Robex Is Granted Permit to Begin Work Toward Production
QUEBEC CITY, QUEBEC -- (Marketwire) -- 02/16/12 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to announce that the Government of Mali has granted it the necessary permit to begin work on the Mininko permit in order to launch operations at the Nampala deposit.
The permit has been granted to Robex to enable it to open access roads, prepare a tailings pond, waste stockpile, and low-grade ore stockpile within a reasonable timeframe in order to test the stresses and deformations of the operational conditions during the rainy season, build offices, production facilities, and homes for the local population, and conduct electrification and sheet metal work. Consult the permit (French).
Regis Desbiens, Vice-President of Mining at Robex, and his team are preparing to begin work on March 1, 2012, when Malian authorities hope to participate in the inauguration of the construction site.
Robex sincerely thanks his Excellency Amadou Toumani Toure, President of the Republic of Mali, and his team of advisors, Minister of Mines, and particularly his Minister Mr. Amadou Cisse, the DNGM, and its Director, Mr. Lassana Guindo, for their availability, courtesy, and efficiency. The way in which the permit application was handled demonstrates their willingness to help advance promising projects.
The feasibility study for the Nampala project established the economic viability of an open-pit mine with a net present value (NPV) before tax of $113.6 M to $1250 per ounce of gold and an internal rate of return (IRR) of 46.5%. Consult the press release of November 8, 2011.
Granting of stock options
The board of directors of Robex Resources has granted 500,000 stock options to its Vice-President of Mining, M. Regis Desbiens, under the Robex Stock Option Incentive Plan, which allows the holder to acquire an equivalent number of shares at an exercise price of $0.23 per share. The options carry a maturity date of five years.
The technical content of this release as well as the results set out have been verified by Jacques Marchand, P.Eng. P.Geo, geological engineer and an independent qualified individual.
This press release contains statements that may constitute 'forward-looking information' or 'forward-looking statements' as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex Inc.'s ('Robex') control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex's management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.
Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release.
Contacts:
Investor relations/information:
Andre Gagne
President and Chief Executive Officer
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11
Media relations:
Frederic Berard
Vice-President
H+K Strategies
514-395-0375, ext. 259
