QUEBEC CITY, Nov. 29, 2019 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" and/or "the Company") (TSXV: RBX / FWB: RB4) is pleased to publish news on their on-going operations.
EXPLORATION
The Board has placed additional emphasis on the budget allocated to prospecting in order to accelerate the work needed to discover new supplementary deposits.
Until now, such work was mainly outsourced. Though this provided excellent results, we think they could be sped up further by integrating work into the Company on a wider scale and minimizing subcontracting—enabling faster work at a lower cost.
ROBEX has set up a new exploration department integrating internal skills and supervised by 2 independent QPs. From January 2020, this means drilling continuously (and no longer by campaign). This will optimize costs, increase the number of drill-holes and the speed of work, making it possible to discover additional reserves and add value to Malian soil.
Accompanying this new organization, the Company is investing:
- In equipment: calls for tenders are underway to select new drilling equipment;
- In the construction of a 700 m² carro library (end of Q1 2020);
- In dedicated hardware and software;
- In the training of geologists on the latest software tools; and
- In the laboratory (managed on site by SGS) to be able to absorb the increase in the number of samples to be analyzed.
OPERATIONS
The Nampala mine will continue investing to maintain a high level of security presence and sustain the lowest possible production cost:
- Generating station
The Nampala mine is currently installing 3 Caterpillar generator sets (2 MWh each). On this occasion, the control-command system for the entire plant is being upgraded to optimize operation and maintenance of all of the plant’s generator sets and to eventually enable integration of a hybrid energy mix based on renewable energies in order to reduce the greenhouse gas impact (solar power plant + battery) and the cost of power generated, not to mention, to ensure stable power production thanks to the excess capacity the arrival of these three generator sets represents.
- Fuel power plant
Diesel storage capacities will be expanded to increase safety stock levels and to take into account the additional needs of the new exploration department. Fuel consumption tracking is being switched from a traditional system to a digital system, from the fuel’s arrival to its final consumption. This should make it possible to ensure highly accurate tracking of deliveries and actual consumption in order to very precisely monitor fuel costs. Our challenge is to lower costs further while offsetting the increased consumption linked to increased production.
- Ore preparation
After starting up the crusher (Mineral Sizer); the initial feedback is very satisfactory, both in terms of the ore and production stability. Therefore, this investment will be made permanent by adding a detachable conveyor enabling the mineral sizer to feed the plant directly. Furthermore, the ball mill circuit will also be supplemented by a secondary crusher, which will increase efficiency of the milling circuit.
The process water supply circuit is being improved to support production growth.
- Stock management
In-depth work on continuous improvement of stock management and procurement is underway for more effective quality control and quality assurance. Extensive work was also undertaken to rein in supplier procurement costs a bit more. This therefore involves further improving performance and availability of stock and purchases.
SECURITY
The Nampala mine has strengthened its security teams. An additional security expert with in-depth experience has been appointed. Even though the area is unstable, we should congratulate ourselves on the fact that no significant events have been reported, and we take care to guarantee the security of goods and people through multiple actions. This subject is one of the Board’s top concerns, owing to what happened a few days ago in Burkina Faso.
CSR
CSR (Corporate Social Responsibility) is on the rise. A new community development plan is currently in the works in cooperation with community representatives in order to add value to sustainable development. Good environmental work, collaboration with communities and the benefit of projects essential to community living, including healthcare and education, effectively contribute to local partnerships that are advantageous to local development and which add to the significant impact of jobs created in the region.
OPTIONS
With the excellent work done and great results achieved by Robex’s teams, Robex announces the grant of 11,700,000 stock options to directors, officers and employees. These stock options are granted in accordance with the terms of the stock option plan of the Company. All options vest on their date of grant and each option entitles the holder thereof to purchase one (1) common share of the Company at a price of CND $0.13 per common share for a period of five (5) years from November 29, 2019.
Robex currently has 580,259,566 common shares issued and outstanding. Under the Company’s Stock Option Plan, a maximum of 34,770,600 common shares are available to be issued pursuant to the exercise of options at this time. Including this grant of options for 11,700,000 common shares, a total of 23,000,000 common shares have been reserved for issuance pursuant to outstanding option grants. There are 9,520,600 further common shares remaining available for issuance at this time with respect to future option grants.
For information:
Robex Resources Inc.
Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
Head office: (581) 741-7421
info@robexgold.com
This news release contains statements that may be considered “forecast information” or “forecast statements” in terms of security rights. These forecasts are subject to uncertainties and risks, some of which are beyond the control of Robex. Achievements and final results may differ significantly from forecasts made implicitly or explicitly. These differences can be attributed to many factors, including market volatility, the impact of the exchange rate and interest rate fluctuations, mispricing, the environment (hardening of regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government policies or regulations (laws and policies), an inability to obtain necessary permits and approvals from government agencies, or any other risk associated with mining and development. There can be no assurance that the circumstances set out in these forecasts will occur, or even benefit Robex, if any. The forecasts are based on the estimates and opinions of the Robex management team at the time of publication. Robex makes no commitment to make any updates or changes to these publicly available forecasts based on new information or events, or for any other reason, except as required by applicable security laws. The TSX Venture Exchange or the Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the authenticity or accuracy of this news release.