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FINWIRES

Rox Resources' Cash Balance Drops in June Quarter

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Rox Resources (ASX:RXL) ended June with a cash balance of AU$152.7 million, marking a decrease of AU$47.7 million from its balance as of March 31, according to a Wednesday filing with the Australian bourse.

The decline came as the company spent AU$22.6 million to acquire property, plant, and equipment and incurred AU$15.8 million of mine development expenditure during the June quarter, per the filing.

Rox Resources said processing plant construction has started at its Youanmi gold mine in Western Australia, with first gold pour targeted in 2027.

The company's shares fell 1% in recent Wednesday trade.

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