Robex Pours First Gold at Kiniero on Schedule and Budget

The most recent release (December 21, 2025) announces the first gold pour at the Kiniéro Gold Project in Guinea. This milestone was achieved on schedule (originally targeted for Q4 2025) and within the feasibility study budget. The pour yielded 85 ounces of gold. Commissioning is currently progressing, and the company maintains its target for commercial production in Q1 2026. Simultaneously, Robex announced exclusive options to buy back and extinguish Net Smelter Return (NSR) royalties on the Mansounia permit (3% to 3.5% NSR and a separate 0.5% NSR) for a total consideration of US$8.5 million in cash and US$15 million in equity.

The first gold pour is a de-risking event of the highest order. It validates management's ability to execute a complex construction project in West Africa on time and on budget. - Operational Transition: Robex is transitioning from a junior producer with a single aging asset (Nampala) to a mid-tier producer with a high-margin flagship project. - Financial Flexibility: The ability to buy back royalties at Mansounia for US$23.5M (total value) is a strategic move to improve long-term project margins, though it will require a significant equity issuance ($15M) and cash outlay. - M&A Context: This news arrives during a "matching period" following a superior proposal from Perseus Mining for Robex’s merger partner, Predictive Discovery. Demonstrating operational success at Kiniéro strengthens Robex's position in merger negotiations or as a standalone entity if the Predictive deal fails.

Robex Resources is a West African gold producer and developer. - Kiniéro (Guinea): The flagship project. It has an 85% ownership stake. It is an open-pit operation with a 5 Mtpa CIL plant. Reserves are 1.41 million ounces @ 0.97 g/t. - Nampala (Mali): An operating mine producing ~47,000 ounces per year. It has a short mine life (currently extending to late 2026/2027) and acts as the cash flow engine for the group.