Robex amends Sprott facility for Kiniero financing

Executive Summary

• Robex Resources Inc. amended its $130 million senior secured facility with Sprott, increasing immediate accessible funding to $90 million without needing the Mansounia exploitation permits.
• The amendment provides an upfront $30 million drawdown and places $60 million in a debt‑proceeds account, with the remaining $15 million contingent on permit receipt or return by 31 Dec 2026.
• A new Liquidity Coverage Account (LCA) may be funded up to $65 million via warrant proceeds and excess cash flow, enhancing overall financing flexibility for the Kiniero gold project.

Key Details

• Original facility: $130 million senior secured agreement closed 17 Mar 2025; first $25 million drawdown on 19 Mar 2025.
• Amended access: Robex can now draw $90 million of the remaining $105 million without requiring Mansounia exploitation permits or mining convention.
• Immediate funding: $30 million drawdown available immediately under amended terms.
• Debt‑proceeds account: $60 million held pending standard release conditions; additional $15 million also held, contingent on permit receipt, available until the earlier of permit issuance or 31 Dec 2026 (otherwise returned to Sprott).
• Term adjustment: Facility maturity shortened from 31 Mar 2030 to 31 Mar 2029 if permits are not granted by 31 Mar 2029.
• Liquidity Coverage Account (LCA): Up‑to $65 million financing, comprising:
• Warrant proceeds exceeding $11 million, capped at a $55 million deposit.
• 40 % of excess cash flow starting 30 Sep 2026 until the LCA reaches its target balance.
• Access to LCA funds contingent upon obtaining Mansounia exploitation permit and mining convention.
• Management comment: CEO Matt Wilcox highlighted the amendment as a “significant milestone” that provides enhanced funding flexibility and supports progress toward the first gold pour slated for Dec 2025.

Notable Quotes

“The amended facility terms with Sprott represent a significant milestone for Robex, providing enhanced funding flexibility to advance the development of the Kiniero gold project… We remain focused on delivering value for our shareholders as we progress toward first gold pour in December, 2025.” – Matt Wilcox, Managing Director & CEO.