Robex Resources Inc (ASX: RXR), a West African gold producer and developer, has announced amendments to its US$130 million senior secured facility agreement with Sprott Resource Lending. The facility underpins the development of the Kiniéro Gold Project in Guinea. The original agreement, closed on March 17, 2025, provided initial funding of US$25 million for the construction phase. Robex Resources is focused on gold production and exploration in West Africa, aiming to create value through responsible and sustainable mining practices. They are committed to operational excellence and community development in the regions where they operate.
The amended terms provide Robex with increased access to funds, allowing for a US$30 million immediate drawdown and access to a further US$60 million held in a Debt Proceeds Account, subject to standard release conditions, without requiring the Mansounia Exploitation Permits or Mining Convention. The remaining US$15 million will be held in the Debt Proceeds Account, contingent on receipt of the Mansounia Exploitation Permits and Mining Convention, available until December 31, 2026.
As part of the agreement, Robex will establish a Liquidity Coverage Account (LCA) to be funded up to US$65 million through warrant proceeds and a percentage of excess cashflow. The LCA balance becomes accessible to Robex upon obtaining the Mansounia Exploitation Permit and Mining Convention. The term of the SFA will be reduced from March 31, 2030, to March 31, 2029, if the Mansounia Exploitation Permits are not granted before March 31, 2029.
Matt Wilcox, Managing Director and CEO of Robex, stated that the amended facility terms provide enhanced funding flexibility to advance the Kiniéro Gold Project development. He emphasised the company’s commitment to delivering value for shareholders as they progress toward the first gold pour in December 2025.
