Rox Resources Limited has initiated a crucial phase at its Youanmi Gold Project in Western Australia, signalling significant progress on its pathway to production. The company has commenced dewatering at the Main and United North pits, with equipment already installed and pumping underway. At United North, water is being pumped at a rate of 40 litres per second into the Kathleen pit, while at the Main pit, the process is running at 100 litres per second with initial discharge into evaporation ponds before transitioning to the Kathleen and Rebel pits once capacity is reached. The timely start to these operations is expected to dewater the United North pit by late Q3 2025 and the Main pit by late Q4 2025, paving the way for exploration declines scheduled in early Q4 2025 at United North and early Q1 2026 at the Main pit’s Pollard area. Alongside these operational milestones, Rox Resources Limited has secured the necessary permitting for increased water discharge volumes into key pits, ensuring robust long-term water management. The announcement also highlighted that major early works—including early site access for underground mining—are on track to complement a well-advanced drill program. The company’s ongoing drilling, which has reached 46,000 metres, is contributing to an updated Mineral Resource Estimate expected in mid-July 2025. This resource update, along with a series of concurrent studies in processing plant design, metallurgical test work with its Albion Process™, geotechnical, hydrological, and tailings dam design, underpins a strategic push towards delivering a robust Definitive Feasibility Study. Looking ahead, Rox Resources Limited maintains an indicative pathway to production that involves continued dewatering, further drilling around near-mine and regional targets, and progressing key permitting processes alongside project financing discussions with debt advisors. Extensive refurbishment of evaporation ponds and the installation of dewatering infrastructure are complemented by comprehensive design work for the processing plant and tailings storage facility. The project is designed to ensure early access to underground portals and to de-risk initial start-up, laying the foundation for high-grade gold production at a competitive level. The sentiment emanating from this development is mixed. On the bullish side, the swift commencement of dewatering operations and the acceleration of key exploration activities may be seen as a positive indication of the company’s commitment to unlocking value at one of Western Australia’s most promising high-grade gold projects. Investors may also view the on-track progress towards significant technical milestones and the upcoming resource update as catalysts for future growth. Conversely, the bearish perspective acknowledges that the success of future operations is contingent upon the reliable execution of subsequent mining declines and further permitting processes. Additionally, uncertainties inherent in transitioning from exploration to full-scale production, including potential delays in DFS completion and challenges in securing project financing, may temper investor enthusiasm among more risk-averse traders.