ZincOx Resources PLC AGM Update (8236K)
June 30 2014 - 1:00AM
UK Regulatory
TIDMZOX
RNS Number : 8236K
ZincOx Resources PLC
30 June 2014
ZincOx Resources plc
("ZincOx" or the "Company")
KRP Ramp-up Progress
ZincOx Resources plc (AIM: ZOX), the operator of one of the
world's largest electric arc furnace dust zinc recycling
facilities, is pleased to announce that, at its Annual General
Meeting of shareholders to be held later today, it will provide the
following update on the continuing ramp-up of production at its
wholly owned Korean Recycling Plant ("KRP").
Following the record production month in May, production in June
has fallen as a result of a short suspension of operation to carry
out debottlenecking modifications that required a cooling of the
furnace. The underlying performance of the plant continued to
improve and, ignoring this suspension, production in July, assuming
no major work, is expected to set a new record.
The output of the plant is determined by four factors, the
tonnage of material being treated per hour (or feed rate), the
number of hours being worked in a given period (or running time),
the amount of zinc in each tonne of feed processed (or feed grade)
and the proportion of zinc being recovered (or recovery).
Currently, feed rate is at about 80% of target, running time is at
about 96% of target, recovery is at about 96% of target and feed
grade is at about 103% of target.
The de-bottlenecking modification has involved the installation
of cleaning manholes in the drop-boxes of the gas handling system.
At high output, the zinc product settles out of the offgases in the
central part of the drop-boxes which were inaccessible to cleaning
through the existing access doors. This build-up reduced offgas
flow and so impacted on plant capacity. New access points have been
made which allow these areas to be cleared so as to avoid
significant accumulation and prevent any restriction to the flow of
offgas or plant throughput.
Further regular updates will be provided in due course.
For further information, please contact:
ZincOx Resources plc Tel: +44 (0) 127
645 0100
Andrew Woollett, Executive Chairman
Peel Hunt LLP (Nominated Adviser Tel: +44 (0) 207
and Joint Broker) 418 8900
Richard Kauffer
Daniel Harris
finnCap Limited (Joint Broker) Tel: +44 (0) 207
Matthew Robinson 220 0500
Joanna Weaving
Tavistock Communications (Financial Tel: +44 (0) 207
PR) 920 3150
Simon Hudson
Nuala Gallagher
This information is provided by RNS
The company news service from the London Stock Exchange
END
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