Rox Issues 13.5 Million Shares, Completes $40 Million Placement
Rox Resources has completed its two-tranche placement, raising a total of $40 million to advance its Youanmi Gold Project development. The final tranche involved issuing 13.5 million shares to key institutional investors.
- Completion of $40 million two-tranche placement
- Final tranche raised $4 million via 13.5 million shares at $0.30 each
- Shares issued to institutional investors including Hake’s Point Holdings and Venus Metals
- Placement approved by shareholders and compliant with Corporations Act
- Funds aimed at advancing the Youanmi Gold Project in Western Australia
Capital Raise Completion Marks a Milestone
Rox Resources Limited (ASX, RXL) has successfully completed the second tranche of its two-part capital raising, culminating in a total of $40 million raised before costs. The company issued 13.5 million fully paid ordinary shares at $0.30 each, generating $4 million in this final tranche. This follows shareholder approval at the general meeting held on 27 June 2025, underscoring investor confidence in Rox’s strategic direction.
Institutional Backing and Strategic Investors
The tranche 2 shares were allocated to a mix of institutional and sophisticated investors, notably including Hake’s Point Holdings (RRL) L.P and Venus Metals Corporation Limited. Their participation signals strong institutional support for Rox’s growth plans, particularly the development of the Youanmi Gold Project, a high-grade gold asset in Western Australia.
Focus on Youanmi Gold Project Development
Rox Resources is focused on advancing the Youanmi Gold Project, which boasts a global mineral resource estimate of 16.2 million tonnes at 4.4 grams per tonne gold, equating to approximately 2.3 million ounces. The capital raised is expected to underpin the company’s next phases of exploration and development, moving closer to production and value realisation for shareholders.
Regulatory Compliance and Transparency
The placement was conducted in compliance with the Corporations Act 2001, with Rox providing the necessary cleansing notice under section 708A. The company confirmed there is no excluded information that would affect the disclosure, maintaining transparency and regulatory adherence throughout the capital raising process.
Looking Ahead
With the capital raising complete, Rox Resources is positioned to accelerate its project development timeline. Investors will be watching closely for updates on how the funds are deployed and the progress towards production milestones at Youanmi.
Bottom Line?
Rox’s successful $40 million raise sets the stage for critical development milestones at Youanmi.
Questions in the middle?
- How will Rox allocate the $40 million capital to specific project activities?
- What are the expected timelines for Youanmi Gold Project’s transition to production?
- How might the new share issuance impact Rox’s share price and investor sentiment?
