Join our daily newsletter At The Bell to receive exclusive market insights
- Significant construction progress made on Youanmi processing plant
- Tailings dam construction underway
- First production levels commenced in Youanmi Main
- Ore drive development largely completed on first two levels in United North
Rox Resources (ASX: RXL) is ramping up construction and mining activities at the Youanmi gold mine in Western Australia.
“Construction works have accelerated in recent weeks as we start to transform the Youanmi Gold Mine into a production and processing hub, ahead of first gold pour next year,” MD and CEO, Phill Wilding, said.
“Importantly, all works are firmly on schedule. Bulk earthworks have been completed at all sites in the Youanmi processing plant area, with concreting now complete for the screen plant and CIL plant, and tanks under construction.
“The tailings dam has started taking shape, with clearing completed, cut-off drain established and preparations underway to build the outer wall.”
Mr Wilding added that mining has also progressed well, with the initial levels in United North now complete and extending well past the definitive feasibility study mine plan.
He told shareholders that works are also progressing to commence production stoping, as the high-grade ore stockpile continues to grow.
“Works on stripping the historic Youanmi Main decline have also progressed to the point where our team has focused on turning out the initial access to the first production levels, along with upgrading the pumping infrastructure,” he said.
“The accommodation camp has also reached a point of practical completion, with 351 rooms now available, giving our teams fantastic new facilities.
“This rapidly advancing on-site activity is setting the stage for the Youanmi Gold Mine to progress towards our aspiration of becoming a 150,000 ounces per annum operation in future years.”
The project is also on target to receive a number of long lead items in site shortly:
• First shipment of Albion tanks departed late August, due in Perth in late September
• Crushers (primary, secondary and tertiary) all in transit
• Ball mill for limestone circuit in Perth
• Rock breaker in Perth
Elsewhere, the bulk earthworks contractor has commenced works for the tailings storage facility, with clearing now complete, cut-off drain largely complete, and test pads complete ahead of construction of the dam outer wall.
Mining has continued to exceed overall advance rates from the DFS, with 577m of mining completed in August, including 431m of development advance across the three mining areas and 146m of stripping in the historic Youanmi Decline. Accesses to the first production levels in Youanmi Main have commenced from the main decline.
RXL was steady at 62.0¢ with a Mkt cap of $870.9M prior to markets opening.
Join the discussion: See what HotCopper users are saying about Rox Resources right now and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
