Robex Buys Back 1 % of NSR from GSI
QUEBEC CITY, QUEBEC -- (Marketwire) -- 11/06/12 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) is pleased to confirm that it bought back 1 % of NSR (net Smelter Return) detained by Geo Service International Ltd (GSI).
Thus, the NSR of 2 % which GSI detains since the initial agreement of March 8th, 2005 for concessions of Mininko and Kamasso, will now be 1 % in compensation for a sum paid of $250 000 CAD.
Andre Gagne, president and CEO, declares: "We are very pleased with this transaction as it reduces by half the royalties payable on income generates under the agreement with GSI. Robex, being at the door of gold production, this decrease of 1% represents a significant added value for Robex shareholders".
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.
The TSX Venture Exchange or its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts no liability for the authenticity or accuracy of this release.
Contacts:
Investor relations/information
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11