Minews Story
Date: September 16, 2005

ZincOx Resources Poised To Swing Into Positive Cash Flow From More Than One Source In 2007

ZincOx Resources has worked away in the wings for some time, but the interim results reveal that it is soon to move centre stage. First production is scheduled for 2007, by the end of which Numis Securities, the companys brokers, forecast that the company could have three new projects up and running, producing some 27,000 tonnes of attributable zinc in various forms (eg zinc oxide). Production, say the brokers , could rise to over 100,000 tonnes in 2008 and further to 130,000 in 2009 from these projects.

Add to this the deferred payment from the Shaimarden zinc project in Kazakhstan which ZincOx sold to Kazzinc. Mine development is well underway and 500,000 cubic metres of waste material is being removed every month to make way for the open pit. The first ore should be mined in the middle of next year and the receipt of the first deferred payment should be made, as scheduled, in January 2007. At the current zinc price of US$1,350/tonne these deferred payments could amount to US$5.6 million per annum for a total payment of US$25.85 million payable over a four year period. A useful boost to cash flow and only 16 months away.

The price of zinc is clearly crucial to the future profitability of ZincOx and it is encouraging to see that Hurricane Katrina helped push zinc prices to five-month highs, as the heavy concentrationof LME zinc stocks in New Orleans has created uncertainty over availability of the metal. Warehouses in New Orleans, according to brokers Westhouse, hold 249,000 tonnes of zinc on LME warrant, which is almost half of total global LME zinc stocks of about 560,000 tonnes. Meanwhile, Australian investment bank Macquarie predicts that zinc could be in for a strong period over the next two years. It says it is becoming increasingly bullish on the price prospects for the metal should demand pick up, especially given the lack of new projects coming on line and despite a 30 per cent increase in zinc prices over the past 18 months.

The bank believes a zinc price of US$1,560/tonne by the end of 2006 is easily achievable and in this case the payment to ZincOx in January 2007 would be nearer US$6.5 million. While Macquarie sees the refined zinc market back in balance in 2007, its model is dependent on over 600,000 tonnes/year of as yet uncommitted mine projects coming on stream by 2007. The slow pace of development of projects at the moment suggests that this is very optimistic and it is easy to create scenarios in which the zinc market tightens up further in 2007, said the bank..

Deferred payments apart, ZincOxs objective is to become a major producer of zinc oxide with operating costs among the lowest in the world. The company has an international portfolio of projects which is made up of two recycling projects which should attract the attention of Green funds - the Aliaga Recycling Project in Turkey and the Mid West Recycling Project in the USA. In addition to this it has its Jabali deposit in Yemen. Aliaga is out in front and the result of its basic feasibility study should be announced in the coming weeks. Mid West is only about three months behind it. These two recycling projects will essentially have the same plant design and ZincOx is increasingly confident that it will be able to construct a global network plants which will follow the same blueprint and will be ready for development once these two come on stream..

The current state of play at Aliaga is that the application for environmental approval has been made , and the geotechnical ground survey work required for plant and landfill design completed. SNC Lavalin is working on the basic engineering and layout of the plant and ZincOx awaits the feasibility study. A site for the Mid West project has yet to be decided on and the company is looking for something close to infrastructure as well as a major landfill capable of taking the residue from the plant. Some suitably zoned industrial land has been offered but much will depend on the cost of effluent disposal. If this is within the companys parameters it will go ahead immediately, but it has decided to let the Turkish project always run three months ahead so that lessons learnt in Turkey can be implemented in the development in the USA.

Potential development of the Jabali zinc oxide mine in the Yemen draws closer following completion of the feasibility study earlier this year and permitting and the relevant approvals are being gained. Things do take a long time in Yemen, explains Andrew Woollett, not because the authorities are inefficient or corrupt, but simply because they have no experience of dealing with projects such as this as there has been no large scale mining project in the country for decades.

Following completion of the feasibility study ZincOx holds 60 per cent of Jabali along with Anglo American and a local partner and the project's development now looks much closer to reality. The next stage of work comprises the approval of the study by the environmental authorities and application for a mining lease. The approval of the Environmental Protection Agency has been received and this is the most important step relating to the permitting process for the projects development. Hopefully the Minister will approve the mining lease shortly and it will be ratified by Parliament thereafter as only then can talks with banks on project finance really begin. In the meantime the company has 5.6 million of cash in the kitty so is under no financial pressure.

250,000 delayed buy just gone through.

