Delays or Deliveries? Rox Resources’ Path to Gold Production Faces Critical Tests

Mining Progress and Infrastructure Expansion

Rox Resources Limited (ASX – RXL) has kicked off 2026 with significant momentum at its 100%-owned Youanmi Gold Project in Western Australia. The company reports accelerated underground mining operations at the United North pit, having completed approximately 420 metres of development and established a ventilation portal. Transitioning to 24-hour mining operations has been a key driver behind this progress, positioning Rox to meet its production targets.

Alongside mining, Rox has made strides in expanding site infrastructure. The accommodation camp recently completed its Phase 1 expansion, adding 60 high-spec rooms to bring total capacity to 111. Plans are well underway to increase this to around 350 rooms by mid-2026, supporting the anticipated operational scale-up. Preparations for an underground workshop are also advancing, with concrete works scheduled to commence shortly.

Processing Plant Development and Engineering

On the processing front, Rox has engaged Maca Interquip to lead Front End Engineering Design (FEED) works for the new plant. The company has received and is reviewing tenders for Engineering, Procurement, and Construction (EPC), with early indications suggesting pricing and timelines align with the Definitive Feasibility Study (DFS) assumptions. Notably, Rox has committed to purchasing the Fine Grind Mill from Glencore Technology, with delivery expected in late 2026.

Complementary infrastructure projects, including power station and oxygen supply facilities, are progressing through tender and procurement stages. These developments are critical to ensuring the processing plant’s operational readiness and efficiency once production commences.

Resource Development and Exploration Initiatives

Rox has strengthened its geology team with the appointment of Jonathan Streeter as General Manager – Geology. Streeter brings extensive experience in both operational and exploration geology, a vital asset as Rox prepares for its first ore intersections, grade control, and infill drilling programs. Surface drilling is set to begin this quarter, focusing on de-risking initial production areas and identifying growth zones for potential fast-tracking into the mine plan.

Exploration activities are also expanding beyond the immediate mine area. Recent airborne magnetic surveys covering the full tenement package have been completed, with geophysical consultants providing detailed litho-structural interpretations to guide future targeting. Promising prospects such as Hope and Commonwealth-Connemarra, located within a few kilometres of the main pit, are earmarked for further drilling to assess their resource potential.

Permitting and Pathway to Production

Regulatory progress remains on track, with Rox lodging a Mining Development and Closure Proposal amendment in December 2025 to accommodate new processing and infrastructure facilities. Approval is anticipated in the first quarter of 2026, enabling early construction activities to commence. A Works Approval application for additional site infrastructure is also nearing completion, with expected approval in the second quarter.

Financially, Rox has secured equity funding through a $200 million placement and an $18 million share purchase plan completed in late 2025. The company is actively working with debt advisors to finalise project financing ahead of a Final Investment Decision. With dewatering of the main pit scheduled for completion in Q1 2026 and ongoing development of underground declines, Rox is steadily advancing along its clearly defined pathway to production.