ROX RESOURCES LIMITED (RXL)
Share Price Analysis and Chart

11/05/2026

1

Speculative Buy

$1.30

205.88%

Canaccord Genuity maintains a Speculative Buy rating for Rox Resources with an unchanged $1.30 target price following the achievement of major development milestones at the Youanmi Gold Project.

The broker notes the Main Pit dewatering process is now complete, allowing the business to transition toward underground dewatering and accelerate development on the Main and Pollard declines.

Underground operations at United North are materially outperforming definitive feasibility study assumptions, achieving a record 342m of advance in April while early face sampling validates the geological model with grades above 4.99g/t of gold.

Following a final investment decision and $30m in recent quarterly development spending, the company retains $200m in cash and access to $350m in debt facilities to fund the ramp-up of surface construction and infrastructure activities.

The report anticipates near-term catalysts including further contract awards and the commencement of processing plant construction as the project remains on track for production in mid-2027.