Rox Resources (ASX:RXL) is conducting a placement to raise $200 million which will support the development of the Youanmi Gold Project in Western Australia.
Under the capital raise, shares will be issued at $0.35 per share, representing a 19.9% discount to the 15-day volume weighted average price.
Canaccord Genuity will act as global coordinator, joint lead manager, and joint bookrunner with Euroz Hartleys. Petra Capital will also act as co-manager.
A share purchase plan (SPP) will also be carried out to raise $10 million under the same issue price as the placement. The SPP will open on 3 December 2025 and will close on 16 December 2025 at 5pm AWST.
The funds will be used for processing plant and equipment on an engineering procurement contract basis, site infrastructure including a 350-room camp and wastewater treatment facilities, upgrading site roads and all necessary surface dewatering infrastructure.
Other project development capital expenditure includes underground decline development at United North and Pollard, as well as rehabilitation of the Youanmi Main decline.
Rox, which has a market capitalisation of $343.46 million, adds the funds will also be used for resource definition and exploration drilling set to begin in 2026, as well as general working capital and financing costs.
CEO Phill Wilding says securing these funds de-risks the delivery timeline for constructing Youanmi and ensures the company can order long-lead items.
“We have laid the foundations for our pathway to production, and are in a strong position to leverage the outstanding fundamentals of Youanmi and record gold prices to deliver sustained value,” Wilding says.
Rox Resources is a Western Australian gold explorer and developer which wholly owns the Youanmi Project near Mt Magnet.
Write to Aaliyah Rogan at Mining.com.au
Images: Rox Resources
