Rox Resources (RXL) investor relations material

Project Development and Milestones

• Fully funded and permitted high-grade gold project with mining started and mill construction underway; first gold pour targeted for mid-2027.

• Definitive Feasibility Study (DFS) released, showing low-cost, high-margin operation with A$1,978/oz all-in sustaining cost and pre-production capital of A$383 million.

• Funding secured through A$218 million equity raise and up to A$350 million in project financing, with final investment decision made.

• Construction progress includes completed camp, offices, declines into the ore body, and high-grade ore stockpiles to de-risk ramp-up.

• Project delivery has remained on time and on budget, supported by a fixed-cost EPC contract and strong funding commitments.

Production and Growth Strategy

• Initial production target of 117,000–120,000 ounces per annum, with aspiration to reach over 150,000 ounces annually over a multi-year timeframe.

• Seven-year base case mine plan for 900,000 ounces, with significant organic growth potential from underexplored tenement package and ongoing drilling.

• Plant designed with excess capacity, allowing for throughput increases with minimal additional capital.

• Exploration focus on Youanmi North, Interceptor Lode, and regional prospects, leveraging modern geophysical data and near-mine targets.

• Ongoing drilling programs targeting resource conversion, mine life extension, and high-grade mineralization outside the current mine plan.

Financials and Economics

• Project NPV estimated at A$1.4–2 billion, with IRR of 69% at base case and significant upside at higher gold prices.

• Free cash flow at current gold prices projected at A$2.7 billion.

• No mandatory hedging required; flexible debt package with no covenants and margin protection with gold price puts at A$5,700/oz for half of first-year production.

• Market cap fluctuating between A$500–550 million as of July 2026, with strong institutional coverage and a cash balance of A$152.7 million.

• Strong institutional support and media presence.