Rox fully funds WA gold project to production
Rox Resources (ASX: RXL) has received commitments for $350m in debt facilities to fund the development of its 100%-owned Youanmi gold project in WA.The company has entered into a binding credit-approved commitment letter and term sheet with Societe Generale, Sydney Branch, Sumitomo Mitsui Banking Corporation, The Hongkong and Shanghai Banking and Westpac Banking Corporation to provide the $300m senior secured project term loan facility, $20m cost overrun facility and $30m bank guarantee facility.Rox Resources managing director and chief executive Phill Wilding comments on the funding.“The commitment of debt funding from an impressive selection of Australian and International banks is yet another major milestone for Rox as we accelerate our pathway to production for the Youanmi gold project,” he said.“The debt funding process included a thorough due diligence process by the banks’ independent technical expert, which provides further validation of the robustness of Youanmi and our expectation that it will be a high-margin operation.“The project is now fully funded through to production, and we look forward to making a final investment decision later in this quarter, before commencing construction activities.”Rox and the syndicate banks are now working towards satisfying conditions precedent. Financial close and first debt draw down is expected in the September quarter of 2026.
