Rox Resources completes first tranche of A$200m capital raise

Rox Resources Limited (ASX:RXL) announced on November 21, 2025, the completion of Tranche 1 of its placement, raising A$66 million (before costs) through the issue of 188,712,628 fully paid ordinary shares at A$0.35 per share. This initial tranche utilized the company's existing placement capacity under ASX Listing Rules 7.1 and 7.1A. The total placement aims to raise up to A$200 million (before costs), with Tranche 2, projected to raise A$134 million (before costs), pending shareholder approval at a meeting scheduled for December 17, 2025.

In conjunction with the Tranche 1 completion, Rox Resources issued a cleansing statement under section 708A(5)(e) of the Corporations Act 2001 (Cth), confirming the shares were issued without disclosure, the company's compliance with Chapter 2M, sections 674 and 674A of the Act, and the absence of any excluded information requiring disclosure.

The placement has resulted in a dilution of voting power for substantial holder Venus Metals Corporation Limited and Redscope Enterprises Pty Ltd. Their voting power in Rox Resources decreased from 7.48% (54,625,000 votes) as of May 13, 2025, to 5.32% (50,168,078 votes) as of November 21, 2025, following the issuance of new shares in Tranche 1.