West Australian-focused gold exploration and development company Rox Resources (ASX: RXL) Directors have presented their report together with the consolidated financial report for the half year ended 31 December 2022.
Operations
The net loss after tax for the half-year ended 31 December 2022 was $3.0 million (2021: $7.9 million). This loss is predominantly attributable to expenditure on exploration and evaluation activities during the period totalling $3.0 million (2021: $5.5 million) and total corporate expenses of $0.9 million (2021: $0.6 million), which is partly offset by the gain on the sale of the Company’s investment in Cannon Resources Limited, $2.3m.
Projects
The Group has two advanced projects that are prospective for gold:
- Youanmi Gold Project; and
- Mt Fisher / Mt Eureka Gold Project
Both projects contain JORC mineral resource estimates and are located in Western Australia.
