buddhabelly2
11 years ago
Robex Resources Inc. ("Robex" or the "Corporation") (TSX
VENTURE:RBX)(FRANKFURT:RB4) is pleased to announce that the Board has elected
Mr. Georges Cohen as Chairman, following its annual shareholder meeting which
took place on June 18. Mr. Cohen retains also the position of President & CEO,
as announced in the press release dated May 9, 2013.
The presence of Mr. Cohen as President and Chief Executive Officer and Chairman
will be a major asset for the Corporation because of his qualities as seasoned
manager and his vast experience. Mr. Cohen began his career in the Cap Gemini
Group where he held several positions including Commercial Engineer, Sales
Director, Managing Director and President and Chief Executive Officer of a major
subsidiary of the Cap Gemini Group. In 1990, Mr. Cohen left Cap Gemini and
founded Transiciel (SSII) where he became the President and Chief Executive
Officer founder. In 2000, Transiciel became public and, in 2001, Transiciel was
granted the "Trophee de la decennie de la meilleure entreprise" by the firm
Bain. The selection was made over a total of 278,916 companies based on growth,
profitability and sales revenue criteria. In 2003, Transiciel merged with Sogeti
in Cap Gemini. Member of the executive committee of the Cap Gemini Group and
President and Chief Executive Officer of the new Sogeti-Transiciel set (more
than 20,000 employees), Mr. Cohen supervised this merger during 2 years and a
half and eventually left the group to engage in personal activities of private
equity.
All directors were reelected at the Shareholders Annual meeting on June 18.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Augustin Rousselet
Interim Chief Financial Officer
418-527-5023
info@robexgold.com
buddhabelly2
11 years ago
Robex Resources Inc. ("Robex" or the "Corporation")(TSX
VENTURE:RBX)(FRANKFURT:RB4) announces that the Autorite des marches financiers
and the British Columbia Securities Commission have granted to Robex a full
revocation of their cease trade orders on the securities of Robex following the
filing of the audited annual financial statements, Chief Executive Officer and
Chief Financial Officer certifications under Regulation 52-109 respecting
Certification of Disclosure in Issuers' Annual and Interim Filings and
management discussion and analysis for the year ended December 31, 2012 of Robex
(collectively, the "Annual Disclosure Documents"). The Corporation has been
advised by the TSX Venture Exchange that its common shares will be reinstated
for trading effective on the opening of market on May 27, 2013. The reason for
the issuance of the cease trade orders and trading suspension was the late
filing of the Annual Disclosure Documents.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Augustin Rousselet
Interim Chief Financial Officer
418-527-5023
info@robexgold.com
buddhabelly2
11 years ago
Robex Resources Inc. ("Robex" or the "Corporation") (TSX
VENTURE:RBX)(FRANKFURT:RB4) announces that it filed, on May 10, 2013, its
audited annual financial statements, Chief Executive Officer and Chief Financial
Officer certifications under Regulation 52-109 respecting Certification of
Disclosure in Issuers' Annual and Interim Filings and management discussion and
analysis for the year ended December 31, 2012 (collectively, the "Annual
Disclosure Documents"). Robex will request the revocation of the cease trade
orders on the securities of Robex issued by the Autorite des marches financiers
and the British Columbia Securities Commission to allow the trading of the
securities of Robex to be reinstated as soon as possible. The Annual Disclosure
Documents are available on the SEDAR website at www.sedar.com.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Augustin Rousselet
Interim Chief Financial Officer
418-527-5023
info@robexgold.com
buddhabelly2
12 years ago
Robex confirms that there are currently 6,080 samples from drilling campaigns of 2012 left to analyze. Indeed,
the ALS laboratory in which Robex confides their analysis had to close for a few
months due to a work conflict that has just been settled. The activities have
started up again but the accumulated delays must now be caught up. Moreover,
Robex is currently setting up its own laboratory. It should be in operation
within the coming weeks.
Of the 6,080 samples, 3,833 are from the southern extension and 2,247 from the
eastern extension of the Nampala deposit. The 43 holes drilled in the East have
narrowed the mesh from 200mx100m to 100mx100m.
South Extension
In the south zone, the drillings have strengthened the mesh from 100mx100m to
50mx50m. The results of this campaign, which ended in October 2012, will allow
Robex to recalculate the southern extension in order to pass, if possible, from
"Inferred" resources to "Measured / Indicated."
