Rox Resources (RXL) H1 2025 earnings summary

Executive summary

• Net loss after tax for the half-year ended 31 December 2024 was $6,978k, compared to $5,794k in the prior year, mainly due to increased exploration and evaluation expenditure and higher corporate expenses.

• Major operational focus was on the Youanmi Gold Project, with significant drilling and a completed Pre-Feasibility Study (PFS) confirming robust project economics.

• Entered into a binding agreement to sell 100% of the Mt Fisher Gold Project and 51% of the Mt Eureka Gold Project for cash, shares, and a royalty.

• Raised $26 million (before costs) via a two-tranche placement and share purchase plan to fund ongoing activities.

Financial highlights

• Revenue from interest income was $92k, up from $48k year-over-year.

• Exploration and evaluation expenditure increased to $5,182k from $3,332k year-over-year.

• Corporate expenses rose to $906k from $640k year-over-year.

• Net cash used in operating activities was $6,144k, compared to $5,267k in the prior year.

• Cash and cash equivalents at period end were $12,491k, up from $6,814k at 30 June 2024.

Outlook and guidance

• Ongoing drilling programs at Youanmi Gold Project aim to grow resources and upgrade resource categories for the upcoming Definitive Feasibility Study.

• Sale of Mt Fisher and Mt Eureka projects expected to provide additional liquidity and focus on core assets.