ZincOx Resources PLC Continuing Improvement at Korean Recycling Plant (5641P)

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: [phone] 
 ZincOx Resources plc                                             0100 
 Andrew Woollett, Chief Executive Officer 
 
   Peel Hunt LLP (Nominated Adviser and Joint     Tel: [phone] 
   Broker)                                                        8900 
 Daniel Harris 
  Euan Brown 
 finnCap Limited (Joint Broker)                   Tel: [phone] 
  Joanna Weaving                                                  0500 
  Christopher Raggett 
 Tavistock Communications (Financial PR)          Tel: [phone] 
  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

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