As a reminder, in the southern extension, the results going up to 12.30 g / t,
revealed among others, assays of 1.32 g / t over 45 meters, including 10 meters
at 3.32 g / t (see press release dated July 23, 2012) and had permitted to add
261,000 ounces to the "Inferred" category during the last calculation of
resources (see press release dated September 11, 2012).
East Extension
Finally, regarding the East Zone, the results obtained in the 2005 campaign of
22 drill holes are already very encouraging (see press release dated March 5,
2012). Grades of 0.78 g / t over 64 meters including 5 meters at 2.24 g / t, 61
meters at 1.01 g / t, 61 meters at 0.74 g / t and 107 meters at 0.60g/t, make us
very confident in the results of 2012. It is worth mentioning that none of the
results of the eastern extension of the Nampala deposit have yet been taken into
account in the calculation of resources.
We are looking forward to receive the results of the samples that are still
pending and we are confident that these should increase the quantity and quality
of the resource," says Andre Gagne, President and CEO.
Inauguration of the Robex laboratory in Nampala
The Robex laboratory, located in Nampala, is in the final installation phase.
Andre Drouin, Chief Metallurgist and laboratory manager, is currently working on
finalizing the commissioning of all the equipments needed for sample analysis.
Also on-site is a technical representative of the Perkin Elmer firm for the
calibration of the atomic absorption spectrometer, the main equipment for
analysis of the contents. The first analyzes will be initiated next week. Of
course, Robex will double check its analysis by certified laboratories, in its
quality control program.
Delivery of the diamond drill and start of the drilling campaign at Wili-Wili
The drill acquired by Robex in February is currently on board the Great Morocco
Voy ship and will arrive at the Dakar port around March 26th 2013. The campaign
planned on our Wili-Wili property shall begin as scheduled in April and last
until the beginning of the rainy season in July. The Wili-Wili camp has been
upgraded, a drinking water well has been drilled and is functional, access and
marking in anticipation of drilling are also all completed.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor relations
Andre Gagne, President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11
www.robexgold.com
buddhabelly2
12 years ago
Robex Resources Inc. (TSX VENTURE:RBX)(FRANKFURT:RB4) (the "Company") is pleased
to announce that it has concluded a financing agreement of $ 14.8 million. This
funding will allow the construction of a gold-producing plant on the Nampala
site.
Equity financing
The first component involves a European group, (the "Cohen Family"), which is
investing $8,000,000. In consideration, the Company issued 80,000,000 units of
the Company (the "Units") at a price of $ 0.10 per unit for gross proceeds of $
8,000,000. Each unit consists of one common share of the Company (a "Common
Share") and one warrant to purchase shares of the Company (a "Warrant"). Each
warrant entitles the holder thereof the right to acquire, at any time before
October 29, 2017, one additional common share of the Company at a price of $
0.25. The common shares and warrants included in the Units, along with the
common shares underlying the warrants, are subject to a hold period of four
months plus one day. Following the closing, the Cohen Family will hold a stake
representing 30.9% of the Company. On this basis, the TSX Venture Exchange
considers that the placement of Units from the Cohen Family results in the
emergence of a dominant shareholder, which is why a part of the investment, 68
million Units ($6,800,000), will be escrowed until the approval of the
shareholders of the Company. The Company has scheduled a special meeting of
shareholders to be held on December 18, 2012. This investment will be used for
the construction of the gold-producing plant on the Nampala site and for working
capital. This financing is subject to final approval of the TSX Venture
Exchange.
Debt financing
The second component involves an agreement of $6,815,934, between Robex and
Imagri Inc. ("Imagri"), the main contractor in charge of constructing the mine.
Under the terms of this agreement, an amount of $ 1,000,334 is payable upon
signing of the contract. This invoice is issued in order to proceed with the
installation of the construction site and the purchase of various equipment. To
minimize the burden on the Company, Imagri has agreed to convert its debt into
shares of the Company. Thus, this debt was converted immediately into 8,000,000
shares, subject to the approval of the TSX-V. These shares are also subject to a
hold period of four months plus one day. The balance of $ 5,815,600 will be
repayable over 36 equal monthly payments at 10% annual interest, starting 1
February 1, 2013. This contract is for the earth work, concrete, structural,
piping and mechanical installation.
"It is with great enthusiasm that I decided to commit IMAGRI to undertake this
mining project. Our teams, the quality of their work and services, have the
ambition to liberate the potential of this beautiful site and make it an
achievement in its class, "said Mathias Thibieroz CEO of IMAGRI.
