Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

More production underway at Xtract’s Manica gold project in Mozambique

Xtract's drive towards cashflow and self-sufficiency continues apace
More production underway at Xtract’s Manica gold project in Mozambique
Cashflow from alluvial gold mining is central to the proposition at Manica

Omnia Mining, one of the contractors working the Manica mine in Mozambique owned by Xtract Resources PLC (LON:XTR) has now commenced production on the western half of the concession.

The alluvial collaboration agreement was concluded on 18 June 2017 and  provides for monthly payments to Xtract’s wholly-owned Mozambican subsidiary, Explorator Limitada, against monthly-run-of mine performance.

Omnia Mining commenced processing alluvial material through its plant on 11 October 2017.

At this stage, there are 40,000 tonnes of alluvials ready for processing and 30,000 tonnes exposed in pit.

First income is anticipated at the end of November 2017

“We look forward to a stable operation and rapid increase in hourly production to 400 tonnes per hour or more,” said Xtract executive chairman Colin Bird.

  

 

View full XTR profile View Profile

Xtract Resources PLC Timeline

Related Articles

Mustang Resources' Christiaan Jordaan with investors at Proactive's CEO Sessions
October 06 2017
Christiaan Jordaan discussed rubies with investors at Proactive's CEO Session in Melbourne.
Colin Bird
August 29 2017
Xtract Resources is on the cusp of significant cashflow, generated by alluvial gold production from Mozambique
Royal Road Minerals' Nicaraguan ambitions starting to take shape
September 06 2017
Caza, which it has now bought, controlled land in the highly prospective but undeveloped gold belts of Nicaragua

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use