logo-loader

Xtract Resources CEO says Chepica re-opening is “imminent”

Published: 16:08 03 Feb 2016 GMT

Lower grades knocked revenues at Xtract Resources’ (LON:XTR) Chepica gold mine in the three months to end December despite a rise in the amount of ore processed.

Mill grades were 40% lower than expected at 1.65 g/t and 8% below the previous three months, hitting the results, but chief executive Jan Nelson told Proactive: “We have a good idea of what we think the problem is and we will address it in the coming quarter.”

Revenue was 16% below the previous quarter at US$375,000, but profits rose by 39% to US$208,000 due to its cost-cutting measures and because the company “overachieved in terms of our volume” Nelson said.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

1 hour, 17 minutes ago