Andre Gagne, President and CEO, said: " Since receiving the final operating
licence from the Malian government in April 2012, the Robex team has hired key
personnel and worked tirelessly on the technical planning of the mine. It has
also collaborated with a number of finance providers in order to secure
necessary funding to get the project up and running. However, the political
situation in Mali has rendered the latter task extremely difficult, with banks
reluctant to extend project financing in the current environment. As such, Robex
believes that the securing of this $14,800,000 financing package is an important
milestone in the Company's development, as it marks the first stage of the
implementation of the Bank Feasibility Study ("BFS"). 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 organic cash flows,
until the threshold of 6,000 t/d as envisioned in the BFS (approx. 50,000 oz Au
per annum) is reached quickly. The expansions are planned as soon as the
construction of the first phase is completed. If this were required, we believe
that being in production would open up access to debt financing required for
expansions. In addition, the possible exercise of warrants issued in this
financing is specifically designed to address those expansions. This would allow
Robex to accelerate further its planned production up to a threshold of around
13,000 t/d. We are very pleased to have found a long term partner of the calibre
of the Cohen Family, and its support provides a major boost for the Company and
its shareholders, enabling Robex to move from being an explorer to a producer of
gold in Mali. We are also very proud to partner with Imagri, with its extensive
experience in mine construction. Construction of the mine will begin on November
1, 2012. The completion of construction and commencement of gold production is
expected in the third quarter of 2013"
A representative of the Cohen Family said: "We conducted extensive due diligence
in Mali, including a visit at Nampala, and at Robex's head office in Quebec
City. These gave us all the satisfaction necessary in order to make the
investments required for the construction of the plant. It is with great
enthusiasm and great hope of success that we want to support Robex in its
current and future development."
About Imagri: IMAGRI is one of the leading companies in West Africa in the metal
construction field, mechanical engineering and industrial services to the mines.
With means of unique production in the region, a civil engineering department
and a consulting dedicated firm, Imagri realizes complete projects from the
design to the installation on site in the mining and industrial sectors.
www.robexgold.com
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations / information
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11
buddhabelly2
12 years ago
Robex confirms that the drilling campaign carried out in the southern extension of the Nampala site,
on the Mininko permit, are now completed and the results of the last nine holes
are once again encouraging. These results have shown grades up to 12.30 g/t over
one meter. The first set of results from this campaign included 32 drill holes
with up to 1.32 g/t over 45 meters, including 10 meters at 3.32 g/t (see press
release dated July 23, 2012).
The 2012 campaign total 12,000 meters and has as an objective to improve the
quality of the resource in the southern part and investigate the Eastern zone
parallel to Nampala. Moreover some of the drillings on the tailing and stockpile
residue site have been completed.
Following the assay results, a new south zone resource calculation including
this new data is currently underway .Also it was possible to confirm that the
area defined for the tailing and stockpile was indeed sterile. As for drillings
of the eastern extension, the results will be available in the first quarter of
2013.
Concerning the southern extension, 33 holes camping totaling 2819 meters was
made in 2011, with a pattern of 200 x 100 meters, it revealed an additional
presumed resource of 261,000 ounces at a grade of 0.74 g/t. In the current
campaign, the infill drilling was tightened to 100 x 100 meters in the
mineralized section, and 100 x 50 meters in the area adjacent to the pit.
Here is a compilation of the best results from the last 9 holes (full results on
www.robexgold.com):
----------------------------------------------------------------------------
DDH Number Average
Grading
Interval Lenght (m) True width (g/t)
------------------------
From To
(m) (m)
----------------------------------------------------------------------------
Mn2012ac094 42 47 5 3.8 0.71
----------------------------------------------------------------------------
55 63 8 6.1 0.68
----------------------------------------------------------------------------
Mn2012ac095 4 32 28 21.4 1.03
----------------------------------------------------------------------------
including 12 26 14 10.7 1.79
----------------------------------------------------------------------------
Mn2012ac096 3 48 45 34.5 0.58
----------------------------------------------------------------------------
including 3 29 25 19.2 0.84
------------------------------------------------------------
Including 46 48 2 1.5 1.31
----------------------------------------------------------------------------
Mn2012ac098 45 67 22 16.9 0.47
----------------------------------------------------------------------------
including 45 49 4 3.1 0.96
------------------------------------------------------------
including 63 67 4 3.1 1.08
----------------------------------------------------------------------------
Mn2012ac099 46 76 30 23.0 1.11
----------------------------------------------------------------------------
including 46 57 11 8.4 1.43
------------------------------------------------------------
including 60 76 16 12.3 1.11
----------------------------------------------------------------------------
Mn2012ac100 16 24 8 6.1 0.87
------------------------------------------------------------
50 52 2 1.5 1.75
----------------------------------------------------------------------------
Mn2012ac103 36 40 4 3.1 1.46
----------------------------------------------------------------------------
"The continuity and consistence of drill assay results on the Nampala project
adds confidence and strengthen further the Feasibility completed in the fall of
2011" said Andre Gagne, President and CEO.
