September 2025 Quarterly Activities Report
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The October 31, 2025, news release provides a comprehensive activities report for the September 2025 quarter. Key points include: - Kiniero Gold Project: Construction remains on schedule for the first gold pour in Q4 2025. Mining operations have commenced, with ore being delivered to the ROM pad. Specific construction progress includes completed concrete works, completed SAG mill assembly, near-complete ball mill assembly, and the tailings storage facility (TSF) being 76% complete. - Nampala Gold Mine: Produced 9,774 ounces of gold in Q3. The company reiterated its full-year 2025 production guidance of 46,000 to 48,000 ounces. - Corporate & Financing: - Reaffirmed the planned merger of equals with Predictive Discovery, expected to close in early 2026. - Confirmed the amendment to the US$130 million Sprott senior secured debt facility. - Announced the successful acceleration of warrants, resulting in the exercise of 58,125,998 warrants for gross proceeds of C$148.2 million. Only 130,006 warrants expired unexercised. - Exploration & Personnel: A 20,000m drilling program commenced at Kiniero, and a new Chief Exploration Officer was appointed.
The quarterly report is rated Material - Positive. While much of the operational news confirms previously announced milestones (Kiniero progress, PDI merger), the official confirmation of the C$148.2 million cash injection from the warrant exercise is highly material.
This single event dramatically strengthens the company's balance sheet. It fully de-risks the remaining construction and commissioning of the Kiniero project, eliminates any near-term financing concerns, and provides substantial working capital for the crucial production ramp-up phase. Furthermore, this capital provides immense flexibility for the combined entity post-merger with Predictive Discovery, allowing for accelerated exploration at the world-class Bankan project and smoothing the path for its development.
The consistent, on-schedule, on-budget execution at Kiniero continues to be a major positive, building confidence in management's ability to deliver. The Nampala operations provide a steady, albeit high-cost, production base. The combination of a fortified treasury, flawless project execution, and a transformational merger in progress makes this update a significant positive confirmation of the company's trajectory. The news removes the warrant overhang that was on the stock and solidifies the company's financial position for the foreseeable future.
Robex Resources Inc. is a West African gold producer and developer. It currently operates the Nampala Gold Mine in Mali. Its flagship project is the Kiniero Gold Project in Guinea, which is in the final stages of construction and expected to pour its first gold in Q4 2025.
The Kiniero project, based on a January 2025 Feasibility Study, has 1.41 million ounces in reserves and is projected to produce an average of 139,000 ounces per year over 9 years at an All-In Sustaining Cost (AISC) of US$1,066/oz.
On October 5, 2025, the company announced a transformational "merger of equals" with Predictive Discovery (ASX:PDI). This merger will combine Robex's near-term production from Kiniero with PDI's large-scale Bankan Gold Project, also in Guinea. The combined entity aims to become West Africa's next mid-tier gold producer with a targeted production profile exceeding 400,000 ounces per year by 2029.