LONDON (Alliance News) - ZincOx Resources PLC on Wednesday said it saw record production from its Korean recycling plant in the first quarter, sending shares in the company higher in early trade.
ZincOx said throughput at the plant improved by 17% in the first quarter to the end of March, with electric arc furnace dust treated rising to 36,783 tonnes from 31,379 tonnes in the fourth quarter of 2014.
The plant is currently operating at around 90% of its target throughput per day and is generating positive earnings for the company, ZincOx said.
"With a practical solution to the heat exchanger corrosion, maintenance can be limited to three periods per year. Furthermore, our operational team will concentrate its efforts on optimisation of the process so that we can attain full monthly production," said ZincOx Chief Executive Andrew Woollett.
"In this regard, we are pleased to report that, during the first quarter of 2015, the operation has already shown a significant improvement," Woollett added.
ZincOx shares were up 8.6% to 9.775 pence on Wednesday, one of the best performers in the AIM All-Share in early trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.