Manica Alluvial Update

RNS Number : 4545T

Xtract Resources plc

12 October 2017

 

For immediate release

12 October 2017

Xtract Resources Plc

("Xtract" or the "Company")

Manica Alluvial Update

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that alluvial mining contractor Omnia Mining, has commenced production on the western half of the Manica concession. The alluvial collaboration agreement which was concluded on 18 June 2017, provides for monthly payments to the Company's wholly-owned Mozambican subsidiary Explorator Limitada, against monthly-run-of mine performance.

Highlights

·     Omnia Mining commenced processing alluvials through their plant on 11 October 2017

·     All equipment, processing and mining in place for continuing production

·     40,000 tonnes of alluvials ready for processing and 30 000 tonnes exposed in pit

·     First income anticipated at the end of November 2017

Colin Bird, Executive Chairman said: "I am pleased to report that after having completed all of the process preparation Omnia Mining are now in commercial production. We look forward to a stable operation and rapid increase in hourly production to 400 tonnes per hour or more."

Further details are available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.xtractresources.com 

Photographs will be added to the Company's website as the project develops.

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse.

Enquiries:

Xtract Resources Plc	Colin Bird, Executive Chairman	[phone]
Beaumont Cornish	Michael Cornish Roland Cornish Felicity Geidt	[phone]
	Email: [e-mail]
Beaufort Securities	Jon Belliss	[phone]

 

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