Nov 18 2016
The Company Robex Resources Inc. ("Robex" and/or "the Company") (TSX VENTURE:RBX)(FRANKFURT:RB4) is pleased to announce that the preproduction at the Nampala mine is progressing faster than expected. In fact, during the month of October, the mine processed 105,000 tonnes of ore, that being 115% of the October target and 85% of the target of 4,000 tonnes per day (tpd).
October's pre-production represents an increase of 42% compared to the previous month. Moreover, the data already collected in November (November 1 to 15, 2016 inclusively) shows that the pre-production continues to grow, with 56,000 tonnes of ore processed during this period. This suggests a pre-production for the month of November superior to that of October.
Georges Cohen, CEO of Robex, said: "We are well on track to reach the target of 4,000 tonnes per day by the beginning of 2017".
Adjustments on certain control and power systems will soon allow us to increase the availability rate and thus increase the daily tonnage. In addition, the company will set up a chemical analysis laboratory (fire assay) on site in partnership with a reputable international laboratory. This laboratory will optimize the operations at the mine on the one hand, and support the future exploration program on the other hand.
Acquisition of a second ball mill
At the time of the purchase of the current 750 kW ball mill at the Nampala mine, the company had obtained the option to purchase a second identical ball mill. Robex has exercised their purchase option and the ball mill will soon be sent to the mine. This ball mill will eventually increase the production of the mine in the future.
Gold Sales
Over the past three months (August 15 to November 14, 2016), the Company sold 151.4 kg of gold, equivalent to 4,869 ounces. The recent pre-production results at the mine suggest that the quantities of gold produced will be higher in the upcoming weeks.
Bank loan
Due to pre-production results at the mine supported by high-growth gold sales, the Nampala mine obtained a bank loan from a reputable bank in the amount of CA$ 4,376,000 ($ 2 billion CFA francs). This loan, which is repayable over the medium term, will enable the company, among other things, to repay older debts with higher interest rates.
Nomination
Robex announces the appointment of Ms. Véronique Maltais, CPA Auditor, CA, as Assistant Controller and Corporate Secretary. Ms. Maltais will be under the supervision of the company's Controller and will bring her expertise to support Robex's head office as well as their subsidiaries abroad.
Source: http://robexgold.com/