Highlights

  • Rox Resources’ share price gained 10% today, reaching AUD 0.60, with a 26.04% increase over the past month and 175% year-to-date.
  • The Youanmi Gold Project DFS confirmed technical and economic viability, with low operating costs and high-margin production targets.
  • Rox secured AUD 218 million through institutional placement and Share Purchase Plan to fully fund project development, alongside regulatory approvals for underground mining.

Rox Resources Limited (ASX:RXL) saw its shares rise 10% to AUD 0.60 on 23 January, following the release of its December 2025 quarterly activities report. The West Australian gold explorer reported significant progress on its Youanmi Gold Project, including completion of the Definitive Feasibility Study (DFS) and regulatory approvals for underground mining. Combined institutional and retail funding totaling AUD 218 million positions Rox to fully finance the Youanmi development.

Youanmi Gold Project Achievements

Rox Resources completed the Youanmi Gold Project DFS, confirming the project as technically and economically viable. The study outlines low operating costs and a high-margin production profile, with opportunities for expansion. Regulatory approvals for underground mining and associated works were granted by the Department of Mines, Petroleum and Exploration.

Mining activities at the United North site have commenced, with the first decline successfully fired by Byrnecut. Rox has moved to 24-hour mining operations following completion of portal support. Dewatering of the Main pit is proceeding as planned, and approvals have been lodged for the construction of the processing plant and tailings dam.

Funding and Corporate Developments

Rox completed a two-tranche institutional placement, raising AUD 200 million before costs, alongside an upsized Share Purchase Plan that raised an additional AUD 18 million. Together, these initiatives provide the equity portion of development capital for Youanmi in line with the DFS.

The company also purchased gold put options covering approximately 50% of forecast production during ramp-up in FY2028. Rox has received credit-endorsed indicative commitments from leading Australian and international banks, with final debt commitments expected in Q1 CY2026.

Other corporate updates include the appointment of Mr Alan Rule as Non-Executive Director and a cash balance of AUD 232 million at 31 December 2025.

Market Context and Share Performance

Rox Resources outperformed broader indices, with the S&P/ASX 300 Metal & Mining (XMM) up 1.5% to 8,002.90 and the S&P/ASX 200 (XJO) rising 0.13% to 8,860.10 on 23 January. RXL has gained 26.04% over the past month, 89.06% over six months, and 175% over the past year.