Auroch Shareholders approve sale of Manica

RNS Number : 3441C

Xtract Resources plc

15 October 2015

 



15 October 2015

Xtract Resources Plc

("Xtract" or "the Company")

Auroch Shareholders approve sale of Manica

Xtract Resources Plc (AIM: XTR), the gold and copper mining and development Company with projects in South America and South Africa, announces that, further to the notification by the Company on 10th September 2015, Auroch Minerals NL ('Auroch') today held a general meeting at which Auroch's shareholders approved the disposal of 100% of the Manica gold project ("Manica") to Xtract (the "Transaction").

Completion of the Transaction remains subject to the Company obtaining the necessary approvals under the Mozambique Mining Act and other applicable laws relating to the change of control of Auroch Minerals subsidiary and communicating such change of control to the Mozambican mining authorities ("Completion").

Jan Nelson, CEO, commented "We are pleased to have received approval from Auroch shareholders and look forward to the relevant approvals being granted by the Mozambican mining authorities.  We continue to advance negotiations with regard to the project finance as part of the final completion of this exciting acquisition."

Enquiries: 

Xtract Resources Plc	Jan Nelson, CEO	[phone]
Cenkos Securities plc	Derrick Lee Nick Tulloch	[phone]
Beaufort Securities	Jon Belliss	[phone]
St James's Corporate Services	Phil Dexter	[phone] [phone]
Gable Communications	Justine James [e-mail]	[phone] [phone]

 

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