Robex Resources Inc.: Significant Increase in Gold Production and Sales Since December 1, 2017
QUEBEC CITY, QUEBEC–(Marketwired – March 12, 2018) - Robex Resources Inc. (“Robex” and / or “the Company”) (TSX VENTURE:RBX)(FRANKFURT:RB4) is pleased to announce that the Nampala mine in Mali, has reached an average processing speed of 5,200 tonnes of ore. The constant improvements that have been made in 2017 to the technical, industrial and organizational processes have paid off.
The results of the last 90 days confirm that this production has stabilized and that this is expected to continue over time.
Increase in gold sales
The Company sold a total of 34,801 ounces (1,082 kg) during 2017, an average of 2,900 ounces (90 kg) per month. The recent increase in Nampala’s production therefore has a direct influence on gold sales as the Company has significantly increased their gold sales during the months of January and February 2018. The company plans to finish the first quarter of 2018 with a strong increase in sales compared to the average for the year 2017. The sales of the last three full months (December 2017, January and February 2018) were of 13,162 oz (409 kg), an average of 4,387 ounces (136 kg) per month.
In addition, ROBEX welcomes the performance achieved in terms of controlling fixed and variable costs, which positions the company at a very satisfactory level of financial performance and will further seek improvements.
2017 annual financial results
The Company will publish, on April 26, their consolidated financial statements and their management report for the year ended December 31, 2017.
This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex’s management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Montreal : (514) 939-3989
Toronto : (416) 644-2020
Ressources Robex Inc.
Augustin Rousselet, CFO et COO
Head office : (581) 741-7421