Rox Resources (ASX: RXL) – develop Youanmi Gold Project

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
Board has the intention to develop the project	Hawke’s Point and Chris Wallins as the cornerstone investors High AU gold price Some existing infrastructure Regional potential	Old mine	Scope Study not accurate Small scale

ABOUT COMPANY

Rox Resources (RXL) (https://www.roxresources.com.au/) explores gold in Western Australia. Its flagship project is the Youanmi Gold Mine in WA. It also owns the Mt Fisher gold project.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
RXL	0.24	607883348		145892003.5200	26/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
6222	44.41%	32.35%	0.7%	13020000	last raise $27m@14c; pre raise $6.2m@16.5c+25cOpt

Hawke’s Point holds 19.88% and Billionaire Chris Wallin holds 19.98% (i.e. 10.04% RXL and around 10% through VMC)

18.8m unlisted options@25c are expiring in November 2025.

The company made a number of changes on MD. Recently, Robert Ryan stepped down in Oct 2024, was replaced by Phillip Wilding who was COO from WGX.

The company had a share consolidation of 15:1 in July 2021.

FLAGSHIP ASSETS

Youanmi Gold Project WA

Youanmi - Gold - RMS, RXL, VMC

Project Data

The 2024 PFS show a NPV8 of nearly $800m at $3,700/oz. It requires a capital cost of $245m. But, a big but, the company will need to convert another 300koz from resources to reserves. with nugget effort, it might be hard to do.

Below are the project’s reserves used for PFS in June 2024:

SUMMARY

Waiting on mid 2025 MRE update.