ROBEX: Q2 OPERATIONAL RESULTS IMPROVING AND COSTS UNDER CONTROL DESPITE INFLATIONIST ENVIRONMENT

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Algemeen advies 31/08/2022 11:27
All amounts are in Canadian dollars (CAD).
Quarterly Corporate Summary

Operations:
The number of ounces produced was 12,185, a 9.5% increase compared to the same quarter last year. The operational improvements completed by our teams have allowed us to continue to optimize the Nampala plant’s processing capacity. The installation of the new trommel at the beginning of June made it possible to increase production by improving plant availability.

In line with the new mine plan, the operational stripping ratio has slight decreased (4.1 compared to 4.8 for the same period in 2021), prompting a 1,3% decrease in the all-in sustaining cost (per ounce sold) i, going from $1,560 to $1,540.

Exploration:

Robex continued major exploration work on all of its licenses during Q2 of 2022, including license-wide soil geochemistry (BLEG), geophysical reinterpretations, remote sensing, surface rock chip sampling and drilling, including reverse circulation (RC) and diamond drilling (DD). These exploration workstreams were completed on each of the Senegalese-Malian shear zone license areas (Sanoula and Diangounté) as well as on the licenses neighbouring Nampala (Mininko and Gladié). RC and DD commenced at the beginning of the year with the objective of increasing the overall resource. A compilation of the geological work will be done during the third quarter to establish our 2023 exploration program combined with that of Kiniéro.

Finance:

A higher grade (0.84 g/t compared to 0.82 g/t for the same period in 2021) and a slight increase in the average gold selling price ($2,400 per ounce compared to $2,219 for the same period in 2021) resulted in a 17% increase in the operating income. While improving its cash flow, the Group continues to reduce its debt with a net cash position of $2.6 million as of June 30, 2022, compared to $3.1 million as of March 31, 2022.

Transaction:

The Company continues its efforts to complete the pre-feasibility study for the Kiniéro project in Guinea which was announced on August 29. To close the transaction, accounting work, as well as the integration of Sycamore’s teams and processes, is underway with a view to satisfying all conditions precedent to the completion of the transaction. The Group’s objective is to close this transaction with Sycamore Mining Ltd before the end of the third quarter.

Mr. Georges Cohen, President of Robex, declared: “Despite the uncertain environment and the inflationary pressures, the operational performance of Nampala is improving and our costs are under control. We are still integrating the Sycamore team and we have strengthened our teams in Guinea and Quebec. We hope to close the transaction we announced during this quarter, in September. This closing will be the next stage to pivot our Group toward a growth strategy in Mali and in Guinea.”

Second Quarter of 2022 Operating and Financial Results Highlights

go to
https://robexgold.com/en/actualites/robex-q2-operational-results-improving-and-costs-under-control-despite-inflationist-environment/

and

ROBEX: REPORTS PREFEASBILITY STUDY RESULTS FOR KINIERO, US$ 199 MILLION NET PRESENT VALUE, 1.28MOZ OF M&I AND 1.4MOZ OF INFERRED.
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Québec City, Quebec, August 29, 2022 — Robex Resources Inc. (“Robex?”, “the Group” or “the Company”) (TSXV:RBX) is pleased to announce that it has recently completed a positive Pre-Feasibility Study (“PFS”) and Mineral Reserve estimation for the Kiniero Gold Project (“Kiniero Project”, the “Kiniero Gold Project” or “Kiniero”) located in Republic of Guinea, West Africa.

Earlier this year, Robex announced a business combination with Sycamore Mining Ltd (the “Acquisition” or the “Transaction”), a Cyprus based mining Company owning the Kiniero Project. Closing of the Transaction is still expected to occur after the publication of the new NI 43-101 report and satisfaction of the other conditions precedent to closing, expected by end of Q3 2022.

The PFS confirms good economics for the re-development of the open-pit operations at Kiniero, targeting a series of 5 deposits (the Sector Gobele A “SGA” Complex, Sabali, Mansounia Central, Jean and West Balan) for a total of 13 ore bodies that will feed a central gold processing facility..

Benjamin Cohen, CEO of Robex stated:

“The new Robex team has completed a major step in de-risking Kiniero, demonstrating a robust starter project with attractive economics. We have demonstrated 1.28 Moz of M&I and 1.4 Moz of Inferred of current resources and significant near-term exploration upside. We believe this will allow us quickly to increase the life of mine and the value of the project.

The group also progressed at the operational level with an expanded team to implement Nampala’s proven operational DNA.

With Nampala performing extremely well we can capitalise on our position to optimise the intrinsic value of Kiniero. We believe the Project’s location in the heart of the prolific Kiniero District, scale, economics, permitting status, and extensive technical work make Kiniero a unique asset in West Africa. We are progressing quickly towards production at the heart of this new multi millions onces gold basin in west Africa.

With this PFS we will continue our discussions with the financiers to accelerate investments by end-2022. This would help us to move towards our target of first pour in Q1 2024”.

The PFS was conducted by Mining Plus UK Limited (“Mining Plus“), independent of Robex.

Table 1 : Project Estimates Highlights
go to
https://robexgold.com/en/actualites/robex-reports-prefeasbility-study-results-for-kiniero-us-199-million-net-present-value-1-28moz-of-mi-and-1-4moz-of-inferred/



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