Rox Resources Advances Youanmi Gold Mine with Construction and $350m Debt

Full Permitting and Construction Momentum at Youanmi

Rox Resources (ASX:RXL) has cleared a major regulatory hurdle with the granting of the final works approval for the Youanmi Gold Mine, completing its permitting phase and enabling full-scale construction. The company swiftly followed this milestone by commencing processing plant construction under a fixed-price EPC contract awarded to Interquip Construction. Fabrication of key components including the ball mill and Albion circuit tanks is well underway, aligning with Rox’s target to pour first gold by mid-2027.

Mining Advances and Ore Stockpile Build

Underground development continues to outpace expectations, with Rox reporting 1,117 metres of lateral advance in the June quarter, bringing total underground progress to 2,130 metres across the Youanmi site. Mining at the United North decline is particularly strong, contributing approximately 1,025 metres of the advance. Surface stockpiles are growing, with 27,702 tonnes of ore at 3.06 g/t gold now accumulated, helping to de-risk the imminent production phase.

Following completion of dewatering at the Main Pit, efforts have shifted to historic underground workings, facilitating further mining and development. The Youanmi and Pollard declines are progressing, with portal works and stripping well advanced, setting the stage for expanded underground operations.

Drilling Programs Confirm Expansion Potential

Rox’s drilling campaigns are delivering encouraging results. Surface infill drilling at United North has returned significant high-grade intercepts beyond the current mine plan, suggesting potential for production scale-up. Underground diamond drilling commenced in mid-June, with early grade control assays confirming targeted mineralisation. Additional surface drilling at Commonwealth and Interceptor deposits supports satellite resource inclusion, enhancing the overall mine plan.

Robust Financing and Strong Cash Position

The company has secured A$350 million in debt financing, complementing earlier equity raises to fully fund the Youanmi project’s development. As of 30 June 2026, Rox holds a healthy cash balance of A$152.7 million, despite significant capital expenditure on mine development and equipment acquisition during the quarter. The first drawdown on the debt facilities is expected in the September quarter, subject to customary conditions precedent.

Community Engagement and Infrastructure Progress

Beyond technical and financial milestones, Rox Resources is advancing infrastructure and community relations. Mining offices and accommodation facilities have been completed or are nearing handover, with a 351-room camp upgrade providing modern amenities for staff and contractors. The company is also fostering cultural connections through the “Youanmi Environs Paintings Commission,” partnering with the Badimia Land Aboriginal Corporation to support local Indigenous artists.

Looking ahead, Rox plans to finalise remaining major contracts for power and oxygen supply, continue underground development, and expand exploration efforts, maintaining a steady trajectory toward production.