Nikolay Tomov
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Robex Resources Inc. Stock (CVE:RBX), (PINK:RSRBF) Is Climbing Towards Its Three-year High

by Nikolay Tomov Apr 12, 2011
The stock of Robex Resources Inc. (CVE:RBX), (PINK:RSRBF) has started to climb again on the Canadian market, aiming at its three-year high of $0.24, where it was in early March. The current rise is probably driven by several positive company announcements released this month. Yesterday, the progress of the shares was confirmed by the large trading volume, beating almost four times the average.

Robex_-_Logo.jpgOn Monday, RBX gained another 2.56%, finishing precisely at $0.20 and marking a peak of $0.21 during the day. As mentioned, the stock is currently not very far from its three-year high of $0.24. What is better, yesterday's rise was accompanied by a huge turnover of 2.33M shares. It represents a 477% increase over the volume realized within the previous session on Friday.

Robex_-_Chart_-_12_Apr_2011.jpgWhat might be the reason for this volume spike and for the advance of the stock? Possibly, the latest April company announcements have caused the stir. Maybe, they have met investors' approval and hence the surge of the shares.

For sure, the company has the approval and the gratitude of the Mali people, at least of those that inhabit the villages of Nampala and Djikouna. Last Wednesday, Robex informed about gifting two potable water drills to the residents of the two villages. With this infrastructure the company is attempting to improve the living conditions of the local people. A video of the event might provide you with additional important details.

This initiative comes as no big surprise, having in mind that one of the main projects of Robex is the Nampala deposit in Mali. As the company claims, the property contains not less than 290,000 oz indicated gold and 419,000 oz inferred gold. Yesterday, Robex disclosed promising results from its reverse circulation drilling campaign on Nampala.

In late March, the company announced the commencing of a new diamond drilling campaign on the Mininko permit at Nampala. Having in mind the importance of the deposit for Robex, the company's policy to earn the trust of the local Nampala residents seems very smart indeed.

Fortunately, the company has no long-term debt and managed to successfully complete a $3M financing in late February. Are these funds enough, however?

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