Robex Announces Amendments to Sprott Facility Agreement
Robex Resources (OTC:RSRBF) has announced significant amendments to its US$130 million senior secured facility agreement with Sprott Resource Lending. Under the revised terms, Robex can now access US$90 million of the remaining US$105 million facility without requiring the Mansounia Exploitation Permits or Mining Convention.
Key changes include an immediate US$30 million draw down and US$60 million held in a Debt Proceeds Account. The final US$15 million remains contingent on receiving the Mansounia permits, available until December 31, 2026. The company will establish a Liquidity Coverage Account of up to US$65 million, funded through warrant proceeds and excess cashflow. The facility term may be reduced to March 31, 2029, if permits aren't granted before then.
Robex Resources (OTC:RSRBF) ha annunciato modifiche significative al suo accordo di finanziamento senior garantito da 130 milioni di dollari con Sprott Resource Lending. Con i nuovi termini, Robex può ora accedere a 90 milioni di dollari sui restanti 105 milioni senza la necessità dei permessi di sfruttamento di Mansounia o della Convenzione mineraria.
Le principali novità prevedono un prelievo immediato di 30 milioni di dollari e 60 milioni di dollari depositati in un Conto dei Proventi del Debito. Gli ultimi 15 milioni di dollari restano vincolati al rilascio dei permessi di Mansounia e saranno disponibili fino al 31 dicembre 2026. La società costituirà inoltre un Conto per la Copertura della Liquidità fino a 65 milioni di dollari, finanziato con i proventi delle warrant e liquidità eccedente. La durata dell'accordo potrà essere ridotta al 31 marzo 2029 se i permessi non verranno concessi prima di tale data.
Robex Resources (OTC:RSRBF) ha anunciado enmiendas importantes a su acuerdo de facilidad garantizada senior de 130 millones de USD con Sprott Resource Lending. Bajo los términos revisados, Robex puede ahora disponer de 90 millones de USD de los 105 millones restantes sin requerir los permisos de explotación de Mansounia ni la Convención minera.
Los cambios clave incluyen un desembolso inmediato de 30 millones de USD y 60 millones de USD retenidos en una Cuenta de Productos de Deuda. Los últimos 15 millones de USD quedan condicionados a la obtención de los permisos de Mansounia y estarán disponibles hasta el 31 de diciembre de 2026. La compañía establecerá una Cuenta de Cobertura de Liquidez por hasta 65 millones de USD, financiada con ingresos de warrants y flujo de caja excedente. El plazo de la facilidad podrá acortarse hasta el 31 de marzo de 2029 si los permisos no se conceden antes de esa fecha.
Robex Resources (OTC:RSRBF)는 Sprott Resource Lending과의 1억 3천만 달러 선순위 담보 대출 계약에 중대한 수정사항을 발표했습니다. 수정된 조건에 따라 Robex는 Mansounia 채굴 허가나 광산 협약 없이 남은 1억 500만 달러 중 9천만 달러에 접근할 수 있습니다.
주요 변경 사항으로는 즉시 실행되는 3천만 달러 인출과 6천만 달러가 채무 수익 계좌에 예치되는 점이 포함됩니다. 마지막 1천5백만 달러는 Mansounia 허가 취득이 조건이며 2026년 12월 31일까지 이용 가능하게 됩니다. 회사는 워런트 수익과 초과 현금흐름으로 자금을 조달하는 최대 6천5백만 달러 규모의 유동성 보유 계좌를 설정할 예정입니다. 허가가 그 이전에 나오지 않으면 대출 기간은 2029년 3월 31일로 단축될 수 있습니다.
Robex Resources (OTC:RSRBF) a annoncé des modifications importantes de sa facilité senior garantie de 130 millions USD avec Sprott Resource Lending. Selon les termes révisés, Robex peut désormais accéder à 90 millions USD des 105 millions restants sans nécessiter les permis d'exploitation de Mansounia ni la convention minière.
Parmi les changements clés figurent un tirage immédiat de 30 millions USD et 60 millions USD placés sur un compte des produits de la dette. Les derniers 15 millions USD demeurent conditionnés à l'obtention des permis de Mansounia et seront disponibles jusqu'au 31 décembre 2026. La société constituera un compte de couverture de liquidité pouvant atteindre 65 millions USD, financé par les produits des bons de souscription et par l'excédent de trésorerie. La durée de la facilité pourra être raccourcie au 31 mars 2029 si les permis ne sont pas délivrés d'ici là.