Minews Story
Date: September 16, 2005

ZincOx Resources Poised To Swing Into Positive Cash Flow From More Than One Source In 2007

ZincOx Resources has worked away in the wings for some time, but the interim results reveal that it is soon to move centre stage. First production is scheduled for 2007, by the end of which Numis Securities, the companys brokers, forecast that the company could have three new projects up and running, producing some 27,000 tonnes of attributable zinc in various forms (eg zinc oxide). Production, say the brokers , could rise to over 100,000 tonnes in 2008 and further to 130,000 in 2009 from these projects.

Add to this the deferred payment from the Shaimarden zinc project in Kazakhstan which ZincOx sold to Kazzinc. Mine development is well underway and 500,000 cubic metres of waste material is being removed every month to make way for the open pit. The first ore should be mined in the middle of next year and the receipt of the first deferred payment should be made, as scheduled, in January 2007. At the current zinc price of US$1,350/tonne these deferred payments could amount to US$5.6 million per annum for a total payment of US$25.85 million payable over a four year period. A useful boost to cash flow and only 16 months away.

The price of zinc is clearly crucial to the future profitability of ZincOx and it is encouraging to see that Hurricane Katrina helped push zinc prices to five-month highs, as the heavy concentrationof LME zinc stocks in New Orleans has created uncertainty over availability of the metal. Warehouses in New Orleans, according to brokers Westhouse, hold 249,000 tonnes of zinc on LME warrant, which is almost half of total global LME zinc stocks of about 560,000 tonnes. Meanwhile, Australian investment bank Macquarie predicts that zinc could be in for a strong period over the next two years. It says it is becoming increasingly bullish on the price prospects for the metal should demand pick up, especially given the lack of new projects coming on line and despite a 30 per cent increase in zinc prices over the past 18 months.

The bank believes a zinc price of US$1,560/tonne by the end of 2006 is easily achievable and in this case the payment to ZincOx in January 2007 would be nearer US$6.5 million. While Macquarie sees the refined zinc market back in balance in 2007, its model is dependent on over 600,000 tonnes/year of as yet uncommitted mine projects coming on stream by 2007. The slow pace of development of projects at the moment suggests that this is very optimistic and it is easy to create scenarios in which the zinc market tightens up further in 2007, said the bank..

Deferred payments apart, ZincOxs objective is to become a major producer of zinc oxide with operating costs among the lowest in the world. The company has an international portfolio of projects which is made up of two recycling projects which should attract the attention of Green funds - the Aliaga Recycling Project in Turkey and the Mid West Recycling Project in the USA. In addition to this it has its Jabali deposit in Yemen. Aliaga is out in front and the result of its basic feasibility study should be announced in the coming weeks. Mid West is only about three months behind it. These two recycling projects will essentially have the same plant design and ZincOx is increasingly confident that it will be able to construct a global network plants which will follow the same blueprint and will be ready for development once these two come on stream..

The current state of play at Aliaga is that the application for environmental approval has been made , and the geotechnical ground survey work required for plant and landfill design completed. SNC Lavalin is working on the basic engineering and layout of the plant and ZincOx awaits the feasibility study. A site for the Mid West project has yet to be decided on and the company is looking for something close to infrastructure as well as a major landfill capable of taking the residue from the plant. Some suitably zoned industrial land has been offered but much will depend on the cost of effluent disposal. If this is within the companys parameters it will go ahead immediately, but it has decided to let the Turkish project always run three months ahead so that lessons learnt in Turkey can be implemented in the development in the USA.

Potential development of the Jabali zinc oxide mine in the Yemen draws closer following completion of the feasibility study earlier this year and permitting and the relevant approvals are being gained. Things do take a long time in Yemen, explains Andrew Woollett, not because the authorities are inefficient or corrupt, but simply because they have no experience of dealing with projects such as this as there has been no large scale mining project in the country for decades.

Following completion of the feasibility study ZincOx holds 60 per cent of Jabali along with Anglo American and a local partner and the project's development now looks much closer to reality. The next stage of work comprises the approval of the study by the environmental authorities and application for a mining lease. The approval of the Environmental Protection Agency has been received and this is the most important step relating to the permitting process for the projects development. Hopefully the Minister will approve the mining lease shortly and it will be ratified by Parliament thereafter as only then can talks with banks on project finance really begin. In the meantime the company has 5.6 million of cash in the kitty so is under no financial pressure.

