Rox Resources Limited (“Rox”) has released its Youanmi Gold Project Definitive Feasibility Study outlining high-grade, high-margin gold production at,as well as an A$200m equity raise. The capital raised will be used to fund mine development at Youanmi and the construction of a 1Mtpa processing plant, supporting Rox’s transition from developer to producer. First gold production is targeted for mid-2027, marking a significant milestone in the project’s development and in Rox’s growth strategy.

Hawke’s Point looks forward to continuing its support of Rox as it enters this exciting next phase.

Hawke’s Point participated in the $55.0 million institutional capital raise for AIC Mines Limited (“AIC Mines”). In conjunction with this investment, Hawke’s Point has entered into a strategic investor agreement, establishing a framework for future support and collaboration.

AIC Mines is a Queensland, Australia-based copper mining, exploration, and development company. It owns the Eloise copper mine, a high-grade operating underground mine, and the Jericho deposit, located near Eloise.

The funds raised will enable AIC Mines to advance development of the Jericho copper mine and expand the existing Eloise processing plant.

Hawke’s Point views its investment in AIC Mines as a compelling opportunity to gain exposure to a copper asset with strong growth potential and a range of attractive characteristics. We look forward to supporting the AIC Mines team as they execute on their strategic vision.

Magna Mining is a Sudbury, Ontario-based copper and nickel mining, exploration, and development company. Magna Mining has acquired a portfolio of base metal assets in the Sudbury Basin from an affiliate of KGHM International Limited. These assets include the producing McCreedy West copper mine, the previously producing Levack, Podolsky and Kirkwood mines and various exploration properties. The acquisition represents a pivotal moment for Magna Mining, strengthening its asset portfolio and marking its transition from a developer to a producer.

The takeover offer from Kinterra Capital has successfully completed, divesting Hawke’s Point from its holding in Cannon Resources. The all-cash offer of $0.45 per share represented a 43% premium to Cannon’s last closing price, and a 58% premium to the 30-day VWAP.

Hawke’s Point believes the offer represents an excellent opportunity to maximize value for its investment by selling the assets to Kinterra who has stated its intention to bring Fisher East into production on an accelerated basis.

Hawke’s Point has invested in Magna Mining Inc. (“Magna Mining”). Magna Mining is an exploration and development company focused on copper, nickel and PGM projects in the Sudbury region of Ontario, Canada. This marks Hawke’s Point’s first investment in Canada.

Investment proceeds will be used to fund the acquisition by Magna Mining of the past-producing Crean Hill mine, as well as to support ongoing exploration and development across Magna Mining’s broader asset base.

Hawke’s Point looks forward to supporting Magna Mining as it continues to advance its projects in the Sudbury region.

Cannon Resources, a currently wholly owned subsidiary of Rox Resources Limited, has demerged from Rox and listed on the ASX. Eligible shareholders, including Hawke’s Point, will receive new Cannon shares via an in-specie distribution.

The demerger reflects Rox Resources’ strategic focus on advancing the Youanmi Gold Project, enabling a dedicated management team to focus on maximising the potential of the Cannon Resources assets.

Hawke’s Point looks forward to working with Cannon to progress the demerged Fisher East and Collurabbie nickel projects in Western Australia.

Hawke’s Point portfolio company Capricorn Metals Limited (“Capricorn”) announced the first gold pour at its wholly owned Karlawinda Gold Project (“Karlawinda”) on 30 June 2021.

The first pour marks a major step forward for Capricorn, as Karlawinda transitions into the Capricorn’s first producing asset. During the initial 6-day start-up period, the ball mill achieved throughput rates of up to 480 tonnes per hour (equivalent to 4.25 million tonnes per annum) on an ad-hoc basis, resulting in a total of 386 gold ounces poured.

The achievement reflects the operational execution and readiness of the Karlawinda site. Hawke’s Point congratulates Capricorn on this important milestone and looks forward to seeing Karlawinda progress toward full commercial production in the coming quarters.

Hawke’s Point has invested in Rox Resources Limited (“Rox Resources”) through an A$11.0 million equity placement. Rox Resources is a Western Australia-based company focused on the exploration and development of gold projects, with a primary focus on redeveloping the historic Youanmi gold mine. The investment follows comprehensive technical and other due diligence conducted by Hawke’s Point, which assessed the Youanmi Gold Project as a high-grade resource with significant potential for growth and development and a viable and predictable path to production.

We are excited to support Rox Resources in advancing the Youanmi resource and progressing the high-grade gold deposit towards commercial development.

Eastern Goldfields Limited has recapitalised and relisted on the ASX as Ora Banda Mining Limited. The company relists with A$15.0 million in cash to pursue resource drill out, detailed mine planning and regional exploration programs. Further studies are planned to re-evaluate resources and operations to underpin a measured and value-driven production restart.

Hawke’s Point has participated in a subscription agreement with Eastern Goldfields Limited (“Eastern Goldfields”) as part of a wider institutional placement to raise a total of A$30.6 million.

Eastern Goldfields is a Western Australia-based gold developer that owns and operates the Davyhurst gold mine, along with the Mt Ida and Menzies development projects. Funds from the raise will allow for payment of trade creditors, additional exploration, ongoing resource development and feasibility studies, and general working capital.

Hawke’s Point believes the Eastern Goldfields’ district-scale tenements possess significant geological prospectivity, underpinned by favourable structural settings and mineralisation potential. Additionally, it believes that the presence of an operational processing facility offers a streamlined pathway to bring newly discovered deposits into production, reducing both time and capital requirements.