Rox locks in A$350m debt package to fund Youanmi development
Gold miner Rox Resources has locked in commitments for A$350-million in debt facilities from a syndicate of major banks, fully funding the development of its Youanmi gold project in Western Australia.
The funding package comprises a A$300-million senior secured project term loan facility, a A$20-million cost overrun facility and a A$30-million bank guarantee facility. The facilities were arranged with Societe Generale, Sumitomo Mitsui Banking Corporation, HSBC and Westpac.
The commitments follow Rox's equity raise completed in December, meaning the project is now fully funded through to production.
MD and CEO Phill Wilding said in a statement on Monday that the funding commitments marked a major step forward for the project.
“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.
“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.
“We will now work with the Ssyndicate banks to achieve financial close, placing us in a position to commence draw down of debt in the September 2026 quarter.
“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.”
