Rox Resources Secures $200M to Advance Youanmi Gold Project
Rox Resources has completed a $200 million capital raise, including a $134 million second tranche placement, to fund development of its Youanmi Gold Project in Western Australia.
- Completed two-tranche placement raising $200 million before costs
- Second tranche raised $134 million at $0.35 per share
- Shareholder approval obtained for placement
- Funds earmarked for advancing Youanmi Gold Project
- Shares issued without disclosure under Corporations Act Part 6D.2
Capital Raise Completion
Rox Resources Limited (ASX – RXL), a Western Australian gold exploration and development company, has successfully completed the second tranche of its two-part capital raising, securing $134 million at an issue price of $0.35 per share. This final tranche completes the company’s targeted $200 million raise before costs, following shareholder approval at the general meeting held on 17 December 2025.
The placement involved issuing over 382 million fully paid ordinary shares, alongside shares issued under a Share Purchase Plan announced earlier in December. The capital raising was conducted without disclosure under Part 6D.2 of the Corporations Act, a common approach for placements to sophisticated investors, and Rox has confirmed compliance with all relevant regulatory provisions.
Strategic Focus on Youanmi Gold Project
Rox Resources is channeling the proceeds towards advancing its flagship Youanmi Gold Project, located near Mt Magnet in Western Australia. The project boasts a significant global mineral resource of 12.1 million tonnes at 5.6 grams per tonne, equating to approximately 2.2 million ounces of gold. With a clear strategic plan to move towards production, the capital injection is expected to accelerate development activities and enhance project value.
The Youanmi project has been a cornerstone asset for Rox, and this substantial funding round underscores investor confidence in the company’s growth trajectory and the potential of the high-grade gold deposit. The company’s Managing Director, Phillip Wilding, has emphasized the importance of this capital raise in positioning Rox for the next phase of operational progress.
Regulatory and Market Implications
By issuing shares without a formal disclosure document, Rox has efficiently accessed capital while adhering to the Corporations Act’s regulatory framework. The company has also confirmed that there is no excluded information that would require disclosure, providing transparency and reassurance to the market.
Investors will be watching closely how Rox deploys this capital, particularly in terms of project milestones and timelines. The successful raise also raises questions about potential dilution effects and how the company plans to balance growth with shareholder value.
Bottom Line?
With $200 million secured, Rox Resources is poised to accelerate Youanmi’s development, but investors await clarity on execution and returns.
Questions in the middle?
- How will Rox allocate the $200 million across exploration, development, and operational costs?
- What impact will the share placement have on existing shareholders’ equity and share price?
- When can investors expect updated timelines or milestones for Youanmi’s production ramp-up?
