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Robex Resources has Obtained a Loan in the Amount of $11.5 Million with a Globally Renowned Banking Group


QUEBEC CITY, Aug. 30, 2018 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" and / or "the Company") (TSXV: RBX / FWB: RB4) is pleased to announce that we have obtained bank financing from the group BNP PARIBAS in the amount of $11.5 million (CAD) bearing interest at the rate of 7% annually.

This loan will be used to repay the convertible debentures that matured on July 1st. As a result, 71,050,000 conversion rights related to these debentures will no longer be in effect, which significantly decreases the potential dilution. In addition, this loan is repayable over four years, and will reduce the financial burden of the Company because the convertible debentures bore interest at a rate of 10% annually.

The latter will also be used to repay the interest accrued on the convertible debentures maturing in November.

Results for the second quarter of 2018


All amounts are in Canadian dollars.

Highlights for the second quarter of 2018
(Compared to the same period in 2017)


    Gold production of 11,716 ounces (364.4 kg) compared to 8,965 (278.8 kg) ounces for the same period in 2017     

    Gold sales of $19.4 million compared to $15.2 million for the same period of 2017  

    Net income attributable to equity shareholders1 of $4.8 million or $0.008 per action1 compared to $2.8 million or $0.005 per action1 for the same period in 2017

    Cash flows from operating activities2 of $8.3 million or $0.014 per action1 compared to $2.8 million or $0.012 per action1 for the same period in 2017

    Decrease in the Company’s liabilities of $3 million compared to March 31, 2018     

    Increase in value to the shareholders (book value) of $2.4 million compared to March 31, 2018

Mining operation: Nampala, Mali

      Second quarters
ended June 30,
      First halves
ended June 30,
  2018   2017   2018   2017  
Operating Data        
Ore mined (tonnes) 448,974   379,720   940,316   650,441  
Ore processed  (tonnes) 436,224   381,973   881,450   741,918  
Waste mined (tonnes) 819,691   615,750   1,867,561   1,232,317  
Operational stripping ratio* 1.8   1.6   2.0   1.9  
Head grade  (gpt) 0.94   0.77   0.93   0.85  
Recovery (%) 86.3 % 85.9 % 85.1 % 85.9 %
Gold ounces produced 11,716   8,965   23,705   16,735  
Gold ounces sold 11,481   8,987   23,470   16,535  
Financial Data        
(rounded to the nearest thousand dollars)        
Revenues – Gold sales 19,376,000   15,207,000   39,949,000   27,613,000  
Mining operation expenses 6,226,000   4,941,000   13,199,000   9,660,000  
Mining royalties 630,000   363,000   1,302,000   657,000  
Administrative expenses 1,569,000   1,480,000   3,117,000   2,296,000  
Depreciation of property, plant and equipment and amortization of intangible assets 2,918,000   1,940,000   5,824,000   3,537,000  
Segment operating income 8,033,000   6,483,000   16,507,000   11,463,000  
(in Canadian dollars)        
Average realized selling price per ounce 1,688   1,692   1,702   1,670  
Cash operating cost per tonne processed3 14   11   14   12  
Total cash cost per ounce sold3 597   590   618   624  
All-in sustaining cost per ounce sold3 921   872   971   905  
Administrative expenses per ounce sold 137   165   133   139  
Depreciation of property, plant and equipment per ounce sold 254   216   248   214  

ROBEX’S MD&A and the consolidated financial statements are available on the Company's website in the Investors section at: These reports and other documents produced by the Company are also available at

Annual General Shareholders' Meeting

Robex Resources Inc. held their annual general shareholders meeting on June 7, 2018 in Quebec City.

At this meeting, the following directors were re-elected for a one-year term: Mr. Georges Cohen, Mr. Julien Cohen, Mr. Benjamin Cohen, Mr. Richard Faucher, Mr. Michel Doyon, Mr. Claude Goulet and Mr. Christian Marti.

Mr. Georges Cohen and Mr. Richard Faucher were elected by the directors of the Company respectively as President and Vice-president of the Board of Directors. In addition, the following directors were re-elected as members of the Company's audit committee for a one-year term: Mr. Julien Cohen, Mr. Michel Doyon and Mr. Claude Goulet.

Robex Resources Inc. shareholders voted in favor of the appointment of PricewaterhouseCooper LLP / s.r.l / s.e.n.c.r.l., who will be responsible for the audit of the Company's financial statements for the year ended December 31, 2018.

For information:

Ressources Robex Inc.
Guillaume Emond, CPA, CMA, VP Admin
Augustin Rousselet, CFO et COO
Head office : (581) 741-7421

This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex’s management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1 Adjusted net income attributable to equity shareholders and operating cash flows per share are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, on page 28.

2 Cash flows from operating activities exclude changes in non-cash working capital items.

3 Cash operating cost, total cash cost and all-in sustaining cost are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS Financial Performance Measures" section of the MD&A, on page 28.

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