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Last C$0.09 CAD
Change Today -0.005 / -5.26%
Volume 18.0K
RBX On Other Exchanges
As of 2:09 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

robex resources inc (RBX) Snapshot

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52 Week High
07/4/14 - C$0.25
52 Week Low
10/21/14 - C$0.04
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robex resources inc (RBX) Details

Robex Resources Inc., a junior exploration and mining development company, engages in the acquisition, exploration, and production of gold. The company has interests in the eight exploration permits in Mali. Its principal project is the Nampala mine located on the Mininko permit. The company was founded in 1985 and is headquartered in Quebec, Canada.

Founded in 1985

robex resources inc (RBX) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: --
Chief Financial Officer, Chief Operation Offi...
Total Annual Compensation: C$225.0K
Executive Corporate Secretary
Total Annual Compensation: C$167.0K
Head of Legal Affairs and Human Resources
Total Annual Compensation: C$225.0K
Mine Director
Total Annual Compensation: C$160.3K
Compensation as of Fiscal Year 2014.

robex resources inc (RBX) Key Developments

Robex Resources Inc. Auditor Raises 'Going Concern' Doubt

Robex Resources Inc. filed its Annual on Apr 16, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Robex Resources Inc. Announces the Launch of the Work Startup aat the Nampala Mine

Robex Resources Inc. announced that the work to restart the Nampala mine will be able to begin. As of now, equipment orders will be undertaken under the supervision of the Soutex, with the support of the manufacturer, Imagri. The elution system that posed difficulties will be replaced during the construction by an efficient system. It is expected that the mine production will resume with a daily processing volume of 4,000 tons/day initially and 6,000 tons/day as soon as possible; which is a very significant increase in production compared to last year's plan, which was 2,800 t/d.

Robex Ressources Inc. Suspends Operations in Nampala

Robex Ressources Inc. is suspending their operations at the Nampala mine for an undetermined amount of time. Considering, that new capital investments are necessary to make changes to the Nampala mill, the time for fabrication, delivery and installation of necessary equipment for a profitable operations of the Nampala mine, the decrease in the price of gold and the risks and costs of surcharges related to geopolitical and health risks including the proximity of Ebola outbreaks, Robex's Board of Directors decided, during a special meeting of the Board of Directors, held on October 7, 2014, to suspend ore extracting activities in the Nampala pit. Robex will thus reduce the local and expatriates workforce to a minimum at the Nampala mine. The Company's Board of Directors relied on recommendations from an independent expert report performed by the consulting firm Soutex Inc. which concluded that material changes have to be made to the mine installations to ensure profitability. The suspension of activities is necessary to preserve the mineral resources, reduce fixed costs and implement the action plan and recommendations of the expert report which aims to increase production to 4,000 t /d initially and 6,000 t /d at a later stage. Several changes to the Nampala mill are recommended including replace the elution circuit for a Zadra type system under pressure, add a ball mill to process the coarse ore and add two to four CIL tanks, increase water resources, Change certain pieces of equipment such as the vibrating screens ahead of the rubbler. The proposed improvements represent investments of around CAD 12 million. In order to make these improvements and achieve the goal of 4,000 t /d Robex is currently seeking funding. During the period that the activities are stopped, the Malian employees and expatriate team will be laid off except for the teams necessary to ensure the maintenance of the premises and equipment as well as the security of the site. However, Robex will continue to operate the gold room to extract the gold accumulated in the carbon from the CIL tanks. The activities at the head office in Quebec are maintained and employees remain in office. Robex's Board of Directors also approved the creation of a revitalization committee with a mandate to prepare a recovery plan and business continuity during the period of suspension of operations at the mine. The revitalization committee must report to the Board no later than October 24, 2014 to determine how the upgrades planned and ongoing operations could be funded and to identify new sources of capital.


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