11th Jul 2008 14:50
ZincOx Resources plc
11 July 2008
RESULTS OF EXTRAORDINARY AND ANNUAL GENERAL MEETING
UPDATE ON PROGRESS
At the extraordinary and annual general meetings of the shareholders of ZincOx Resources plc ("ZincOx" or "the Company") held on Friday 11 July all resolutions were duly passed.
Commenting on the announcement the Chairman of the Company, Andrew Woollett said "We are delighted to have closed this very important financing designed to enable the Company to complete the development of the Ohio Recycling Project. We are continuing to press ahead with the development of the project so as to achieve the commissioning of the plant in the final quarter of 2009".
Mr Woollett went on to give a brief update on the Company's activities, the key points of which are presented below:
Ohio Recycling Project
Ground breaking ceremony well attended on June 17th
Site work starting July 2008
Long lead time items being ordered
Jabali Mine
Access road 50% completed
60% of principal equipment ordered
Mining fleet in country
Production personnel being recruited
Site work to commence July 2008
Production on schedule for Q4 2009
Other Recycling Projects
Thailand - Environmental application submitted
Turkey - Awaiting zoning clarification
Korea - Memorandum of Understanding with the Korean Iron and Steel
Association, KOSA, signed on the 26th June
KOSA has agreed to assist ZincOx with permitting and regulatory approvals for a new recycling plant designed to treat all of Korea's electric arc furnace dust (EAFD) and with the negotiation of long term EAFD supply agreements with the operators of Korean Electric Arc Furnaces.
Board Changes
In order to support the company's transition to operating its own development and production activities, the Board has been restructured by the appointment of executive directors with extensive operational experience and non-executive directors with a proven track record in the management of high growth companies.
For further information, please contact:
Andrew Woollett / Peter Wynter Bee, 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 / Ben Way, Conduit PR
Tel (Direct): +44 (0) 20 7429 6604
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Zincox Resources Plc