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14/10/2011

ZincOx chief says the company is on budget and on schedule to deliver production in Feb 2012

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Additional Information
Market: AIM
Sector: General Mining - Zinc, Lead and Tin
EPIC: ZOX
Latest Price: 79.50p  (0.63% Ascending)
52-week High: 85.00p
52-week Low: 47.50p
Market Cap: 70.77M
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ZincOx Resources
www.zincox.com

ZincOx Resources' principal priority is the creation of value by the development of mining and recycling operations that benefit from low cost processing of unconventional zinc bearing materials. Secondarily and where financing is available, added value will be created by the development of refining operations. The company's objective is to become a major low cost zinc producer.

Full ZincOx Resources profile here
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ZincOx minority shareholders holding 5% requisition meeting to oust management

18th Mar 2010, 3:10 pm ZincOx minority shareholders holding 5% requisition meeting to oust management

ZincOx Resources (AIM: ZOX) informed investors that, on the 16 March 2010, it  received notice of requisition for a general meeting from two of its shareholders which together hold 5% of its issued share capital.

In a separate statement, the shareholders identified themselves as Aldersgate Investment Managers and US SDR LLC.

Zincox said it will call a general meeting, which according to the TS SDR statement has to occur with six weeks of the requisition notice. The requisition proposes the removal of six of the company’s current directors, to be replaced by two new directors, Russ Robinson and Barry Hamilton.

ZincOx's main projects are the Jabali zinc oxide deposit in Yemen and the development of a zinc reclamation operation in North America, the Ohio Recycling Plant. The planned ORP is the company’s most advanced recycling project which will process electric arc furnace dust (EAFD), a by-product from steel recycling processes, to produce zinc. According to ZincOx, EAFD contains about four times more zinc than the average natural deposit. EAFD generally contains between 18% and 25% zinc.

Russ Robinson is the principal owner of US SDR LLC, which was founded in 2006 to build and operate Waelz Kiln processing plants to recycle EAFD to produce zinc oxide and waelz iron product. US SDR sold its Waelz Kiln plant in Alabama in October 2009.

The six directors named by the minority shareholders consist of executive chairman Andrew Woollett, managing director Peter Wynter Bee, finance director Simon Hall, technical and production director Jacques Dewalens, project development director Simon Mulholland and non-executive director Gilles Masson.

In terms of shareholdings, Aldersgate is ZincOx’s seventh largest significant shareholder with approximately 4.4% of the company. ZincOx’s three largest shareholders are Heogh Capital Partners with 12.8%, M&G Securities with 9.1% and Sloane Robinson Investment with 9.5%. The company’s other significant shareholders include Sisu (4.9%), JP Morgan (6%) and Teck (7.1%).

ZincOx said it will provide notice of the general meeting in due course and in accordance with its articles of association.

Shares in the group were trading up more than 12 percent in late afternoon deals.

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