Rox Resources (RXL) is kicking off the 2021 financial year with a strong balance sheet
After completing a private placement and retail entitlement offer over the June quarter, Rox had around $10.6 million cash in the bank at the end of June
With roughly $1.5 million in quarterly expenses, Rox has enough money to last just over seven more financial quarters
During the June quarter, Rox restarted drilling work at its Youanmi Gold Project after a brief COVID-19-induces drilling hiatus
Drilling is expected to continue through to the end of 2020, with an updated mineral resource estimate on the way
Rox Resources shares are currently trading over three per cent lower and worth 5.7 cents each
