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Xtract sees first gold poured at Manica

Chinese contractor is now pouring gold at Xtract's Manica gold project in Mozambique

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Gold production is underway at Manica

Sino Minerals, a contract miner working on the Manica gold project owned by Xtract Resources PLC (LON:XTR) produced a total of 6.287 kg of tax-paid gold in October and November.

This gold is now available for dispatch to the South African refinery, with 40% attributable to Xtract and 60% to Nexus Capital Limited under the Collaboration Agreement signed on 20 June, 2017.

The approximate gross value is US$230,000, while the value net to Xtract is approximately US$92,000.

"The period ended 30 November 2017 was a start-up period for our contractors resulting in stop-start operations and plant fixing,” said Xtract chairman Colin Bird.

“We are encouraged by this initial result and perceive further alluvial and hard rock opportunities emerging at the Manica site".

 

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