9th Jun 2015 07:00
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 EBITDA1 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:
ZincOx Resources plc |
Tel: +44 (0) 127 645 0100 |
Andrew Woollett, Chief Executive Officer | |
Peel Hunt LLP (Nominated Adviser and Joint Broker) |
Tel: +44 (0) 207 418 8900 |
Daniel Harris Euan Brown
| |
finnCap Limited (Joint Broker) Joanna Weaving Christopher Raggett
| Tel: +44 (0) 207 220 0500 |
Tavistock Communications (Financial PR) Simon Hudson Nuala Gallagher | Tel: +44 (0) 207 920 3150 |
[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)
Related Shares:
Zincox Resources Plc