Rox Resources Limited
Rox Resources Limited is a West Australian gold developer building the 100%-owned Youanmi Gold Project (~480km northeast of Perth, near Mt Magnet), a historic gold field being redeveloped as an open-pit/underground operation. The Board approved a Final Investment Decision on 17 Mar 2026 following the Definitive Feasibility Study (13 Nov 2025) and receipt of the Mining Development and Closure Proposal amendment approval, and the company subsequently secured an A$350 million debt package (Societe Generale, SMBC, HSBC, Westpac) that, combined with Dec 2025 equity funding, fully funds the project through to production. Rox reached financial close on the debt package on 5 Oct 2026 with a first drawdown of A$90.2 million under its A$300 million project debt facility; construction is underway, and first gold pour is targeted for mid-2027.
Notable vs. Peers
- Financials score of 9.5/10 is stronger than the peer average of 6.5/10.
- All-in sustaining cost of $1,296/oz is 28% lower than the peer producer average of $1,812/oz.
Lifecycle Milestones
Construction Milestones
2 of 5 reached- Mar 2026 · Source
- Mar 2026 · Source
- Not yet reached
- Not yet reachedExpected Mid-2027 · First gold pour at Youanmi · Source
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: mill, tailings facility, grid power.
Jurisdiction (40%)9/10
Western Australia: Fraser PPI 2025 is 88.53 of 100 (rank 13 of 68), which maps to 9 on this site's scale. The Youanmi project is in Western Australia's Murchison region, a Tier-1, established mining jurisdiction.
Infrastructure (40%)2.9/10
No confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at Youanmi Gold Project.
Nearby producing mine (20%)9.5/10
Penny (Ramelius Resources Ltd) is 27 km away -- within regional-platform range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:7.3/10
Nearest producing mine: Penny (Ramelius Resources Ltd), 27 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:7/10
Stage: Construction
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Managing Director and CEO of Rox Resources Limited, leading the company through Final Investment Decision (19 Mar 2026) and into construction of the Youanmi Gold Project.
Chief Financial Officer of Rox Resources, commenced 3 Feb 2025; also serves as sole Company Secretary (effective 11 Apr 2025), succeeding Chris Hunt, who resigned as CFO 11 Dec 2024.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Hawke's Point (RRL) L.P., part of Hawke's Point, a London-based mining-sector-dedicated investment group (part of Tetragon's TFG Asset Management platform, whose own portfolio also includes Rox itself among other named mining companies), holds a real 9.65% stake -- the more credible specialist signal on this register. L1 Capital Pty Ltd separately holds 19.08%, a larger position but from a diversified Australian equities manager with no particular resource focus. Franklin Gold and Precious Metals Fund, a real but much smaller specialist, holds a further small stake, with institutional ownership over 26% providing corroboration. A former director's clean open-market purchase from late 2024 is now stale but was the only qualifying insider activity found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Rox Resources owns 100% of the Youanmi Gold Project, a historic gold field about 480km northeast of Perth in Western Australia that it is redeveloping as an open-pit and underground mine. Its November 2025 definitive feasibility study outlines a 6.8-year mine life, an after-tax NPV8% of US$632.4M and a 55% IRR, with initial capital of US$250.7M and an all-in sustaining cost of US$1,296/oz. The resource contains 1,561,000 oz of gold in measured and indicated resources, all of it indicated, plus 625,000 oz inferred. The board approved a final investment decision on 17 March 2026, and Rox reached financial close on its A$350 million debt package on 5 October 2026 with a first drawdown of A$90.2 million; construction is under way and first gold is targeted for mid-2027.