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Xtract updates on Manica Concession progress

By BFN News | 01:58 PM | Wednesday 06 December, 2017


Xtract Resources has announced, in respect if the Sino Mineral's initial start-up operations on the eastern half of the Manica Concession, a total of 6.287 kg of tax-paid gold on hand for October and November. This is said to be available for dispatch to the South African refinery (attributable 40% to Xtract and 60% to Nexus Capital under the Collaboration Agreement signed on 20 June, 2017). Other highlights: - Dore bars approximately 94% gold by value - Approximate gross value of $230,000 to Xtract and Nexus - Net value to Xtract is approximately $92,000 - Xtract expects that Alluvial gold production will now increase on a monthly basis Colin Bird, Executive Chairman said: "The period ended 30 November 2017 was a start-up period for our contractors resulting in stop-start operations and plant fixing. We are encouraged by this initial result and perceive further alluvial and hard rock opportunities emerging at the Manica site". At 1:58pm: (LON:XTR) Xtract Resources Plc share price was -0.28p at 2.9p Story provided by StockMarketWire.com

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