ZOX Zincox Res.

TIDMZOX

RNS Number : 5753E

ZincOx Resources PLC

11 February 2015

11 February 2015

ZincOx Resources plc

("ZincOx" or the "Company")

Record Production at Korean Recycling Plant

The Company is pleased to announce that January 2015 was a record month for the performance of its wholly owned Korean Recycling Plant (KRP).

-- 16,414 tonnes electric arc furnace dust (EAFD) treated in January (92% of the nominal monthly capacity): a 10% increase on the previous record set in October 2014

   --    Zinc recovery for the month is about 90% (target 95%) 
   --    KRP: EBITDA US$650,000 (estimate based on current zinc price US$2,122 per tonne) 
   --    Continuous operation since 18 December 2014 

At the increased throughput the plant is working with good stability and high availability and with operating costs in line with long term targets.

A short stoppage is planned towards the end of February 2015 for the purposes of a routine quarterly maintenance.

Throughput in February 2015 is expected to be lower than January 2015 as a result of this suspension and also as a result of reduced EAFD generation by the steel mills. The Korean steel industry is currently operating at a slightly reduced capacity, with a proportional reduction in the generation of EAFD. KRP is arranging additional EAFD supply contracts which are expected to be in place by the end of March 2015.

For more information please contact:

 
 
                                              Tel: +44 (0) 127 645 
 ZincOx Resources plc                         0100 
 Andrew Woollett, Chief Executive Officer 
 
   Peel Hunt LLP (Nominated Adviser and       Tel: +44 (0) 207 418 
   Joint Broker)                              8900 
 Daniel Harris 
  Euan Brown 
 finnCap Limited (Joint Broker)             Tel: +44 (0) 207 220 
  Matthew Robinson                           0500 
  Joanna Weaving 
 Tavistock Communications (Financial PR)    Tel: +44 (0) 207 920 
  Simon Hudson                               3150 
  Nuala Gallagher 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCPKKDNFBKDOBD

Zincox (LSE:ZOX)
Historical Stock Chart
From Jun 2024 to Jul 2024

Zincox (LSE:ZOX)
Historical Stock Chart
From Jul 2023 to Jul 2024