Robex Resources (OTC:RSRBF) hat wesentliche Änderungen an seiner 130 Millionen USD Senior Secured Facility mit Sprott Resource Lending bekanntgegeben. Unter den überarbeiteten Bedingungen kann Robex nun auf 90 Millionen USD der verbleibenden 105 Millionen zugreifen, ohne die Mansounia-Abbaulizenzen oder das Bergbauabkommen vorlegen zu müssen.
Zentrale Änderungen umfassen eine sofortige 30-Millionen-USD-Auszahlung und 60 Millionen USD, die auf einem Debt Proceeds Account gehalten werden. Die letzten 15 Millionen USD bleiben an den Erhalt der Mansounia-Genehmigungen gebunden und sind bis zum 31. Dezember 2026 verfügbar. Das Unternehmen richtet ein Liquiditätsdeckungs-Konto von bis zu 65 Millionen USD ein, finanziert durch Erlöse aus Warrants und überschüssigen Cashflow. Lägen die Genehmigungen nicht vorher vor, kann die Laufzeit der Facility auf den 31. März 2029 verkürzt werden.
- Access to US$90 million without requiring Mansounia permits, providing immediate funding flexibility
- Immediate access to US$30 million drawdown for project development
- Establishment of US$65 million Liquidity Coverage Account providing additional financial buffer
- Project remains on track for first gold pour in December 2025
- Facility term potentially reduced by one year if permits not obtained
- Final US$15 million contingent on obtaining Mansounia permits by December 2026
- 40% of excess cashflow must be directed to Liquidity Coverage Account starting September 2026
QUEBEC CITY, Sept. 04, 2025 (GLOBE NEWSWIRE) -- West African gold producer and developer Robex Resources Inc (“Robex” or the “Company”) (ASX: RXR | TSX-V: RBX | OTC: RSRBF | Börse Frankfurt: RB4) is pleased to provide an update on its US
Facility Background
On March 17, 2025, the Company closed a US
Amendments to Sprott Facility Agreement
Robex and Sprott have agreed to amendments to the SFA. Under the revised terms, Robex now has access to US
The final US
As part of the amended SFA terms, Robex will establish a Liquidity Coverage Account (“LCA”). The LCA is to be funded up to US
- Warrant proceeds exceeding US
$11 million up to a maximum deposit of US$55 million ; and 40% of Excess Cashflow, starting from 30 September 2026, until the account reaches the target balance.
Importantly, the balance of the LCA is available to Robex once the Mansounia Exploitation Permit and Mining Convention is obtained.
Robex’s Managing Director and CEO Matt Wilcox commented:
"The amended facility terms with Sprott represent a significant milestone for Robex, providing enhanced funding flexibility to advance the development of the Kiniéro Gold Project. The ability to access a substantial portion of the facility without the immediate requirement for the Mansounia permits reflects the strength of our relationship with Sprott and their continued confidence in our team and project. We remain focused on delivering value for our shareholders as we progress toward first gold pour in December 2025."
This announcement was approved by the Managing Director.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robex Resources Inc.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
Email: investor@robexgold.com
www.robexgold.com
Investors and Media:
Nathan Ryan
NWR Communications
+61 420 582 887
nathan.ryan@nwrcommunications.com.au
FORWARD-LOOKING INFORMATION AND FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation (referred to herein as “forward-looking statements”). Forward-looking statements are included to provide information about the Company’s management’s (“Management’s”) current expectations and plans that allow investors and others to have a better understanding of the Company’s business plans and financial performance and condition.
Statements made in this news release that describe the Company’s or Management’s estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward-looking statements”, and can be identified by the use of the conditional or forward-looking terminology such as “aim”, “anticipate”, “assume”, “believe”, “can”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “guide”, “indication”, “intend”, “intention”, “likely”, “may”, “might”, “objective”, “opportunity”, “outlook”, “plan”, “potential”, “should”, “strategy”, “target”, “will” or “would” or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. In particular and without limitation, this news release contains forward-looking statements pertaining to the Facility Agreement, including the fulfilment of the conditions precedent thereunder, the ability of the Company to utilize any proceeds from the Initial Utilization, the ability of the Company to draw down on the Debt Facility for each Subsequent Utilization, the development of the Kiniero Gold Project and the issuance of Bonus Shares.
