Asset Match
02 May 2017
ZincOx - Asset Match Good afternoon,No doubt many of you will have picked up the latest RNS from the company stating that they have put in place a share trading facility following their AIM cancellation (link below).[link] are certainly here to help, so please feel free to contact us on Tel: 020 7248 2788 or alternatively [email protected] should you need any further assistance.Kind regards,Ben Weaver
HPC Follower
14 Apr 2017
Anyone still holding here? The next AGM is going to be held on Friday 16th June, in London.I hope to go, to hear more on progress towards the planned plant in Vietnam, and talk with Andrew.
HPC Follower
26 Jan 2017
Re: A further step in the right directio... I agree, although I'm only 91.5% down after topping up; still hoping for some level of recovery with the increasing price of zinc helping some of the new projects planned...
tullowtosell
25 Jan 2017
Re: A further step in the right direction Yes still holding. When you are 99.42% down theres not much else to do!!!
HPC Follower
25 Jan 2017
A further step in the right direction RNS today... Sale completed and the company is now debt free with $2 million to re-build it (privately for the immediate future).Anyone else here still holding like myself?
HPC Follower
23 Jan 2017
Continuing good progress... ZincOx Resources plc("ZincOx", the "Company" or the "Group"
Joint Venture Agreement with Korea Zinc regarding Vietnamese Recycling Project Joint Venture.ZincOx Resources plc ("ZincOx" or "the Company" is pleased to announce that on 19th January it entered into a Joint Venture Agreement ("JVA" with Korea Zinc Company Limited ("KZC" for the joint development of a recycling plant in Vietnam, the terms of which were set out in an MoU, previously announced on 24 November 2016.Under the JVA, KZC will fund 100% of a Definitive Development Study (DDS) in sufficient detail to enable the raising of project finance for the construction of the project. The DDS is expected to cost about US$2.5 million. KZC will own 51% of a special purpose company which has been set up to develop the recycling plant, with the remaining 49% held by ZincOx. In the event that the DDS costs more than US$3m, the interest of ZincOx in the joint venture shall be diluted proportionately accordingly to the additional funds that KZC has contributed, however ZincOx will be able to buy back its interest to 49% on the same terms in the following six months.The recycling plant will be based on the Rotary Hearth Furnace (RHF) technology developed by ZincOx in Korea. The Korean Recycling Plant, now owned by KZC, is one of the world's largest facilities recycling the waste dust (EAFD) generated by recycling galvanised steel scrap and has a design capacity of 200,000 tonnes per annum.The Vietnamese recycling plant is planned to treat up to 100,000 tpa of EAFD and, in addition, to upgrade both the iron and zinc intermediate products of the RHF to final products.
HPC Follower
13 Jan 2017
Re: Another step in the right direction Muscati, please remember that about a year ago now the directors stopped taking salaries because of the lack of cash, directly attributed to the price of zinc being less than half of today's price - so costs then exceeded revenue; and the finance director had to move on because he couldn't earn enough with ZOX if he stayed on - so another person has the job on a part-time basis for now at least.ZOX also had to let go all of the staff in their Belgium based Metallurgical research team which I personally hold responsible for wasting £millions trying to solve the Korean plant heat exchanger problem when the simple solution was just to remove them and use extra oxygen to compensate for the heat no longer retained. The learning curve was just too long with the first plant, and operating process/equipment adjustments too expensive as zinc prices dropped.The outstanding loans had to be paid off now if only because the company would have folded otherwise. It leaves ZOX debt free with it's knowledge, IPR, business contacts and a few key directors (Andrew Woollett in particular) able to re-start the business through a number of projects where they are making good headway, e.g. in Thailand. The major shareholders and the ZOX directors all have significant financial incentives to turn the business around even whilst the company is effectively now a private limited company. These projects will be crucial for shareholder returns in the future.
muscati
12 Jan 2017
Re: Another step in the right direction As long as management just keep banking their pay cheques and do very little to create value there is a very slim chance for shareholders to see any returns.
