Rox Resources (RXL) investor relations material

Project Development and Milestones

• Fully funded and permitted high-grade gold project with mining underway since November 2024 and mill construction in progress, targeting first gold pour by mid-2027.

• Achieved key milestones including dewatering, site construction, permitting, and final investment decision by March 2026.

• Construction of the mill began seven weeks prior to the conference, with high-grade ore stockpiles being built 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.

• Stockpiling commenced, with 30,000 tons at nearly 3 g/t on the ROM and a target of 190,000 tons at 3.3–3.5 g/t before mill start.

Production and Growth Outlook

• Initial production ramp-up set for late 2027, aiming for 117,000–150,000 ounces per annum over a multi-year timeframe and an initial 7-year mine life.

• Mine plan covers 900,000 ounces over the first seven years, with potential to increase output and mine life through resource conversion and exploration.

• Plant designed with 11% excess capacity, allowing for throughput increases without major capital, with initial throughput at 900 ktpa versus 1,000 ktpa nameplate.

• Exploration and infill drilling ongoing, targeting conversion of inferred resources and step-out extensions, with substantial pipeline of near-mine and regional targets.

• Project surrounded by multi-million-ounce producers, with 62 km of underexplored strike and multiple regional targets identified.

Financials and Economics

• DFS projects free cash flow of AUD 2.7 billion at current gold prices, with NPV of A$1.4 billion (pre-tax) and IRR of 69% at base case.

• Low all-in sustaining cost (AISC) of AUD 1,978/oz, generating high margins at a DFS gold price of AUD 5,200/oz.

• Pre-production capital of AUD 383 million, with AUD 218 million equity raised and up to AUD 350 million in debt facilities secured.

• Market cap between AUD 500–550 million as of July 2026, with strong institutional support and a cash balance of AUD 152.7 million.

• No mandatory hedging; flexible debt package with no covenants, and puts in place at AUD 5,700/oz for half of first-year production.