QUEBEC CITY, QUEBEC--(Marketwired - April 3, 2014) - Robex Resources Inc. (TSX VENTURE:RBX)(FRANKFURT:RB4) ("Robex" or "the Company") is pleased to announce the completion of construction of phase 1 of the plant, that is to say for a processing capacity of 2,500 t/d. The bullion casting section will be completed in April.
The first start up tests and adjustments to operating equipment of the plant are underway. The first ore is expected to supply the plant as of the week of April 7th.
Robex plans, in the coming weeks, to complete operational adjustments on equipment. The gradual increase in the supply of ore in the plant is expected to achieve the goal of a minimum quantity of 2,500 t/d by the end of June.
Concerning the earthwork in the pit, the next two months will require a significant stripping of residue to expose a greater surface of the mineralization. The stockpile expected to supply the plant already exceeds 40,000 tons of ore. The objective is to prepare a sufficient reserve of ore to get through the next rainy season.
These additional activities and the addition of the foundations for future reservoirs and equipment for phase-2 (4,000 t/d), generated additional costs; furthermore the company plans to eventually add, earlier than planned, a grinding mill in the treatment circuit. As a result, the company is currently negotiating additional funding for a medium debt term.
George Cohen, CEO of Robex comments:
"I want to thank all our employees and contractors for their efforts and commitment to this wonderful project. It is thanks to a dedicated and efficient team that the Robex project in Nampala has been possible in record time and with an investment budget inferior to the usual practice of the sector."
Also Robex continues the execution of their roadmap as presented at the last shareholders meeting. The emphasis is based on the implementation of tools of modern and efficient management, organization of work and all in full compliance with the Mali Mining Code.
The company continues to work closely with the local community. Robex is now a real driving force in the development of the Sikasso Area. The company is working with local authorities in the context of the ethical mission that Robex had established to ensure a positive impact on the surrounding population.
Robex's exploration campaign is still on going. In fact, on the Moussala permit, 2,500 m were drilled out of a campaign of 4,000 meters. In Nampala, drillings in the eastern area are still on-going.
A video documenting the completed project facilities will soon be available on the company's website.
A Twitter account has been set up to allow a direct exchange between the CEO and shareholders on a regular basis. More information about the date and time of this exchange will be announced in the coming days.
Meanwhile, it is now possible to follow Robex on the following social networks: Twitter, Linkedin and Viadeo. Official news and media (photos and videos) new will be published frequently on these social networks.
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, 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.
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.
Contact Information:
Chief Financial Officer
+1.581.741-7421
info@robexgold.com