aldwickk
- 15 Sep 2005 18:14
aldwickk
- 25 Jan 2007 07:38
- 61 of 100
ZincOx Resources plc 25 January 2007
('ZincOx' or 'the Company')(AIM:ZOX)
US$9 million received as the first instalment of the Shaimerden deferred
payments
ZincOx Resources plc has received US$9,042,776 from JSC Kazzinc (Kazzinc), being
the first tranche of the deferred payment due under the 2003 sale agreement for
the Shaimerden zinc deposit, in Kazakhstan (the Agreement)
Commenting on the announcement, Andrew Woollett, ZincOx's chairman, said 'This
payment is the first of five payments which we expect to increase substantially
over the next couple of years and will continue beyond the point at which we
plan to have our own operations in production'.
Under the Agreement the deferred payments are being made in respect of the first
200,000 tonnes of zinc mined from the deposit, at the rate of US$0.2375 per
tonne for every dollar that the price of zinc is above US$800 per tonne. The
zinc price is based on the average daily LME price for the period and payment
for the year is before the end of January of the following year.
While production commenced at Shaimerden on 17 September, the 2006 payment is
based on a deemed minimum annual production of 40,000 tonnes. This is reduced
pro rata for the period 17 September to the year end and therefore amounts to
11,616 tonnes. The zinc price from 17 September 2006 through to the end of that
year was an average of US$4,077 and hence the amount received by the Company was
US$9,042,776. In addition to a minimum rate of production there is a maximum
rate equivalent to 60,000 tonnes per annum.
Independent consulting mining engineers, Orelogy Pty Ltd, have carried out a
review of Kazzinc's mine plan for Shaimerden. Orelogy have confirmed that the
mine plan is reasonable and achievable and that mining of 200,000 tonnes of zinc
should actually be achieved by September 2007. ZincOx can, therefore, expect the
deferred payments to be based on the deemed maximum rate of production, 60,000
tonnes of zinc per annum, for 2007, 2008 and 2009 and the balance of 8,384
tonnes for 2010.
For more information please contact:
ZincOx Resources plc
Simon Hall +44 (0) 1276 450100
shall@zincox.com
www.zincox.com
Aldwickk.
aldwickk
- 20 Feb 2007 11:28
- 62 of 100
ZincOx Resources PLC
20 February 2007
New US Recycling project and expansion at Big River Zinc - 20 February 2007
ZincOx Resources plc (ZOX), is pleased to announce the completion of
pre-feasibility studies on an integrated zinc and iron recycling project which
will include a new facility in Ohio and modifying and refurbishing the Big River
Zinc plant near St Louis.
Using a zinc price of US$1,900 per tonne for the next five years and US$1,500
thereafter the Ohio Project and Big River Zinc Project individually have
internal rates of return of 20% and 35%, and have, net present values of
US$60million and US$129million respectively (post tax, pre finance 10% discount
rate).
Commenting on the announcement, Andrew Woollett, ZincOx's Chairman said 'These
two projects, together with our new Turkish Project, complete the operating
structure for our first fully integrated zinc, lead and iron recycling concept.
This structure will enable us to recycle virtually all the valuable metals found
in electric arc furnace dust (EAFD), a problematic waste material produced when
galvanised steel is recycled. This structure and the proprietary technology
involved represents a blueprint that we intend to repeat elsewhere in the
world'.
At the Ohio Project a rotary hearth furnace will be used to treat EAFD to
recover zinc and lead in an oxide concentrate (HZO) and to recover the contained
iron as a Direct Reduced Iron (DRI) product. The DRI will be melted in a small
electric furnace that will produce a very clean slag suitable for construction
purposes and pig iron which will be sold to the steel industry. The plant will
be designed to treat 200,000 tonnes per annum of EAFD for the production of
48,000 tonnes of zinc contained in HZO and about 50,000 tonnes of pig iron. The
HZO will be sent to Big River Zinc for the recovery of the valuable metals. The
Ohio plant will take approximately 18 months to construct at a capital cost of
about US$107million.
In June 2006, ZincOx acquired the Big River Zinc smelter, in Sauget, Illinois
(BRZ). The HZO from both the Ohio Project and from the Aliaga project in Turkey
will be processed at BRZ. The zinc contained in the HZO will be dissolved in
BRZ's refurbished leach plant. The resultant zinc bearing solution will be
purified in a new solvent extraction circuit, prior to conventional zinc
recovery using BRZ's existing electrowinning, melting and casting equipment to
produce zinc ingots. The ZincOx management team used the solvent extraction
process in the design of the flowsheet for the Skorpion zinc oxide deposit in
Namibia, where it now accounts for 150,000 tonnes of zinc metal production per
annum. Big River will be designed to produce 90,000 tonnes of Special High Grade
quality zinc metal per annum. The refurbishment of the Big River plant and
installation of solvent extraction will take approximately 16 months at a cost
of about US$90million.
