Rox Resources boss Phillip Wilding says construction at the company’s flagship Younami gold mine will likely intensify in coming weeks, following a key milestone.
Rox Resources boss Phillip Wilding says construction at the company’s flagship Younami gold mine will likely intensify in coming weeks, following a key milestone.
The West Perth-based gold developer, which has a market cap of $569.9 million, told investors on Monday that it had received the final environmental approval required in order for both its processing plant to be built and mining plan to be executed.
Rox, which greenlit its $245 million Youanmi investment in March, is eying off first production during the middle of 2027.
“With all major approvals now in place, construction underway, underground drilling commenced and several activities tracking ahead of schedule, Rox is fully funded and continuing to execute its plan to become one of Australia’s next high-grade gold producers,” Mr Wilding said.
As it continues its push towards first production, Rox said it would finalise two key major contracts – oxygen supply and power purchase agreements – on the back of securing both preferred suppliers and early works agreements.
The gold developer said as of June 30, it’s cash balance had regressed by $47.7 million from the March 2026 quarter to $152.7 million, courtesy of a rise in construction and mining operations at the project.
Younami has not been online since 1997, when it was closed on the back of low gold prices.
Three years ago on the back of a farm-in agreement, Rox secured an initial 75 per cent stake in the project, enroute to securing complete ownership last year.
Upon delivering Youanmi’s definitive feasibility study in November last year, the company said it anticipated a peak annual gold production of 176,000 ounces per year – equating to an average of 117,000oz annually across a seven-year mine life period.
As of 10.21am AWST, Rox shares were down 1 per cent to 40.5 cents.
