2012-12-06 14:21:25 -
QUEBEC CITY, QUEBEC -- (Marketwire) -- 12/06/12 -- Robex Resources Inc. (TSX VENTURE:RBX)(FRANKFURT:RB4) is pleased to inform its shareholders that the construction of the mine on the Mininko permit in Nampala is going very well.
The mobilization process is currently underway and equipment is arriving on site every day. The construction of the concrete plant and warehouse, as well as the installation of concrete bases for the building of the sentry gate is progressing very well (see photos at www.robexgold.com). Also, the construction of the second base of life necessary for workers and managers is being started and the construction of the analytical laboratory is in the final stages. As of next week, the layout of the fence surrounding the site will be implemented and the stripping work of the plant site and access to the pit and tailings facility will be initiated.
In addition, Robex is proud to present the team in place in Nampala who are presently working hard on the advancement of the project:
Mr. Regis Desbiens, VP Mine, Mr. Andre Drouin, metallurgist, Mr. Francois Dupuis, Construction Manager, Richard Samson, topographer, Mr. Claude Pelletier, Director of Procurements, Mr. Jeffrey Doodnath, Overseas Procurement Officer and Ms. Jacinthe Turcotte, administrative Director. Will also be posted soon; Mr. Alain Gauthier, Superintendent of mining operations, Mr. Jean-Pierre Pelletier, Earth Works Supervisor and Mr. Yvan Garon, mechanical and civil structure construction supervisor.
Reminder on the Nampala mining project
The Company has decided to start gold production with a plant having a capacity of around 1,500 tonnes per day ("t/d") and increase this, sequentially, notably through internal cash flows, until the threshold of 6,000 t/d as envisioned in the BFS (approx. 50,000 oz Au per annum) is reached. The expansions are planned as soon as the construction of the first phase is completed. We believe that being in production should open up access to debt financing required for expansions if necessary. In addition, the possible exercise of warrants issued in this financing is specifically designed to address those expansions. Robex continues its exploration on Mininko (Nampala) with the objective to double its resources so as to potentially increase its production to about 13,000 t/d.
Grant of options
Robex Resources Board of Directors agreed to grant 2,000,000 options to its directors, and certain employees and consultants. The options are granted, under the Robex regime for granting shares, to acquire the shares at a price of 0.145$. The options have a term of five years and are subject to a hold period of four months from the date of the grant of the options.
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex Inc.'s ("Robex") control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex's management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.
The TSX Venture Exchange or its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts no liability for the authenticity or accuracy of this release.
President and CEO