ZincOx Resources PLC
07 October 2005


ZincOx Resources plc ('the Company')

The Company was informed on 5 October 2005 that Hoegh Capital Partners
Investments Limited ('HCPI') and Limpopo Investments Limited ('LIL') no longer
hold a notifiable interest in the issued share capital of the company, after
HCPI redistributed its shares in the Company to its shareholders/LIL accounts.
The shares, which are held in the name of J P Morgan (Suisse) SA UK custodian,
have not changed in number, and the holdings are now as follows:


Legal Entity Holding Percentage Held

HCPI 0 0
LIL 773,637 2.67%
Argon Investments Limited 441,438 1.52%
Pomor Holdings Limited 441,438 1.52%
Goran Enterprises Limited 441,438 1.52%




This information is provided by RNS
The company news service from the London Stock Exchange

Amities . / Slt Aldo. What with zinc like both nickel and copper and a vast host of base metals reaching prices akin to the "bull run" of before i was trading ; and with sentiment now still very bullish on these commodoties i took an opening gambit at 117p and @ 137 .Very very early days; but from a technical analytical point of view the chart yelled from the page it was a " STRONG BUY" at 135p . Zinc supply has sank to its nadir while demand has reached an unsustainable level .Only new zinc deposits being brought on stream will rectify this situation . And ZOX has looked an ideal candidate these past few months; and in doing so has attracted some impressive investors including a number of both institutions and hi value clients alike . . Armed with in excess of 5 million is not an unacceptable position for a mining outfit either ...... Perhaps there maybe a catalogue of more dynamic mining stock to be had; but i feel this is a steady ship captained by a patient proven , robust and aggresive board . ......l prefer CSM and a few other similar mining outfits which have broader agendas.But i have no doubt the market for zinc will remain strong in the forseeable future; and like all soon to be new producers of zinc which is extremely hard to recycle ZOX will share in that growth ........@+ J .

NUMIS upbeat on miners, with a upgrade from add to buy for ZOX [ ZincOx Resouces ]

In a note on UK mining the broker has upgraded its rating for Antofagasta to buy from hold, raising target price to 18.15 from 16.14, raising estimates, upgraded its rating for Rio Tinto to buy from add, raising target price to 27.58 from 23.26, raising estimates, upgrades its rating for Xstrata to buy from add, raising target price to 17.69 from 15.80, upgrades its rating for Peter Hambro Mining to buy from add, raising target price to 052p from 876p, raising estimates, upgrades its rating for ZincOx Resources to buy from add, downgraded its rating for Albidon to add from buy, downgrades its rating for Jubilee Platinum to hold from add, downgrades its rating for Highland Gold to sell from reduce, raising target price to 156p from 154p and cuts its price target for BHP Billiton to 941p from 954p, raising estimates.

ZOX up 8p at 153 bid 160 offer, thats up 5.39% today.

Anyone any views on how the prospects for ZOX differ from GFM? ZOX' sp just seems to be having the better run.

Sharesure,

ZOX is a good long term bet with a low risk grade of about 187, have you read post 14 to 18 from The French connection? apart from them both gaining from a high Zinc price you can't compare them.

ZOX as done alright these last few days 4p up on the bid today, 157 to 162.

ZincOx Resources PLC
14 October 2005

ZincOx Resources plc ('the Company')



The Company was notified on 13 October 2005 that INVESCO English and
International Trust plc is the beneficial owner of 1,421,300 Ordinary Shares of
25p each in the Company, registered in the name of Chase Nominees Limited,
representing approximately 4.9% of the issued ordinary share capital of the
Company.


This information is provided by RNS
The company news service from the London Stock Exchange

Zinc prices rise Rs 1,150 in less than two months

Dilip Kumar Jha / Mumbai October 13, 2005



Zinc slabs price has jumped dramatically by Rs 1,150 to Rs 9,050 per quintal in Mumbai non-ferrous metals market in the last one-and-a-half month on rising demand from the steel galvanising industry.

Galvanised steel is a major component of infrastructure projects such as buildings, bridges, airports and stadiums. Approximately 67 per cent of zinc produced globally is used for steel galvanising. The devastation caused by Hurricane Katrina also added to the surge in zinc price as 50 per cent of global zinc deposits lies in warehouses in New Orleans.

Spot zinc on LME perked up $125 to $1,484 per tonne on October 11 following a supply crunch. LME registered warehouses in New Orleans are holding 2,48,575 metric tonne (mt) of zinc, of which 2,01,375 mt is open tonnage.

The supply of the metal was suspended since good delivery became impossible because of the hurricane. The price movement in the international market and the domestic market is in sync.

