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.
ZincOx Resources says production start at Jabali mine in Yemen on track
ZincOx Resources PLC (AIM: ZOX) said it remains on track to commence production at the Jabali mine in Yemen during the first half of 2010 as it reported results for the full year to December 31 2008.
The company which specialises in the low cost recovery of high grade zinc compounds from unconventional sources made a pretax profit of £6.4 million, compared with 15.4 million a year earlier, while it recorded sales of 262,000, against nil in 2007.
ZincOx said it is in a strong financial position having approximately £64.5 million in cash, almost no liabilities and no debt at the corporate level.
Chairman Andrew Woollett commented: “Having significant cash reserves means we remain in a strong and flexible position to progress our recycling strategy as the global economic environment improves.”
The development work at Jabali is progressing well. The site levelling is complete and the laying of the foundations is expected imminently. All of the major processing equipment has been ordered and some is already manufactured and awaiting transportation to site. The project remains within budget.



















