Zincox Resources (#ZOX) – no transaction done sees share cancellation

ZincOx – failed fundraising, delisting mooted. Cheese’n’Onion or Salt’n’Vinegar, anyone?

This morning AIM-listed ZincOx Resources (ZOX) produced a calamitous RNS. A failed funding round (for $5 million) means that 90% of its erstwhile wholly-owned subsidiary ZincOx Korea Ltd is to be handed over to Korea Zinc or – at Korea Zinc’s request – a loan by Korea Zinc will be converted in an eye-watering debt-for-equity shareholder dilution to leave ZincOx shareholders with just 10% of the equity. And there could be more dilution as ZincOx Korea is loss-making: any further funding to keep the lights on at the plant will come from Korea Zinc which will increase its ownership in proportion. Even after this ZincOx looks to be in dire straits and is now considering delisting. In short, this is a trainwreck. Time for one of Tom Winnifrith’s bags of Walkers – or will it be just Tesco Value?

Zincox (#ZOX) fails to raise $5m so loses 90% of Korean asset and - out of cash - looks pretty fucked all round

SP Angel Morning Mining note: Aureus Mining, BHP Billiton, Petra Diamonds, ZincOx, Scotgold Resources

John Meyer of SP Angel this morning comments on Aureus Mining (AUE), BHP Billiton (BLT), Petra Diamonds (PDL), ZincOx (ZOX) and Scotgold Resources (SGZ) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond. 

Zincox Resources (#ZOX) - Gross proceeds from fundraising equal £3.1million

ZincOx taps the market: speculative recovery buy

Zinc waste recycling specialist and long-term AIM dog ZincOx Resources (ZOX) is seeking £3.2 million in a placing and open offer at 13p to improve the performance of its flagship recycling plant in Korea and develop new projects following a drastic improvement in operating results there. Indefatigable chief executive Andrew Woollett, who is contributing to the fund raising, says the £2.1 million placing should enable the company to remove bottlenecks at the Korean plant, which is claimed to be one of the largest electric arc furnace dust facilities in existence, while he hopes the £1.1 million open offer will ‘allow us to press ahead with pre-development work for our next project and so begin to unlock the potential for rotary hearth furnace technology.’

ZincOx Resources (#ZOX) - Wants to raise £3.2million through conditional placing and open offer

Zak Mir's Great Request Show: Galantas Gold, Tek Capital, Zincox Resources.

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at Galantas Gold (GAL), Tek Capital (TEK), Zincox Resources (ZOX).

Zak Mir's Great Request Show: Bank Of Georgia, Cadogan Petroleum, Zincox

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at Bank Of Georgia, Cadogan Petroleum, Zincox.

SP Angel Morning Mining note: Aurum Mining, ZincOx Resources, Savannah Resources

In a cutting mood today, John Meyer of SP Angel this morning comments on Aurum Mining, ZincOx Resources and Savannah Resources as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond. 

Zincox Resources (ZOX): Reverse H&S Reversal Implies 35p Target

There are some charting setups you have to look around a long time for, and even then they do not necessarily offer the payoff which may have been expected.

Buy Zincox (ZOX): Target 28p Initially, But As High As 37p

Stakebuilding has caused Zincox to rebound sharply in recent days, although the sharpest price action has come in today with an unfilled gap to the upside. The question at this point is whether the rebound is sustainable and if so, how much upside may be left?