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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Zincox Res. | LSE:ZOX | London | Ordinary Share | GB0031124638 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.45 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
By Philip Waller
LONDON--ZincOx Resources PLC (ZOX.LN) said Monday it had launched a joint venture with Korea Zinc Company Ltd to develop a galvanized scrap metal recycling plant in Vietnam.
KZC will fund a definitive development study to enable the finance to be raised to build the plant. The study is expected to cost about $2.5 million.
KZC will own 51% of a special-purpose company set up to develop the plant, with the remaining 49% held by ZincOx.
If the study costs more than $3 million, the interest of ZincOx in the joint venture will be diluted proportionately according to any extra funds that KZC has contributed. ZincOx will be able to buy back its interest to 49% on the same terms in the following six months.
-Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
January 23, 2017 05:29 ET (10:29 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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