Rox Resources Raises $66M in Tranche 1 Placement Ahead of $134M Shareholder Vote
Rox Resources has successfully completed the first tranche of a $200 million capital raise, issuing 188.7 million shares at 35 cents each. The second tranche, worth $134 million, awaits shareholder approval in December.
- Tranche 1 placement raised $66 million via 188.7 million shares at $0.35 each
- Placement uses existing ASX Listing Rule capacity under 7.1 and 7.1A
- Tranche 2 to raise $134 million pending shareholder approval on 17 December 2025
- Funds earmarked to advance the Youanmi Gold Project in Western Australia
- No excluded information disclosed; compliance with Corporations Act confirmed
Capital Raise Milestone
Rox Resources Limited (ASX – RXL) has taken a significant step forward in funding its flagship Youanmi Gold Project by completing the first tranche of a two-part placement. On 21 November 2025, the company issued 188.7 million new shares at an issue price of 35 cents each, raising $66 million before costs. This tranche was executed under the company’s existing placement capacity, avoiding the need for immediate shareholder approval.
Awaiting Shareholder Green Light
The second tranche, which aims to raise an additional $134 million, remains contingent on shareholder approval scheduled for 17 December 2025. This approval will be pivotal in unlocking the full $200 million capital raise, which Rox Resources plans to deploy towards advancing the Youanmi Gold Project, a high-grade gold development located near Mt Magnet in Western Australia.
Strategic Focus on Youanmi
The Youanmi Gold Project holds a global mineral resource of 12.1 million tonnes at 5.6 grams per tonne, equating to approximately 2.2 million ounces of gold. Rox Resources’ strategy is to leverage this resource with a clear execution plan aimed at production, positioning the company to deliver significant value to investors. The fresh capital injection from the placement will provide essential funding to progress development activities and potentially accelerate timelines.
Regulatory Compliance and Transparency
Rox Resources has confirmed that the tranche 1 shares were issued without disclosure under Part 6D.2 of the Corporations Act 2001, relying on existing placement capacity under ASX Listing Rules 7.1 and 7.1A. The company also affirmed compliance with all relevant regulatory provisions, including the absence of any excluded information that would require disclosure. This transparency reassures investors about the integrity of the capital raising process.
Looking Ahead
With the initial tranche successfully closed, all eyes will now turn to the upcoming shareholder meeting. Approval of tranche 2 will be critical to securing the full $200 million funding package, which could materially impact Rox Resources’ ability to advance Youanmi towards production. The company’s management and investors alike will be watching closely as the December vote approaches.
Bottom Line?
Rox Resources’ next big test is securing shareholder approval to unlock the full $200 million needed to fuel Youanmi’s development.
Questions in the middle?
- Will shareholders approve the $134 million second tranche in December?
- How will the capital raise affect Rox Resources’ share structure and dilution?
- What are the planned milestones for Youanmi Gold Project development with the new funds?