At Aliaga, in Turkey, (see announcement dated: 12 December 2006) ZincOx is
planning to develop an EAFD processing plant similar to that proposed for the
Ohio project. The capital cost of the Aliaga project is expected to be
US$106million with production commencing in mid 2008.
The development of the plants in Turkey and Ohio and the refurbishment of the
Big River Zinc facility are expected to require total capital expenditures of
about US$303million, including contingencies. The company is investigating
various financing strategies including participation by one of ZincOx's largest
shareholders, Teck Cominco. In December 2006, Teck Cominco, the world's second
largest zinc mining company, increased its interest in ZincOx by 3.5% to 11.5%.
Commenting on the financing, Andrew Woollett said 'There are a number of
attractive financing options available to us, including the early sale of the
future Shaimerden deferred payments, and we are optimistic that we will be able
to develop these projects without a major issue of new equity.'
unluckyboy
- 06 Jul 2007 11:05
- 63 of 100
anyone still holding zincox.?Is there more to come.?(ie shares going up)
aldwickk
- 02 Aug 2007 08:17
- 64 of 100
LONDON (Thomson Financial) - ZincOx Resources PLC said the Yemen parliament has approved the contract for development of Jabali zinc mine located 100 kilometres north east of the capital city, Sana'a.
The zinc oxide mineral exploration company said it expects the capital cost of about 176 mln usd for developing the project.
The company said the deposit is expected to be mined at the rate of 800,000 tonnes per annum of ore for the production of about 70,000 tonnes per annum of high quality zinc oxide. Production is scheduled to begin in the middle of 2009, it added.
ZincOx said it is in advanced stage discussions with London-based investment banking boutique, Exotix Ltd for a financing facility.
The contract is an agreement between the Ministry of Oil and Minerals, representing the Government of Yemen, and Jabal Salab Co (Yemen) Ltd, in which ZincOx holds a 52 pct stake with the remaining 48 pct stake being held by Ansan Wikfs (Yemen) Ltd, the company said.
Andy
- 18 Mar 2008 15:36
- 65 of 100
new article, time for a rebound?
Click
HERE
aldwickk
- 18 Mar 2008 20:44
- 66 of 100
Andy, I sold the last of mine at 236 a few weeks ago, also sold GFM, and topped up my main core holdings AFR and CEY.
hlyeo98
- 11 Sep 2008 19:08
- 67 of 100
kate bates
- 28 Jan 2009 13:30
- 68 of 100
All a bit quiet but still holding from over 140p, I see though acc advfn they've received payment today for Shaimerden
link:
http://www.proactiveinvestors.co.uk/companies/news/4177/zincox-resources-confirms-receipt-of-us157-million-from-sale-of-shaimerden-deposit--4177.html
"
Following the receipt of the Shaimerden payment, expected before the end of this month, ZincOx will have almost US$92.5 million in cash. The Company is therefore in a remarkably strong position compared to many of its peers in the junior mining sector and is well equipped to ride out the current very challenging economic environment.
"
Market cap 21 million smacks of a serious undervaluation here. Well overlooked this company.
kate bates
- 30 Jan 2009 15:25
- 69 of 100
flying today and what a chart, around 135p of cash on the balance sheet after recent royalty payment plus quite a few assets! 135p being bought for 43p as we speak!!!
mitzy
- 31 Jan 2009 08:16
- 70 of 100
I like the look of the chart a nice rounded bottom worth buying for that alone..back to 60p imo.
steveo
- 01 Feb 2009 21:02
- 71 of 100
Does look good.
kate bates
- 02 Feb 2009 08:08
- 72 of 100
some superb comment on the advfn thread, this looks like an undiscovered gem which seems to be re-rated at long last as it's not really a miner as such. The nav must be around 140p all for 41p a share!! Take a trip over to advfn and you'll see what I mean. proactive investor site has some great info also.
kate bates
- 02 Feb 2009 08:59
- 73 of 100
flying now, think 140p is valuation just with cash, they also have a few years of royalty payments, looks a fantastic find, loading up here.
kate bates
- 03 Feb 2009 08:17
- 74 of 100
a load more cash reserved and added to the cash pile this morning after that rns. Looking good level2.
kate bates
- 03 Feb 2009 08:36
- 75 of 100
aghh! Penny dropped with a few this morning.
mitzy
- 03 Feb 2009 13:45
- 76 of 100
Looking great glad I'm in @39p.
halifax
- 23 Feb 2009 15:08
- 77 of 100
mitzy are you still in @ 39p?
mitzy
- 23 Feb 2009 15:18
- 78 of 100
hi halifax..no I sold the other week .
waiting for the next buy signal...
halifax
- 15 Apr 2009 16:07
- 79 of 100
mitzy do we have a buy signal?
mitzy
- 15 Apr 2009 16:55
- 80 of 100
Yes I think we do halifax.