HPC Follower
12 Jan 2017
Another step in the right direction Note ZOX is now "debt free", and the plural in "projects"... with the strong price of zinc helping:-ZincOx Resources plc("ZincOx", the "Company" or the "Group"Sale of Remaining Interest in KRPZincOx Resources plc ("ZincOx" or "the Company" is pleased to announce that on 11 January 2017 it entered into a Sale and Purchase Agreement ("SPA" with Korea Zinc Company Limited ("KZC" in regard to the Company's remaining interest in Zinc Oxide Corporation ("ZOC", formerly known as ZincOx Korea Limited, owner of the Korean Recycling Plant ("KRP".KZC has agreed to pay a total of USD 7,950,000 in two tranches for the remaining interest in ZOC, of which USD 7,000,000 is to be paid within three weeks and the balance once KZC has completed various procedural requirements in Korea. In the event that the second tranche is delayed by nine months, interest will start to be paid at five per cent. per annum on the amount outstanding. It is anticipated that the second tranche will be paid within six months and in the meantime the shares will be held by KZC in escrow. The carrying value of this asset shown in the Interim Statement of the Company at 30 June 2016 was USD 5,800,000; thus this transaction results in a gain of approximately USD 2,000,000.The proceeds from the sale will be used to repay the Company's Corporate Loan Notes, which together with accrued interest amounts to approximately USD 5,000,000 (£ 4,000,000). The balance will be used to progress other projects upon which we have been working.Commenting on the announcement, Andrew Woollett, ZincOx's CEO, said: "The sale will enable the Company to pay off all its debt and provide sufficient funds for us to work on new and exciting major projects around which the Company can be rebuilt" This announcement contains inside information for the purposes of Article 7 of regulation 596/2014.
HPC Follower
30 Dec 2016
Happy New Year to everyone continuing to work for and support Zincox Resources in its efforts to re-start and grow their business... including the shareholders who have stayed with the company despite the delisting in 2016.2017 will see ZOX survive or fail, hopefully the former if the price of zinc strengthens whilst some of the projects in the pipeline are launched..
Cadenza
28 Nov 2016
approaching 9 year high for zinc It will be a great day as and when/if ZOX is re-listed but for the time being I am happy being moth balled in the private sector. Thank you HPC and Ninja for the updates.
NinjaZippy
26 Nov 2016
Further Info. ZincOx Resources plc(“ZincOx”, the “Company” or the “Group”Memorandum of Understanding with Korea Zincregarding Vietnamese Recycling Project Joint VentureZincOx Resources plc (“ZincOx” or “the Company” is pleased to announce it has entered into aMemorandum of Understanding with Korea Zinc Company Limited (“KZC” for the joint developmentof a recycling plant in Vietnam.The MoU sets out the principle terms of a Joint Venture Agreement under which KZC and ZincOx willjointly design and develop the new recycling plant.The MoU foresees KZC funding 100% of a Definitive Development Study (DDS) in sufficient detail toenable the raising of project finance for the construction of the project. The DDS is expected to costabout US$2.5 million. Korea Zinc will own 51% of a special purpose company which will be set up todevelop the recycling plant, with the remaining 49% held by ZincOx. In the event that the DDS costsmore than US$3m, the interest of ZincOx in the joint venture shall be diluted proportionatelyaccordingly to the additional funds that KZC has contributed, however ZincOx will be able to buyback its interest to 49% on the same terms in the following six months.The recycling plant will be based on the Rotary Hearth Furnace (RHF) technology developed byZincOx in Korea, and where KZC are the Company’s partners. The Korean Recycling Plant is one ofthe world’s largest facilities recycling the waste dust (EAFD) generated by recycling galvanised steelscrap and has a design capacity of 200,000 tonnes per annum.The recycling plant is planned to treat 100,000 tpa of EAFD and in addition to upgrade both the ironand zinc intermediate products of the RHF to final products.Commenting on the announcement, Andrew Woollett, ZincOx’s CEO, said:“We can now accelerate the programme for the development of this important project, and we lookforward to entering into the full Joint Venture Agreement in the very near future.”
HPC Follower
24 Nov 2016
Good progress... Korea Zinc are helping to give ZOX second chance to recover their business; and so they should given the profit they should now be making from their 90% of the South Korea based plant given the strong zinc price recovery, now around $2,600 a tonne. Wouldn't ZOX shareholders have been so much better off if they has been prepared to find that $5m needed as a bridge year ago now when zinc dropped to just $1,500 a tonne?Nevertheless, for those still holding ZOX stock, whilst a private company for immediate future, this is very encouraging news... hopefully to be matched or bettered by one or two of the other project opportunities still being chased.This would rate a STRONG BUY if there was a market to buy/sell ZOX stock...
HPC Follower
03 Nov 2016
Re: Last Day of Trading... corrected Not bust, but gone "private" as the current business with only 9% of the Korean plant (although now no debt) isn't enough business to meet AIM inclusion rules.Many shareholders have stayed in (like myself) and are supportive of a number of potential projects in Vietnam and elsewhere. The company could fail inside a year or start to turnaround - currently helped by the rising price of zinc after being hit by the very poor prices a year ago.The key directors have a big financial incentive to get ZOX into some of these new projects over the next few months... to utilise their IPR and knowhow.
Ripley94
02 Nov 2016
Re: Last Day of Trading... corrected Gone bust ?
