QUEBEC CITY, QUEBEC--(Marketwired - Jan 21, 2015) - Robex Resources Inc. ("Robex" and/or "the Company") (TSX VENTURE:RBX)(FRANKFURT:RB4) is pleased to announce that the work to restart the Nampala mine will be able to begin. As of now, equipment orders will be undertaken under the supervision of the independent engineering firm Soutex, with the support of the manufacturer, Imagri.
The elution system that posed difficulties will be replaced during the construction by an efficient system.
The conditions relating to the private placement and debt settlement announced on December 30, 2014 have been carried out.
The company, today, has issued 142,857,142 common shares of their capital stock at a price of $ 0.07 each in consideration of 10 million CAD. In addition, Robex has issued 126,486,885 common shares of their capital stock at a deemed price of $ 0.07 each to settle a debt including accrued interest for the amount of $ 8,854,082 CA (refer to the press release of December 30, 2014 for more details on these transactions). The shares issued are subject to a hold period of four months and a day.
Among the conditions, was included, in particular the security of the company's debt with their main suppliers, what has been done and what permits them to spread out the repayments starting when the Nampala mine is back in production.
It is expected that the mine production will resume with a daily processing volume of 4,000 tons/day initially and 6,000 tons/day as soon as possible; which is a very significant increase in production compared to last year's plan, which was 2,800 t/d.
George Cohen said, "I am delighted for Robex and for Mali that 2015 opens with such a positive outlook. »
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's 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, unfavourable 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
