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Xtract hails Manica project as "world-class, low cash gold producer"

Jan Nelson, chief executive officer at Xtract Resources (LON:XTR), the gold and copper exploration and development company, shares the reasons behind the acquisition of the Manica gold project in Mozambique with Proactive Investors after the company received the government's green light for the deal.

Nelson argues Manica is a "world-class, low cash gold producer" that transforms Xtract into a mid-tier gold producer with a lot of flexibility and the cashflow needed to help fund future growth.

He says the company is well on track to achieve the initial bankable feasibility study at the end of the second quarter of 2016.

 
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