Rox Resources, the developer of the Youanmi gold mine in the Murchison region of Western Australia, has announced strong investor support for a A$26-million capital raise.
The two-tranche placement of 185.7-million shares at A$0.14 a share represents a 17.6% discount to the last closing price and a 16.1% five-day volume-weighted average price.
The company will also offer a A$1-million share purchase plan to shareholders at the same price.
“The capital raising will see the Rox team well-funded to advance near-mine growth drilling, finalise the definitive feasibility study and commence parallel workstreams, including dewatering, to accelerate our path to early production at Youanmi,” said CEO Phill Wilding.
He pointed out that the recently completed prefeasibility study at Youanmi outlined a high-grade, high-margin underground gold project with robust economics, and in a location with rich mining history and well-understood ground.
“We have a strong foundation to build on, and we look forward to updating the market as we advance the Youanmi gold project through the definitive feasibility study toward a final investment decision, targeted for FY26,” said Wilding.
Edited by: Creamer Media Reporter
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