The geological information of this release as well as the assay results have
been verified by Jacques Marchand, P.Eng. P.Geo, and an independent Qualified
Person.
Analyses results are from the Groupe de Laboratoire ALS Mali SARL, Koulouba
Sogonafing BP E2670, Bamako Mali' . Samples are analysed by Fire Assay on a 50g
pulp with a finish in ppm for gold.
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.
SPARK
13 years ago
Robex Resources Inc./Nampala: Complete Feasibility Study Report Available on SEDAR
Robex Resources Inc./Nampala: Complete Feasibility Study Report Available on SEDAR
QUEBEC CITY, QUEBEC--(Marketwire - Nov. 16, 2011) - Robex Resources inc. (TSX VENTURE:RBX)(FRANKFURT:RB4) announces that the French version of the complete feasibility study report is now available on SEDAR and on Robex web site. An English version will be available soon. This feasibility study, for which a summary of the results were published in the press release dated November 8, demonstrates the economic viability of an open pit mine, with pre-tax net present value (NPV) of $113.6 million, discounted at 5%, and an internal rate of return (IRR) of 46.45% at $1,250 gold price per ounce (base case).
It is important to note that although the feasibility study is based on an amount of gold ounces totalling 345,418, the most recent calculation of the resource, published in the press release dated September 20, 2011, shows that the Nampala deposit presently contains 713,065 ounces Measured Indicated and 815,872 ounces Inferred. This substantial increase in the resource, combined with the fact that a southern expansion of the deposit is possible, suggests even greater performance for the Nampala mining project.
Highlights of the feasibility study are as follows (all currency in US dollars):
•At $1,250 gold price per ounce (base case), pre-tax net present value (NPV) of $113.6 million, discounted at 5%, and an internal rate of return (IRR) of 46.45% (100% equity basis) and a two (2) year payback period;
•Using near-current spot price for gold of $1,600 per ounce, a pre-tax NPV of $207.6 million, at 5% discount rate, and IRR of 73.70%;
•Initial eight-year mine life at a mill throughput of 5,200 tonnes per day utilizing conventional open-pit mining and a limited crushing-grinding with CIL recovery of gold; after eight (8) years, depending on market conditions, two (2) more years of processing low-grade stockpiled ore;
•Production average of 39,327 ounces per year (recoverable gold) for the initial eight-year mine life;
•At $1,250 gold price per ounce (base case), total estimated earnings before interest, taxes, depreciation and amortization (EBITDA) of $206.3 million;
•Average cash operating cost of $585 per ounce for the initial eight-year mine life; ($640 average if low grade stockpile is processed in years 9 and 10);
•Estimated low start-up capital of $52.9 million (excludes Owners Costs);
•Average gold recovery rate of 88%;
•Low strip ratio of 0.55:1;
•Low rate of cyanide consumption;
•Proven and probable open-pit reserves of 17.3 million tonnes at 0.70 grams per tonne gold for a total of 392,520 ounces of gold (345,418 ounces of recoverable gold at 88% average recovery rate);
•Potential for future conversion of resources to reserves and further resource growth.
Robex owns 100% of the Nampala project, located on the Mininko permit in Mali. The feasibility study was prepared by a consortium of prominent internationally renowned mining industry consultants lead by the engineering consulting firm Bumigeme, assisted by engineering firm Met-Chem Canada (Met-Chem) and Mr. Jacques Marchand, independent engineer and qualified person (QP) for mineral resource estimation as defined by NI 43-101.
For more information about the Nampala deposit and to access the corporate presentation, please visit: www.robexgold.com
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Ask ADVFN Intelligence (AI)
Hot Features
Premium
