Proactive Investors - Run By Investors For Investors
Market: AIM
52-week High/Low: 0.49p / 0.07p
Sector: General Mining
Market Cap: 11.77M
Phone: +44 (0)20 3416 6471
Address: 4th Floor, 2 Cromwell Place, South Kensington, London SW7 2JE.
Xtract Resources

Xtract Resources

Xtract Resources is a gold and copper exploration and development Company with projects in Chile and South Africa. At Chépica, the management team is focussed on creating mining flexibility in order to deliver consistent production, cash flow and profits. At O’Kiep in South Africa, the focus is on the work programme in order to carry out drilling and metallurgical test work to confirm the economic potential of this Copper tailings project.

Deal XTR Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Xtract Resources

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in Xtract Resources

Xtract Resources Snapshot



From the appointment of the new management team in 2013, the strategy to become a diversified mining house with positive cash flow has been achieved and the team is striving to further build on this growth in order to transition into a mid tier Gold and Copper producer.

     • Xtract has two current projects:
          • Chépica - gold & copper deposit in Chile with production and cash flow
          • O’Kiep – a sulphide copper tailings project in South Africa

     • Focus remains on low cost, high margin shallow/surface deposits, mitigating against commodity price fluctuation risk

     • Smaller asset size requires lower capital injection/risk and management focus

     • Asset criteria – generate US$10m to US$30m profit per annum

     • High quality management team with a track record of creating value for shareholders

     • Management team led by former Pan African Resources CEO Jan Nelson who has over 15 years of mining expertise, with a strong track record of delivering shareholder value


The Right People

Xtract aims to source talented individuals who can contribute at board and senior management levels, and who have the necessary qualifications, experience, enterprise and motivation to develop and grow early stage assets and businesses. Xtract expects to maintain a small core executive management team on a full time basis and to use its wide network of industry associates to access the necessary skill sets and experience required on a part time or when required basis. Where specific expertise is needed, acknowledged expert consultants are retained. Xtract seeks to develop relationships with internationally recognised industry partners who are best placed to progress early stage assets and businesses along the value chain.


Chépica Gold & Copper Mine at a Glance

  • Producing 4,000t/month from central part of mine
  • Excellent infrastructure & support network
  • Major mining, processing & treatment infrastructure in place
  • Underground development accelerated to increase mining flexibility
  • Restructuring at the mine has improved operating efficiencies and lowered costs
  • Salvadori prospect discovered which will increase mining flexibility and positively impact on grade
  • Profitable from April 2015


O’Kiep & Carolusberg Copper Tailings Project at a Glance

  • The Carolusberg and O'Kiep tailings dams contain 33.8Mt of sulphide tailings material on surface that was mined between 1980 and 2010 by O'Kiep Copper Company
  • Carolusberg tailings dam represents 28Mt of material grading at 0.19% Cu
  • O'Kiep tailings dam represents 5.8Mt of material grading at 0.23% Cu
  • Xtract is initiating a 2,500m drilling programme on the tailings dams in order to define a measured and indicated resource and undertake metallurgical test work to determine mineralogy and recoveries
  • Once the drilling, sampling and metallurgical work is completed, a feasibility report will be commissioned

Board of Directors


Jan Nelson - Chief Executive Officer

After obtaining his Honours degree in Geology, Jan embarked on a career in gold exploration and mining in South Africa, Zimbabwe and Tanzania. He has over 15 years’ experience in the mining industry more recently as CEO of Pan African Resources PLC where he was responsible for transforming the company from an exploration vehicle with little cash resources to a 200,000oz per annum low cost, high grade precious metals dividend paying mining company. Prior to this Jan held positions in mine management and operations with Harmony Gold Mining Company Limited and Gold Fields Limited. Jan Was appointed CEO of Xtract in May 2013.

Colin Bird - Non-executive Chairman

Colin Bird is a chartered mining engineer with multi commodity mine management experience in Africa, Spain, Latin America and in the Middle East. He has been the prime mover in a number of public listings in the UK, Canada and South African and is currently Chief Executive Officer of Tiger Resource Finance PLC, AIM quoted Galileo Resources PLCA and Non-Executive Chairman of Jubilee Platinum PLC.

