Xtract Resources PLC (LON:XTR) is all set for first alluvial mining to commence at the Manica project in Mozambique by the end of this month.
Following the signing of a contractor agreement with Omnia Mining Ltd on 19 June and with Sino Minerals Investment Limited 11 July, almost all of Omnia’s equipment is now on site and being installed.
In addition, Sino Minerals has paid its first initial payment, which was a condition of allowing it to set up.
"Omnia Mining and Sino Minerals are aggressively pursuing development of the proposed mining operations on our Manica gold property,” said Xtract chairman Colin Bird.
“The work to date gives us confidence that operations will start on or before time and that the two operators are competent in this type of mining. We continue to pursue various financing and development proposals for the hard rock propositions."