Western Australian gold developer Rox Resources Ltd. has reached financial close on its AU$350 million debt facility, ensuring its Youanmi gold mine remains fully funded as it moves into the main delivery phase.
The company has completed an initial drawdown of AU$90.2 million under its AU$300 million senior secured project term loan facility. Additionally, AU$4 million has been drawn under its bank guarantee facility to support the construction and operation of an on-site LNG facility.
The funding package was backed by major Australian and international commercial banks under a syndicated facility agreement originally announced in April. All conditions precedent to financial close and the initial drawdowns have now been satisfied.
Proceeds from the initial draw will directly fund ongoing construction and development activities across the Youanmi site, located in Western Australia’s Murchison region. Capital will be allocated to engineering, procurement, and construction (EPC) tasks, underground mine development, surface infrastructure works, procurement, and general project costs.
Following the initial draw, Rox retains AU$229.8 million in available liquidity across its main project loan and a separate cost overrun facility, providing flexibility throughout the remaining build and commissioning phases. Further facility drawdowns will take place in line with the project’s schedule.
Rox Resources CEO Phill Wilding described the financial close as a transformational step that locks in funding certainty as construction accelerates on site.
“Securing AU$350 million of committed debt facilities from a syndicate of leading Australian and international banks is a strong endorsement of the quality and scale of Youanmi,” Wilding said.
“We are now firmly in the delivery phase. Construction activities are accelerating across Youanmi, and our focus is squarely on execution as we work towards our target of first gold in mid-2027.”
