LONDON (Dow Jones)--ZincOx Resources PLC (ZOX.LN), a company engaged in the re-evaluation, exploration and development of zinc oxide material, said Monday that the Korean authorities have confirmed that the agreement for the purchase of the land for the site of the KRP has now been entered into by all relevant parties, and said it expects the lease to be finalized before the end of August. MAIN FACTS: -The Gyeongju City government on behalf of the Korean government has presented ZincOx with a draft lease agreement that provides for a 50 year free lease extendable every 10 years thereafter. -An engineering costing study is underway and negotiations with financing partners have started. -Negotiations for a re-financing are continuing with a number of interested parties. -All options for Jabali, ranging from an outright sale to traditional project finance, are still under consideration. -Shares at 0920 GMT up 1.25 pence, or 3.25%, at GBP39.75 pence, valuing the company at GBP30.95 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com (END) Dow Jones Newswires July 19, 2010 05:26 ET (09:26 GMT)