The FID approval for the Youanmi Gold Project follows receipt of the Mining Development and Closure Proposal (MDCP) amendment approval from the Department of Mines, Petroleum, and Exploration.
This key approval allows construction to commence for the new Processing Plant, Tailings Storage Facility (TSF3), and Power Station/Solar Array, as well as the redesign of the existing West Main Waste Rock Dump to become the new ROM.
The MDCP approval, supported by AUS$350 million credit commitments from the previously announced syndicate of banks1 and the AUS$200 million placement plus AUS$18 million share purchase plan, allowed the Board to approve the FID for Youanmi. Rox and the Syndicate Banks are now working towards execution of finance documents and satisfaction of typical conditions precedent. Financial close and first debt draw down is expected in the September 2026 quarter.
The company will now commence bulk earthworks and issue contracts for the power station and oxygen plant on a build-own-operate (BOO) basis. Most early works streams have already commenced, with the majority of long lead items ordered, and construction of the accommodation facilities ongoing.
Following the MDCP approval, a subsequent Works Approval lodged in January 2026 is on track for approval during 2Q26, in keeping with the company’s pathway towards production.
Managing Director & CEO Mr Phill Wilding commented: “Following the commitment of debt funding and receipt of the MDCP, the Board of Rox has now made its Final Investment Decision, paving the way for construction of the Youanmi Gold Project to begin.
“Bulk earthworks will commence shortly in preparation for these construction works, whilst the company finalises the remaining key contracts.
“The project is now fully funded through to production, and over coming months we will work towards financial close while ramping up on-site construction activity.
“This is a pivotal milestone for Rox Resources, allowing us to remain on schedule with our pathway towards production as we prepare for our first gold pour by mid-2027.”