Rox Resources approves FID for Youanmi Gold Project

Core Viewpoint - Rox Resources has approved the final investment decision (FID) for the Youanmi Gold Project, marking a significant advancement following the approval of the Mine Development and Closure Proposal (MDCP) amendment [1][4]. Group 1: Project Funding and Construction - The project is fully funded with A$350 million ($248.1 million) in credit commitments from banks, a completed A$200 million capital placement, and an A$18 million share purchase plan [2]. - Construction will commence immediately on a new processing plant, tailings storage facility, and a power station with a solar array [2][5]. - Rox Resources will begin bulk earthworks and award contracts for a power station and oxygen plant under a build-own-operate (BOO) model [3]. Group 2: Timeline and Milestones - Early works on-site have already started, including long lead items and ongoing accommodation facility construction [3]. - The company anticipates completing financial closure and drawing down the initial debt by the quarter ending September 2026 [3]. - A Works Approval was submitted in January 2026, with approval expected in the second quarter of calendar year 2026, keeping the project on track for production commencement [4]. Group 3: Management Insights - The managing director and CEO of Rox Resources stated that the FID allows for the construction of the Youanmi Gold Project to begin, maintaining the schedule towards production [4][5]. - The company aims for its first gold pour by mid-2027, emphasizing the importance of this milestone for its operational timeline [5].