QUEBEC CITY, QUEBEC--(Marketwired - Nov 10, 2014) - Robex Resources Inc. ("Robex" or the "Company") (TSX VENTURE:RBX) (FRANKFURT:RB4) informs the shareholders on the progress of their recovery plan and the situation in Mali.
Robex has decided to intensify their communication in order to continue their activity's transparency policy, the situation in Mali, and their recovery plan.
Robex's Board of Directors have approved the plan as it was presented to the shareholders in the open letter.
Robex appreciates the personal actions taken by some shareholders who wish to support the initiated action plan by subscribing.
Certain shareholders have already made concrete participation offers for initial funding and Robex wishes to thank them for their effective and concrete support.
In addition, contacts made with many suppliers offer some hope that second hand equipment may be acquired, which would reduce costs, but also most importantly, reduce delivery delays and, consequently, reduce delays for the restart of Nampala. Robex will pay very careful attention to the choice of materials by surrounding themselves with engineering firms and known metallurgists.
To reduce costs, the Nampala staff has been put on temporary technical lay-off and many expatriates have left the site while waiting for the restart, which everyone hopes will be soon.
The Malian government has sent a letter in which they renew their interest in Robex, the resumption of production activities at the Nampala deposit, and the continuation of the current valid permits (Diangounte, Mininko-Nampala Sanoula, Kolomba and N'Golopèné) in order to highlight their mining potential. Nonetheless, in the context of the current government policy towards mining permits, Robex will do its utmost to recover the Wili-Wili, Moussala and Kamasso permits that have expired. Because of the local knowledge, the work already done, and the importance of the operations that the Nampala Mine represents, management trust in the future relations with the Malian government as soon as the mine restarts.
Given the limited number of permits authorized per mining district and the cost of maintenance or renewal of permits, Robex, following their recovery, must undertake an arbitration while surrounding themselves with the best geological advice.
To this end, Robex's management wishes to complete their technical committee by relying on the advice of a leading expert in the world of geology including mineral exploration in West Africa.
Robex was able to make a new gold expedition from the content in the tanks with the current elution system and plans to continue to gradually extract all of the gold that has been produced so far.
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.
