Rox Resources (ASX: RXL) reports the processing plant at its Youanmi Gold Mine in Western Australia’s Murchison region is 39 percent complete, keeping the project on schedule for first gold in mid-2027. Civil, structural and mechanical work is progressing across multiple fronts under EPC contractor Interquip: concrete and foundation works are advancing around the Albion tanks, leach-feed thickener and IsaMill; six of eight carbon-in-leach tanks are installed; the ball mill foundation is backfilled with reinforcement under way. Several long-lead items are in transit, including the ball mill, the first structural-steel shipment and initial IsaMill components. Construction has started on the power station and the tailings storage facility.
Underground, development reached 566 metres during September and is outperforming planned rates. Ore-drive development is complete on the first two levels at United North, with production drilling scheduled for October, and recent high-grade drilling there has extended development beyond the definitive feasibility study mine plan. At Youanmi Main, the company is establishing initial mining levels and upgrading dewatering: a second underground borehole is scheduled for October with pump installation in November, expected to roughly double dewatering rates from the historic workings.
The funding picture firmed on October 2 with financial close on A$350 million in debt facilities (a A$300 million senior secured term loan, a A$30 million bank guarantee facility and a cost overrun facility) from a syndicate of Australian and international banks led by Societe Generale, SMBC, HSBC and Westpac. An initial A$90.2 million drawdown lifted cash from A$59 million at September 30 to A$149.2 million, leaving about A$229.8 million available. CEO Phill Wilding called it a transformational milestone that makes Youanmi fully funded to production. The company is working toward what it describes as a 150,000-ounce-a-year operation; an industry forum tally puts the DFS case at 117,000 ounces a year at A$1,978 an ounce all-in sustaining cost on A$383 million of capex.