An increasing concern in the market is the strike at Belgian metals company Umicore SAs 2,50,000 mt Balen zinc smelter plant. The strike began last Thursday. Analysts believe the prices would increase further, if the company management does not resolve the issues immediately.

Usually the rising prices take a toll on treatment charges fee paid to miners to refine concentrate into zinc metal which is expected to dip to double-digit figure this year due to a persistent concentrate shortage.

In 2005, the benchmark treatment charges fell to a record low of around $126 a mt. In the next year, annual contracts might conclude as low at $95-$110 per mt.

Apart from steel galvanising, zinc is primarily used by the toys industry, which consumes approximately 16 per cent of the world zinc production.

India being one of the largest toys producer and consumer, domestic demand for zinc is expected to grow significantly. Hindustan Zinc is the largest zinc producer in the country with an overall production of 5.75 lakh tonne. Binani Zinc comes at the second slot with a capacity of 33,000 tonne.

The price of zinc slabs is expected to grow further in the domestic market as the production here has failed to meet the rising demand from consumer industries. The demand, which stood at 3.5 lakh tonne in 2003-04, stood at 4 lakh tonne in 2004-05.

The demand is expected to grow 12-15 per cent in the next five years.



Zinc prices rise Rs 1,150 in less than two months

Dilip Kumar Jha / Mumbai October 13, 2005



Zinc slabs price has jumped dramatically by Rs 1,150 to Rs 9,050 per quintal in Mumbai non-ferrous metals market in the last one-and-a-half month on rising demand from the steel galvanising industry.

Galvanised steel is a major component of infrastructure projects such as buildings, bridges, airports and stadiums. Approximately 67 per cent of zinc produced globally is used for steel galvanising. The devastation caused by Hurricane Katrina also added to the surge in zinc price as 50 per cent of global zinc deposits lies in warehouses in New Orleans.

Spot zinc on LME perked up $125 to $1,484 per tonne on October 11 following a supply crunch. LME registered warehouses in New Orleans are holding 2,48,575 metric tonne (mt) of zinc, of which 2,01,375 mt is open tonnage.

The supply of the metal was suspended since good delivery became impossible because of the hurricane. The price movement in the international market and the domestic market is in sync.

An increasing concern in the market is the strike at Belgian metals company Umicore SAs 2,50,000 mt Balen zinc smelter plant. The strike began last Thursday. Analysts believe the prices would increase further, if the company management does not resolve the issues immediately.

Usually the rising prices take a toll on treatment charges fee paid to miners to refine concentrate into zinc metal which is expected to dip to double-digit figure this year due to a persistent concentrate shortage.

In 2005, the benchmark treatment charges fell to a record low of around $126 a mt. In the next year, annual contracts might conclude as low at $95-$110 per mt.

Apart from steel galvanising, zinc is primarily used by the toys industry, which consumes approximately 16 per cent of the world zinc production.

India being one of the largest toys producer and consumer, domestic demand for zinc is expected to grow significantly. Hindustan Zinc is the largest zinc producer in the country with an overall production of 5.75 lakh tonne. Binani Zinc comes at the second slot with a capacity of 33,000 tonne.

The price of zinc slabs is expected to grow further in the domestic market as the production here has failed to meet the rising demand from consumer industries. The demand, which stood at 3.5 lakh tonne in 2003-04, stood at 4 lakh tonne in 2004-05.

The demand is expected to grow 12-15 per cent in the next five years.

Zinc pauses for a breather


Metals Insider - 17 October 2005



MI WEEK IN REVIEW: Zinc took something of a time-out last week after hitting the next big number target of $1,500, basis three-month metal. But the funds continue to like this one and with upside momentum on copper in particular stalling for now, there's a renewed sense the good times are rolling again for the zinc market.



Three-month metal initially built on its momentum of the previous week to touch the $1,500 level on both Tuesday and early Wednesday before the urge to take some profits outweighed fresh commitments from the investment community.



That's hardly surprising since the CTA systematic community alone had lifted its collective long exposure to zinc to 80% and above in the first day or so of last week.



But the pull-backs were generally shallow with plenty of players ready to commit to the uptrend at slightly lower numbers and the relatively weak Friday close of $1,475 still amounted to only a $3 week-on-week decline.



One feature worth noting, though, was the expansion of the contango across the nearby structure of the LME market. The benchmark cash-3s spread ended the week valued at $18.75 contango, compared with $8 the previous week.



That reflected rising expectations that the good delivery suspension of all that metal in New Orleans may be lifted in the near future. The LME finally detailed the process for reinstating the metal and one optimistic player even cancelled 75t on Thursday at the hurricane-hit city.



