Robex: Q4 2022 Operational Results

QUEBEC CITY, Feb. 14, 2023 (GLOBE NEWSWIRE) — Robex Resources Inc. (“Robex “, “the Group” or “the Company“) (TSX-V: RBX) today announced its operating results for the fourth quarter of 2022.

For the twelve-month period ended December 31, 2022, production reached 46,651 ounces, stable (+0.2%) compared to the comparable period of 2021.

Due in particular to exceptional rainfall and the events of December 2022 was more difficult than the previous year, resulting in production slightly below the guidance of 50,000 ounces.

The commissioning of the new trommel and the higher feed content (0.82g/t compared to 0.79g/t for the same period in 2021) did not fully compensate for the difficulties of the year. On the other hand, we were pleased to see that the mine managed to break its production record by processing more than 8,000 tons in one day.

Gold production for the quarter ended December 31, 2022, was 11,252 ounces, a decrease of 16.5% compared to the comparable period of 2021 (13,471 ounces in the quarter ended December 31, 2021).

The decrease in production is mainly due to the events of December 15, which temporarily led to the halt in production (2 days). Production was also impacted by a shutdown in October due to a minor failure on the scrubber and the commissioning of a new cell of the TSF.

A new production and cost guidance will be communicated when the annual financial results are published.

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This news release contains statements that may be considered “forward-looking information” or “forward-looking statements” under security law. This forward-looking information involves risks and uncertainties, some of which are beyond Robex’s control. Outputs and final results may differ significantly from implicit or explicit forecasts. These differences can be due to many factors, including volatile metal market prices, the consequences of exchange rate and interest rate fluctuations, inaccurate resource valuation, environmental risks (tighter regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government policies or regulations (laws and policies), inability to obtain necessary permits and approvals from government agencies, or any other risk related to mining and development. There can be no assurance that the circumstances contemplated by these forward-looking statements will arise or benefit Robex in the event of such forward-looking statements. Forward-looking information is based on the estimates and opinions of Robex’s management team at the time of publication. Robex undertakes no obligation to make public any updates or changes to these forward-looking statements, whether as a result of new information, events or otherwise, except as required by securities laws. Neither TSX Venture Exchange nor the Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the currency or accuracy of this release.