Rox Resources Secures A$350 Million Debt Facility for Youanmi Gold Mine Development
Rox Resources has reached financial close on A$350 million ($243 million) in debt facilities for the Youanmi gold mine in Western Australia and completed its first funding drawdown. The company pulled A$90.2 million from a A$300 million senior secured project term loan alongside A$4 million from a bank guarantee facility, shifting the project firmly into its construction phase.
The financing package was structured through a syndicated agreement executed in April 2026 with a consortium of Australian and international banks, according to ListCorp reporting. Financial close required fulfilling all contractual conditions precedent before capital could be released for engineering, procurement, underground mine development, and site infrastructure.
Rox Resources Retains A$229.8 Million for Gold Production
Following the initial capital draw, A$229.8 million remains available across the project debt and cost overrun facilities. Rox Resources plans to execute subsequent drawdowns in alignment with its approved project development schedule.
Proceeds from the debt package cover essential capital requirements to bring the gold deposit back into production. The budget targets detailed engineering work, surface and underground development, necessary plant infrastructure, and owner-operator operational costs leading up to initial production.
Management Perspective on the Youanmi Transition
“We are now firmly in the delivery phase,” said managing director and chief executive officer Phill Wilding, as reported by ListCorp. Wilding described the debt package as a strong endorsement of the quality and scale of the Youanmi asset.
Securing the syndicated debt removes major funding uncertainty for the venture. The project timeline now depends entirely on physical construction execution rather than capital raising milestones.
Youanmi Targets First Gold in Mid-2027
Rox Resources maintains a production target for first gold from Youanmi in mid-2027. Engineering and procurement teams are operating under the fully funded development schedule enabled by the April 2026 banking syndicate agreement.
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