Youanmi Project Advances: 24-Hour Mining and $200M Funding Placement Underway
Rox Resources has ramped up operations at its Youanmi Gold Project, transitioning to 24-hour mining and completing key infrastructure ahead of production. The company is advancing permitting and financing milestones to maintain its development momentum.
- 24-hour mining operations commenced at United North pit
- Phase 1 camp expansion with 60 new rooms and mining offices completed
- Dewatering of Main pit on track for Q1 2026 completion
- Approvals for processing plant and tailings dam lodgement imminent
- Equity funding placement of up to $200 million underway
Operational Ramp-Up at United North
Rox Resources Limited (ASX, RXL) has announced a significant operational milestone at its 100%-owned Youanmi Gold Project in Western Australia, transitioning mining activities at the United North pit to a continuous 24-hour schedule. This shift follows the completion of portal support and has already resulted in accelerated advance rates, with approximately 122 metres progressed to date. The move to round-the-clock mining reflects Rox’s commitment to maintaining development momentum as it edges closer to production.
Infrastructure Expansion Supports Growth
Complementing the intensified mining schedule, Rox has completed the first phase of its camp expansion, adding 60 high-spec rooms to accommodate the growing workforce. The new mining offices, shared with contractor Byrnecut, have also reached practical completion, providing essential operational support. These infrastructure upgrades are critical as Rox prepares for the full-scale operational ramp-up anticipated in the coming months.
Dewatering and Permitting Progress
Dewatering efforts at the Main pit continue to progress on schedule, with pumping operations discharging water to evaporation ponds and adjacent pits. The company expects to complete dewatering by the first quarter of 2026, a key prerequisite for advancing underground development. Meanwhile, Rox is poised to lodge its Mining Development and Closure Proposal (MDCP) and Works Approvals for the processing plant and tailings dam construction imminently, targeting regulatory approvals in early to mid-2026.
Financing and Project Development Outlook
Following the release of its Definitive Feasibility Study in November 2025, Rox is progressing its project financing strategy, with a planned placement to raise up to $200 million alongside a $10 million Share Purchase Plan expected to close by year-end. Front End Engineering Design (FEED) works for the processing plant are underway, and tenders for long-lead items such as the fine grind mill and power supply are under review. These steps are integral to maintaining the project’s timeline toward first gold production and operational growth through 2026 and beyond.
Strategic Positioning in Western Australia’s Gold Sector
Rox Resources is positioning itself as one of Western Australia’s highest-grade new gold producers, leveraging the Youanmi Project’s substantial mineral resource base of 2.2 million ounces at an average grade of 5.6 grams per tonne. The company’s methodical approach to development, encompassing infrastructure build-out, regulatory compliance, and financing, underscores its strategic intent to deliver value to investors while advancing a high-margin gold operation.
Bottom Line?
As Rox Resources accelerates toward production, upcoming financing and permitting milestones will be pivotal in defining the project's trajectory.
Questions in the middle?
- How will Rox manage operational risks associated with the transition to 24-hour mining?
- What are the detailed timelines and contingencies for processing plant construction and commissioning?
- How might market conditions impact the completion and pricing of the planned $200 million equity raise?
