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15 Jun 2010 17:04
15 June 2010
ZincOx Resources plc
("ZincOx" or "the Company")
Resolutions passed at AGM
At the annual general meeting of ZincOx Resources plc held on Tuesday 15 June all resolutions were duly passed.
Andrew Woollett, Executive Chairman, gave an update on progress which is summarised below:
Jabali zinc mine and processing plant
Negotiations for a re-financing are continuing with a number of interested parties. There is a wide spectrum of possible options for Jabali, ranging from an outright sale to traditional project finance.
Ohio recycling plant
Negotiations for EAFD supply contracts are ongoing in the USA whilst engineering for the necessary modifications to the rotary hearth furnace is underway.
Korea recycling plant ("KRP")
Following the award of Foreign Investment Zone status, the Korean authorities are progressing with the purchase of the land so that the site for the KRP may be leased to ZincOx. Discussions with potential engineering contractors and financing partners have started.
Andrew Woollett said,
"The local government, KOTRA (the Korea Trade Investment Promotion Agency) and KOSA (the Korean steel industry association) are all working hard on our behalf to secure the land for the KRP and if this is completed in the next few months, as we anticipate, we will be able to accelerate the development of this project."
For further information, please contact:
ZincOx Resources plc Conduit PR
Peter Wynter Bee, Managing Director Charlie Geller
Tel: +44 (0) 1276 450100 Tel (Direct): +44 (0) 20 7429 6604
Numis Securities
John Harrison, as Nominated Adviser
James Black, as Corporate Broker
Tel: +44 (0) 20 7260 1000
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