He has been responsible for founding a number of PLC’s which have achieved mid-cap status and was the founder of Kiwara PLC which discovered the large copper project Kalumbila currently being developed by First Quantum Minerals Ltd. a US$ 11 billion quoted company.

Peter Moir - Non-executive Director

Peter’s qualifications include B.Sc. Civil Engineering and M.Eng. Petroleum Engineering.

He is a Chartered Engineer in the UK and has more than 30 years experience in technical, operational and commercial aspects of the Exploration and Production business.

Joel Silberstein - Finance Director

Joel joined the Company as Chief Financial Officer in June 2013.  Prior to this Joel held the position of Group Controller and Vice President Finance of Toronto Stock Exchange quoted European Goldfields Limited, where he supported the executive team in growing a mining concern from exploration through development phases until the Company was taken over by Eldorado Gold Corporation. He has Honours Bachelor of Accounting Science degree from the University Of South Africa and qualified as a chartered accountant with Mazars, Cape Town in 2002.


Key Management

Eduard Victor - Chief Operating Officer

Eduard has over 20 years experience in mining industry as an accountant to mine manager to CFO. He has been focussing on Gold and Platinum primarily in Africa and South America. Eduard has a proven track record and specialist in Turn-around of mining operations.

Jim Portar - Executive: Mining*

Jim has over 17 years Engineer with 37 years’ operational, project and consulting experience. He has worked for AngloGold Ashanti (1977 to 1997), holding positions including Prod Manager, Senior Project Manager and Mine Manager. He has Chairman and CEO of a Zimbabwe based gold exploration company and President Elect and Honorary Treasurer of the Southern African Institute of Mining and Metallurgy.

Graham Farr - Executive: Processing & Metallurgy*

Graham has 39 years’ experience in the mining industry, over 25 years in design. He is a Senior Process Consultant and Managing Director of Outsourced Plant Solutions (Pty) Ltd - the planned plant operating component of TWP/Basil Read. His background covers studies and design of Refractory and Non-refractory Gold plants globally. Flotation, solid liquid separation and Sulphide Oxidation forming part of this experience.

* Principal Consultants to the Company and members of the Technical Committee that advises the Board

As at 08 August 2014 the Company has been notified or is aware of the following significant holdings (over 3%) of voting rights in its shares:

Information taken from company website 17.09.2014

Xtract Resources Plc Registered address:

4th Floor 

2 Cromwell Place

South Kensington




T: +44 (0) 20 3416 6471

F: +44 (0) 20 7589 7806

E: [email protected]


Company Secretary:

Phil Dexter

St James’s Corporate Services Limited 

Suite 31, 2nd Floor, 107 Cheapside




T: +44 (0) 20 7796 8644

e-mail: [email protected]

Nominated Advisor & Brokers:

Cenkos Securities Plc

6,7,8 Tokenhouse Yard



T: +44 (0) 20 7397 8900

F: +44 (0) 20 7397 8901

E: [email protected]




Fasken Martineau LLP

17 Hanover Square   



T: +44 20 7917 8500

F: +44 20 7917 8555

E: [email protected]




Crowe Clark Whitehall

St. Bride's House

10 Salisbury Square

London, EC4Y 8EH 

T: + 44 (0) 20 7842 7100

F: + 44 (0) 20 7583 1720

E: [email protected]





2nd Floor

180 Brompton Road



SW3 1HL  



Capita Asset Services

The Registry, 34 Beckenham Road

Beckenham, Kent


T: +44 (0) 871 664 0300 (calls cost 10 pence per minute plus network extras)

The Share Portal can be accessed at



Public Relations:

c/o: Justine James

Gable Communications Limited

34 Lime Street



T: +44 (0) 20 7193 7463

Email: [email protected]


Investor Relations:

c/o Phil Dexter

St James’s Corporate Services Limited

Suite 31, 2nd Floor, 107 Cheapside



T: +44 (0) 20 7796 8644

Xtract Resources Timeline



Market Reports




© Proactive Investors 2015

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.