December 2025 Quarterly Activities Report
Robex Evolves from Single-Mine Operator to West African Mid-Tier Heavyweight Following Kiniero First Gold and PDI Merger Approval
The most recent news release (January 30, 2026) and the series of announcements leading up to it confirm that Robex Resources has successfully transitioned from a developer to a multi-mine producer while simultaneously securing a transformational merger. Key highlights include: - Kiniero Gold Project: Achieved first gold pour on December 21, 2025, strictly on time and on budget. The December 2025 quarter produced 790 ounces during commissioning. - Predictive Discovery (PDI) Merger: Shareholders overwhelmingly approved (94.54%) the merger with PDI. Final court approval from the Superior Court of Quebec was received on January 13, 2026. The transaction is expected to close in Q1 2026. - Financial Liquidity: The company successfully triggered a warrant acceleration, resulting in the exercise of nearly all outstanding warrants (32.2 million in the final batch), providing C$82.2 million in gross proceeds in the latest quarter alone, following an earlier C$148.2 million influx in October 2025. - Nampala Mine: Continued steady production in Mali with 11,028 ounces produced in Q4 FY25, meeting the lower end of full-year guidance (45,429 ounces total).
The impact is Material - Game Changer. - Operational De-risking: Pouring gold at Kiniero "on time and on budget" in the West African jurisdiction is a significant feat that validates management's execution capability. This removes the "construction risk" premium from the stock. - Structural Transformation: The merger with PDI creates a company with a pathway to 400,000+ ounces of annual production by 2029. It combines Robex's cash flow and construction expertise with PDI's world-class Bankan Project (9.5Moz resource). - Balance Sheet Strength: The massive influx of capital from warrant exercises (~C$230M total in late 2025) has essentially eliminated short-term insolvency risks and provides the equity cushion needed to support the US$130 million Sprott debt facility. - Jurisdictional Shift: While still in West Africa, the pivot toward Guinea (Kiniero and Bankan) reduces the relative exposure to Mali, which has recently implemented a more aggressive fiscal regime (2023 Mining Code).
Robex Resources is a West African gold producer. - Flagship Project: The Kiniero Gold Project in Guinea. It is a brownfield redevelopment of a past-producing mine. It is now in production/commissioning phase with an estimated 9-year mine life and average production of 139koz/year. - Secondary Asset: The Nampala Mine in Mali, a steady low-grade, high-tonnage operation producing approximately 45-50koz/year. - Post-Merger Asset: The Bankan Project (Guinea), one of the largest gold discoveries in West Africa in recent years, which will become the core growth engine of the combined PDI/Robex group.