ZincOx Resources places 14.36m shares to expand projects

ZincOx Resources, which treats and recycles EAFD, has conditionally placed 14.36m new shares in the company at 45p each, with the anticipated proceeds to be used to complete the ramp-up of its first recycling plant, KRP1.

ZincOx Resources, which treats and recycles EAFD, has conditionally placed 14.36m new shares in the company at 45p each, with the anticipated proceeds to be used to complete the ramp-up of its first recycling plant, KRP1.

The KRP1, or Korean Recycling Plant, is located in the Cheonbuk Industrial Complex in South Korea.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Andrew Woollett, Executive Chairman of ZincOx, said: "We anticipate that the funds to be raised in this placing will enable us to bring our first recycling plant to full production and then move forward with work on the second plant at the same site in Korea and take first mover advantage to other territories around the world."

NR

MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.