QUEBEC CITY, QUEBEC--(Marketwired - March 21, 2017) - Robex Resources Inc. ("Robex" and/or "the Company") (TSX VENTURE:RBX)(FRANKFURT:RB4) is pleased to confirm that the start-up of the commercial production at the Nampala mine is proceeding normally. The staff is continuing their efforts to maintain the production rate and optimize the recovery rate.
2017 Production Data
During the months of January and February 2017, the Nampala mine continued to progress, despite a three-day production shutdown in February (a piece could not be repaired on site). The following table summarizes the production data:
* The three-day shutdown alone corresponds to 12% of the monthly availability (28 days in February).
The hourly production as well as the recovery therefore increases satisfactorily.
During the months of January and February 2017, the Company sold gold for a total of 172.2 kg, representing 5,535 ounces.
In the short term, the Company's strategy is to optimize the overall performance of the mine by implementing a rigorous preventive maintenance plan, including an increase in inventories of spare parts, in order to limit unplanned shutdowns like the one in February. It is also planned to introduce production and cost management follow-ups using the information systems already in place to maximize the financial performance of all operations.
During the Company's board of directors meeting, it was decided to launch priority operations in order to support the company's overall strategy for the short, medium and long term development. The deployment of this strategy, outlined below, is now possible since the Nampala mine has been in production.
The Company has reached an agreement with external experts in the geology and metallurgy field in order to carry out a reconciliation of the geological and metallurgical model by analyzing the data collected during the fiscal year 2016. This work will be carried out by the firm SOUTEX for the metallurgical portion and by the company INNOVEXPLO for the geological portion.
In addition, INNOVEXPLO will be mandated to set up the exploration program on the Mininko and Kamasso proprieties, with the objective of increasing the resources and reserves with the potential to be put into value by the Nampala mine.
The French company TRIAGOZ FINANCE has been mandated to establish a medium- and long-term financial strategy. The objective of this task is to propose an optimal deleveraging plan and exploration efforts, allowing to increase the value of the company, and to be able to integrate potential external growth projects.
The production data presented was validated by Antoine Berton ing, Ph.D., Soutex metallurgist, a metallurgy and ore processing consulting firm at the Nampala site.
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.