Robex Receives the Production Permit for its Nampala Project
QUEBEC CITY, QUEBEC -- (Marketwire) -- 04/03/12 -- It is with great pleasure and enthusiasm that Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) announces it has received its Production Permit for Gold and Mineral substances at Nampala (Decree No 2012-190/PM-RM) (see the production permit). With the delivery of this Production permit, Robex has now completed all legal requirements to officially begin production.
This Production Permit is valid for 30 years and complements the earlier permit delivered in February (see press release of February 16th) which allowed Robex to begin certain construction activities so as to prepare the mine site for production. At that time the Mali Authorities had clearly indicated that the decree would be delivered once signed by all Authorities and this has been done. Robex express its sincere appreciation to Mali Authorities for delivering it.
The delivery of this Production Permit is the final legal requirement for Robex to meet its objectives: the construction of an open pit mining operation with a cyanide treatment plant of a minimum capacity of 5,000 Tonnes per day. The final Feasibility on this project estimated a Net Present Value (5% discount) of $113.6 Millions before taxes at a gold price of $1,250 per once. The Internal Rate of Return was estimated at 46.5% (see press release of November 8th, 2011).
"It is with great pride that we receive this Production Permit, after 4 years of intense work to reach our objective of producing at Nampala. In waiting for this permit, we have already started some work of importance which will allow us to gain time on an eventual start of production" declared Andre Gagne as President & CEO of Robex. "I also wish to recognize warmly Mr. Abdel Kader Maiga, our General Manager at Bamako, for his excellent work and commitment in this undertaking. He has contributed greatly to Robex toward obtaining this Production Permit" added Andre Gagne.
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:
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