Sign up United Kingdom
Xtract Resources PLC (LON:XTR)

Xtract Resources PLC (LON:XTR)

Share Price
1.03 p
0 (0.00 %)
Market Cap
£3.59 m
Proactive Investors - Run By Investors For Investors

Xtract Resources PLC RNS Release

Manica Alluvial Update

RNS Number : 7010R
Xtract Resources plc
25 September 2017



25 September 2017


Xtract Resources Plc

("Xtract" or the "Company")

Manica Alluvial Update


The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide a further update on the Manica alluvial mining contractors' progress towards operations commencing on the Manica concession.




·    Omnia Mining have deposited approximately 25,000 tonnes of alluvial materials on the plant stockpile ready for processing


·    Omnia Mining have pre-stripped a considerable amount of overburden in advance of the alluvial face


·    Process Plant is in position and all items have been run and tested.  A single water pipeline remains to be installed


·    Sino Minerals have exposed a considerable amount of alluvial materials prior to their extraction


·    Sino Minerals are approaching their commitment by the installation of three smaller plants.  All of these plants are on site and will be assembled over the coming weeks


·     Some revenue expected for September 2017, with rapid build-up from both contractors during October 2017


Colin Bird, Chairman said: "I am pleased to be able to report that both contractors are aggressively pursuing their production goals.  September 2017 should see Omnia Mining in production with Sino Minerals commencing production mid-October 2017.  Unlike a hard rock operation, an alluvial operation demands less complex start up procedures and I am hopeful for steady state production by the end of October 2017.


During the recent weeks a number of new initiatives have been initiated and are actively being pursued.  The thrust of these initiatives is area consolidation, accelerated hard rock production and re-evaluation of existing exploration sites."


Further details are available from the Company's website which details the company's project portfolio as well as a copy of this announcement: 


 Photographs will be added to the Company's website as the project develops.


This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse.



Xtract Resources Plc

Colin Bird, Executive Chairman


+44 (0)20 3416 6471


Beaumont Cornish

Michael Cornish

Roland Cornish

Felicity Geidt

+44 (0)207628 3369

Email: [email protected]


Beaufort Securities

Jon Belliss


+44 (0)207 382 8300


This information is provided by RNS
The company news service from the London Stock Exchange

Xtract Resources PLC Timeline

© Proactive Investors 2018

Proactive Investors 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.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use