cash dividend is expected to be around $0.17 per share and is anticipated to be more than 75% franked.
  • The in-specie distribution will represent approximately 0.122 Rox Shares per Venus share and is valued at around $10.625 million.
  • The total value of the special dividends is estimated at $45.625 million, approximately $0.221 per share.
  • Venus will continue to hold 23 million Rox Shares after the distribution, valued at approximately $9.775 million.
  • The royalty sale and intended dividends are part of Venus’ strategy to maximize shareholder value.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.