This announcement highlights that Rox has one overriding priority: to get into production ASAP.At times, that resolve can upset some shareholders (CR dilution and discount) and crunch the share price.
However, production is the company-making event that will see the market cap and share price explode.
It’s worth the short-term pain to get there quicker.
Rox didn’t pass around the hat for this funding.
MD Phill Wilding wasn’t seeking to raise on his global investment tour.
This funding was an offer, and having diverse major international funds on board will make sure the company quickly gets the funds to build its mine.
The potential early mining of United North and Pollard in the Pathway to Production is now a certainty.
Many 2026 development activities are now 2025 with the possibility of early mine commissioning before the end of 2027.
This funding will make it happen.
With this funding, the Youanmi mine will start high gold production right from year 1 rather than ramping up as in the PFS.
There will be an early high cash flow and a quick repayment of Capex.
Topped up at 30 cents per share today.
That’s the CR price, and if international funds are happy to provide $40m at 30 cents, I’m very confident in my investment.
I doubt that Rox will ever be at 30 cents again.
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