02:14 PM EDT, 05/30/2025 (MT Newswires) -- Robex Resources ( RSRBF ) on Friday said it completed an initial public offering on the Australian Securities Exchange (ASX) of around 38.6-million CHESS Depositary Interests (CDIs) at A$3.11 each (approximately C$2.73), to raise A$120 million before associated costs.

Each CDI represents one underlying share of Robex.

The West African gold production and development company said it received approval from the ASX, subject to the usual conditions, for its admission to the Official List and to the Official Quotation of its CDIs.

The company expects the trading in its CDIs, assigned a code of "RXR", on the ASX to begin on a normal settlement basis on June 5.

A statement noted that the offer received conditional TSX Venture Exchange acceptance and that the final approval of the TSXV is subject to receipt by the TSXV of customary closing materials.

Proceeds will be used for development of the Kiniero Gold Project, financing costs, corporate costs and working capital, including to partially cover the costs of the offer.

"This operation is a crucial milestone for Robex Resources Inc ( RSRBF ) and for the development of the Kiniero Gold Project," said Chief Executive Officer Matthew Wilcox. "We have received conditional approval from the ASX and are actively working to meet the listing conditions. We look forward to commencing trading of our CDIs on the ASX and continuing to progress towards production on budget and schedule."

Robex Resources ( RSRBF ) shares were last seen up $0.03 to $3.30 on the TSX Venture Exchange.

Price: 3.30, Change: +0.03, Percent Change: +0.92