Gediminas Jasionis
0 Vote 0

Robex Resources Inc. (CVE:RBX) Remains On A Steady Rally

by Gediminas Jasionis Sep 18, 2011
rbx_chart.pngRobex Resources Inc. (CVE:RBX) rallied upon announcement of an operational update. The stock has been reaching for new with the latest rally.

RBX jumped 9.4% on Friday though there was no new catalyst in support. The trading volume was nearly 1.2 million, three times the average of 456 thousand. RBX stock has been going up since Monday, Sep 12 and added nearly 32% over the period. The share price is approaching the 52-week high of 34 cents, and the last resistance remaining in between is around 30 cents.

Last Monday the company announced results of their core drilling campaign on Nampala property. A bore hole of 300 meters revealed a potential extension to the south of the existing zone. The latest survey showed an average grade of 0.57 g/t over 100.5 meters with some places returning up to 2.18 g/t gold mineralization.

robex_logo.jpgMeasured, indicated and inferred resources calculations will have to be adjusted accordingly and should be available anytime. A feasibility study is also approaching completion, lacking only a report with defining mining issued related to usage of 5 thousand tons a day cyanide processing plant.

Robex Resources is a junior exploration and development company from Canada. The firm holds nine mining permits in Mali, western Africa.

Comments (0)

Type the characters that you see in the box (5 characters).

This is a captcha-picture.