ZincOx Resources PLC Continuing Improvement at Korean Recycling Plant (5641P)
09 June 2015 - 4:00PM
UK Regulatory
TIDMZOX
RNS Number : 5641P
ZincOx Resources PLC
09 June 2015
9 June 2015
ZincOx Resources plc
("ZincOx" or the "Company")
Continuing Improvement at Korean Recycling Plant
ZincOx (AIM:ZOX), developer and operator of one of the largest
Electric Arc Furnace Dust ("EAFD") recycling facilities in the
world, is pleased to announce record monthly EBITDA(1) at its
wholly owned Korean Recycling Plant ("KRP").
The continued improvement in plant performance is demonstrated
by the following key indicators for April and May 2015:
April May
* EBITDA for KRP, US$: 768,000 1,010,000
* EAFD throughput, tonnes (target 17,600): 14,533 15,668
* Zinc in concentrate produced, tonnes: 3,006 3,618
* Zinc recovery (target 95%): 90% 91%
The tonnage of EAFD treated in April was reduced as a result of
planned maintenance that covered the first four days of the month.
In May, EAFD treatment was curtailed by a lack of EAFD that is
being addressed by entering into new contracts that should become
effective in July 2015.
Commenting on the announcement, Andrew Woollett, ZincOx's CEO,
said "Generating US$1 million of EBITDA in a month is an important
milestone for the Company. The continuing optimisation of the
operation in Korea is leading to greater profitability and further
fine tuning of the plant should increase recovery over the next few
months".
For more information please contact:
Tel: +44 (0) 127 645
ZincOx Resources plc 0100
Andrew Woollett, Chief Executive Officer
Peel Hunt LLP (Nominated Adviser and Joint Tel: +44 (0) 207 418
Broker) 8900
Daniel Harris
Euan Brown
finnCap Limited (Joint Broker) Tel: +44 (0) 207 220
Joanna Weaving 0500
Christopher Raggett
Tavistock Communications (Financial PR) Tel: +44 (0) 207 920
Simon Hudson 3150
Nuala Gallagher
[1] Earnings before interest, tax, depreciation and amortisation
(in accordance with the revenue recognition policy of the Company
and adjusted to exclude foreign exchange gains and losses)
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUGUQAQUPAGAR
Zincox (LSE:ZOX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Zincox (LSE:ZOX)
Historical Stock Chart
From Jul 2023 to Jul 2024