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ZincOx raises £20 million

Article Date:  Jan 21 2008

Fresh from a £61 million funding for its Jabali mine in Yemen, ZincOx Resources has attracted another £20.4 million for zinc recycling.

Headed by mining entrepreneur Andrew Woollett, the AIM-quoted company has raised the money in a placing at 262p, handled by broker Numis, and will use it to develop its business in recycling tailings from old zinc mines by extracting minerals from them.

ZincOx, whose shares were recommended here at 129p in 2005 and have tumbled from last July’s 427.5p high to 267p, recently clinched a £61 million financing deal for its Jabali zinc mining operation in Yemen.

Hold on.


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