The contango says there is still a lot of metal in the LME system to be worked off before stocks fall anywhere near to the pinch-points experienced by copper and nickel earlier this year but zinc is back in favour with the fundsmore than any other LME-traded metal right nowand all the fundamental signals are sending them a green light.

ZincOx Resources PLC
26 October 2005


ZincOx Resources plc signs zinc mine
Exploitation Contract with the Government of Yemen

26 October 2005

ZincOx Resources plc (ticker: ZOX) is pleased to announce that its 60%
subsidiary company, Jabal Salab, has signed an Exploitation Contract with the
Geological Survey and Mineral Resources Board (GSMRB) representing the
Government of Yemen, to mine and process zinc at the Jabali deposit. The Jabali
zinc oxide deposit is located 110km north east of Sana'a, the capital of Yemen,
and contains a resource, calculated in accordance with the JORC code of 12.6
million tonnes of ore at a grade of 8.9% zinc, 1.2% lead and 68grams/tonne
silver.

Andrew Woollett, Managing Director of ZincOx, commented: 'The Jabali deposit was
discovered in the early 1980s but it has not been developed until now because of
the complex mineralogy. Once again it is the metallurgical expertise at ZincOx
which will allow us to realise the potential of this attractive resource for the
benefit of our shareholders, our partners and the people of Yemen.'

The Exploitation Contract is subject to the approval of the Cabinet and
Parliament, which is expected during the first quarter of 2006. It will then be
ratified by the President of Yemen and incorporated in law. It sets out the
terms under which Jabal Salab can mine and process zinc from the deposit. These
include a 20 year lease, a 1.5% net smelter return Royalty, a tax holiday of six
years and repayment of past costs incurred by the GSMRB of US$5million
commencing in the fourth year. The terms do not differ materially from those
assumed in the Feasibility study completed earlier this year (see Press Release
dated 15 March 2005).

The Feasibility Study, which was completed by ZincOx and MDM, a firm of mineral
engineers from South Africa, was based on the mining and processing of 800,000
tonnes per annum of ore at a mined grade of 9.2% zinc over a life of 11 years.
There is potential to increase the ore resource as the deposit is open on two
sides.

Mining will be by means of an open pit with a waste to ore strip ratio of 2 to
1. The ore will be treated by the LTC process developed by ZincOx and its
consultants and piloted, using Jabali ore, at an independent laboratory in
Belgium. The plant is expected to recover 77% of the zinc for the production of
approximately 70,000 tonnes per annum of high quality zinc oxide, containing
more than 99% zinc oxide. The quality of the final product will allow Jabal
Salab to sell direct to end users of zinc oxide, thereby benefiting from a
premium price.

The capital cost of developing the mine, processing plant, infrastructure and
associated facilities is estimated at US$75.4million.

Scott Wilson Mining, a UK based firm of mineral consultants has prepared an
environmental impact study in accordance with guidelines set down by the World
Bank. The report has already been approved by the Yemen Environment Protection
Authority, thereby satisfying all environmental permitting requirements.

ZincOx has been approached by various banks with the aim of providing project
finance for the development of Jabali. Export credit agency political and
commercial risk cover is available for Yemen which will greatly assist the
arrangement of finance.

The progress now made with the Exploitation Contract will allow ZincOx to press
ahead with its plans for project finance which is the next phase of the
project's development. It is expected that financing will be in place during the
third quarter of 2006, with construction, which will take 18 months, starting
shortly thereafter.

For further information, please contact:

For more information please contact:

Peter Wynter Bee Leesa Peters / Pam Spooner
ZincOx Resources plc Conduit PR
Tel: +44 (0) 1276 455700 Tel: +44 (0) 20 7618 8533

pwynterbee@zincox.com

leesa@conduitpr.com

Good to see that recent 10% fall (for no apparent reason other than the markets looked a bit dodgy) partially reversed. The market cap is so low I can't see much downside.

rgrds
gk

ZincOx Resources PLC British bulls 26/10/05
Daily Commentary

Our system posted a BUY CONFIRMED today. The previous SELL recommendation that was confirmed was made on 17.10.2005 (10) days ago, when the stock price was 159.5000. Since then ZOX has fallen -3.76% .

Were you eager to go long? Well, without doubt, it was the right time to do so. The BUY signal was finally confirmed, and most probably you have called your broker and placed your long orders with no hesitation.

Don't worry if you have missed this buying opportunity. The market may now give you a second chance. You may still find good prices for buying in the next session.