Jabali Debt Financing

18 Nov 2009 12:02



18 November 2009

ZincOx Resources plc

("ZincOx" or "the Company")

Jabali Debt Financing

ZincOx announced on 2 October 2009 that a default event had occurred under the $120 million bond facility raised by the Company's 52% owned Jabal Salab Company (Yemen) Limited ("Jabal Salab") to be utilised in the construction of the Jabali mine and plant (the "Facility").  

ZincOx and Jabal Salab yesterday signed a Standstill Agreement ("Agreement") with the bond holders. The Agreement has a two week term during which time the parties intend to finalise their discussions on the Facility.

For more information please contact:

Andrew Woollett, Chairman

ZincOx Resources plc

Tel: +44 (0) 1276 450100

John Harrison (Nominated Adviser)

James Black (Corporate Broker)

Numis Securities

Tel: +44 (0) 20 7260 1000

Charlie Geller/ Leesa Peters, Conduit PR

Tel (Direct): +44 (0) 20 7429 6604/ + 44(0) 7528 233 383