Forward-looking statements and forward-looking information are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements or information. There can be no assurance that such statements or information will prove to be accurate. Such statements and information are based on numerous assumptions, including: the ability to execute the Company’s plans relating to the Kiniero Gold Project as set out in the feasibility study with respect thereto, as the same may be updated, the whole in accordance with the revised timeline previously disclosed by the Company; the Company’s ability to complete its planned exploration and development programs; the absence of adverse conditions at the Kiniero Gold Project; the absence of unforeseen operational delays; the absence of material delays in obtaining necessary permits; the price of gold remaining at levels that render the Kiniero Gold Project profitable; the Company’s ability to continue raising necessary capital to finance its operations; the ability of the Company to realize on the mineral resource and mineral reserve estimates; assumptions regarding present and future business strategies, local and global geopolitical and economic conditions and the environment in which the Company operates and will operate in the future; the Company’s ability to complete the listing of its common shares on the Australian Securities Exchange (“ASX”), and the anticipated timing of such listing; satisfaction of the conditions precedent under the Facility Agreement; the Borrower’s access to the facility made available under the Facility Agreement; and the utilization of any amount received by the Borrower under the Facility Agreement for the purposes identified by the Company.
Certain important factors could cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements including, but not limited to: the risk that the Borrower is unable to fulfil the conditions precedent to drawdowns under the Facility Agreement, and is therefore not able to borrow some or all of the principal amount otherwise available under the Facility Agreement; the risk that the Company is unable to generate sufficient cash flow or complete subsequent debt or equity financings to allow it to repay amounts borrowed under the Facility Agreement; the risk that the obligors under the Facility Agreement are unable to comply with the financial and other covenants under the Facility Agreement, giving rise to an event of default; geopolitical risks and security challenges associated with its operations in West Africa, including the Company’s inability to assert its rights and the possibility of civil unrest and civil disobedience; fluctuations in the price of gold; uncertainties as to the Company’s estimates of mineral reserves and mineral resources; the speculative nature of mineral exploration and development; the replacement of the Company’s depleted mineral reserves; the Company’s limited number of projects; the risk that the Kiniero Gold Project will never reach the production stage (including due to a lack of financing); the Company’s capital requirements and access to funding; changes in legislation, regulations and accounting standards to which the Company is subject, including environmental, health and safety standards, and the impact of such legislation, regulations and standards on the Company’s activities; equity interests and royalty payments payable to third parties; price volatility and availability of commodities; instability in the global financial system; uncertainty surrounding the imposition of tariffs by one country, including, but not limited to, the United States, on goods or services being imported into that country from another country and the ultimate effect of such tariffs on the Company’s supply chains; the effects of high inflation, such as higher commodity prices; fluctuations in currency exchange rates, particularly as between the Canadian dollar, in which the Company presently raises its equity financings, and the US dollar; the risk of any pending or future litigation against the Company; limitations on transactions between the Company and its foreign subsidiaries; volatility in the market price of the Common Shares; tax risks, including changes in taxation laws or assessments on the Company; the Company obtaining and maintaining titles to property as well as the permits and licenses required for the Company’s ongoing operations; changes in project parameters and/or economic assessments as plans continue to be refined; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; the effects of public health crises on the Company’s activities; the Company’s relations with its employees and other stakeholders, including local governments and communities in the countries in which it operates; the risk of any violations of applicable anticorruption laws, export control regulations, economic sanction programs and related laws by the Company or its agents; the risk that the Company encounters conflicts with small-scale miners; competition with other mining companies; the Company’s dependence on third-party contractors; the Company’s reliance on key executives and highly skilled personnel; the Company’s access to adequate infrastructure; the risks associated with the Company’s potential liabilities regarding its tailings storage facilities; supply chain disruptions; hazards and risks normally associated with mineral exploration and gold mining development and production operations; problems related to weather and climate; the risk of information technology system failures and cybersecurity threats; the risk that the Company is not able to complete the listing of its common shares on the ASX within the anticipated timeframe or at all; the risk that the Borrower is not able to access the proceeds of the Debt Facility or use any amount received under the Facility Agreement for the purposes identified by the Company; and the risk that the Company may not be able to insure against all the potential risks associated with its operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors are not intended to represent a complete and exhaustive list of the factors that could affect the Company; however, they should be considered carefully. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
The Company undertakes no obligation to update forward-looking information if circumstances or Management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information.
The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company’s plans and objectives, and may not be appropriate for other purposes.
See also the “Risk Factors” section of the Company’s Annual Information Form, available under the Company’s profile on SEDAR+ at www.sedarplus.ca or on the Company’s website at www.robexgold.com, for additional information on risk factors that could cause results to differ materially from forward-looking statements. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
FAQ
What are the key changes to Robex Resources' (RSRBF) Sprott facility agreement?
How much of the Sprott facility is still contingent on Mansounia permits for RSRBF?
When is Robex Resources (RSRBF) expecting first gold pour at the Kiniéro Project?
How will the Liquidity Coverage Account (LCA) for RSRBF be funded?
What happens to RSRBF's facility term if Mansounia permits are not obtained?
