Name of the Project
Youanmi gold project.

Location
Murchison region of Western Australia.

Project Owner/s
Gold miner Rox Resources.
 
Project Description
The project encompasses underground mine production from the Youanmi main lode, Link and Pollard deposits.

A prefeasibility study (PFS) has confirmed the potential to develop a financially attractive, standalone high-grade and -margin gold project with an initial 7.7-year mine life.

The project has a maiden probable ore reserve estimate of 3.83-million tonnes at 4.4 g/t gold for 546 000 oz of contained gold.

The PFS envisages production of 786 000 oz of gold doré over the life-of-mine (LoM), averaging 103 000 oz/y over the LoM.

There is significant upside in the project, with the underground resource remaining open down-dip and along strike, and near-mine exploration targets of between 1.1-million ounces and 1.8-million ounces. These targets have the potential to increase the yearly production rate and mine life of the project if Rox is successful in converting those ounces into resources and, ultimately, ore reserves.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a conservative gold price of A$3 100/oz, the project has a pretax and unleveraged net present value, at an 8% discount rate, of about A$486-million (after-tax A$322-million) and internal rate of return of about 42% (after-tax 33%), with a payback of 2.9 years (after-tax 3.3 years) from the completion of construction and commissioning.

Capital Expenditure
Preproduction capital is estimated at A$245-million.

Planned Start/End Date
The company is targeting first gold production from Youanmi by mid-2027. 

Latest Developments
Rox Resources has approved the final investment decision (FID) for its project, clearing the way for construction to start.

The FID follows approval of the project’s Mining Development and Closure Proposal amendment by the Department of Mines, Petroleum and Exploration, which allows for the development of key infrastructure, including the processing plant, tailings storage facility and power station.

The project is now fully funded through to production, supported by A$350-million in credit commitments from a syndicate of lenders, alongside a A$200-million capital raise and an A$18-million share purchase plan.

Construction activities were set to start immediately, Rox said in a statement on March 17, noting that bulk earthworks were expected to start shortly and contracts for major infrastructure, including the power station and oxygen plant, would be awarded on a build, own, operate basis.

Early works are under way, including accommodation construction and procurement of long-lead items, while the company progresses towards financial close, expected in the September 2026 quarter.

A separate works approval submitted in January is on track for approval in the second quarter of 2026, supporting Rox’s development timeline.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Rox Resources, tel +61 8 9226 0044 or email admin@roxresources.com.au.