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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
 Xtract sees first gold poured at Manica
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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Xtract Resources PLC Timeline

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