Wildstone towards production on antimonylicences

Xtract Resources plc

05 March 2026

 

5 March 2026

           Xtract Resources Plc

            ("Xtract" or the "Company")

                 Wildstone moves towards production on antimony licences 

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide an update on work completed on the Amghas and Ighoud antimony licences, both former producing antimony mines and the Board's decision to formally approve further investment to specifically fast track towards production at both mine sites. The antimony exploration licences are held by Xtract's 80%-owned venture, Wildstone SARL ("Wildstone").

Since the acquisition of these licences last September, the focus has been on the assessment and development of two former mining licences Amghas and Ighoud and completion of baseline and Environmental Impact Assessments and Feasibility Studies required in order to reactivate these former mining licences. Work has revealed notable antimony mineralisation at both sites. Results are such that the Xtract Board has instructed the on-site team to progress project development initially at Amghas and to complete all necessary steps to take the project to production in the shortest timeframe.

Highlights

·    Clearing of the Amghas site has uncovered an extensive network of underground development providing access to clearly visible high-grade mineralisation (15-40% Sb)

·    Underground sampling has confirmed antimony mineralisation in brecciated wall rock and a potential additional source of future bulk production. Historically mining only recovered visible mineralisation that could be recovered by hand.

·    A mineralised breccia wall rock sample is being collected for dry ore sorting test work. Amenability to dry sorting would potentially a significantly greater tonnage of feed for flotation, producing more antimony in concentrates whilst reducing crushing and milling costs 

·    Successful completion of Independent Phase 1 flotation metallurgical test work. Results confirm the suitability of flotation to produce a saleable concentrate.

·    External metallurgical consultant engaged to produce a final flow sheet and estimated capital expenditure for a centralised float plant situated at Amghas.

·    Front-end gravity test work commissioned to assess the capacity of gravity separation to further improve the final antimony concentrate

·    In-house resource estimation to be completed in tandem with reinstatement of mining status at Amghas.

·    The current mine plan envisages the installation of a flotation plant to produce a >65% Sb concentrate.

Executive Chairman Colin Bird commented: "The presence of mineralisation conducive to standard flotation recovery at both Amghas and Ighoud changes the dynamic of project development. It provides us with a high degree of confidence to speed up mine development based on access to a future revenue stream. The positive metallurgical test work results point towards the development of a flotation plant at the Amghas site to process both Amghas and Ighoud mine production. We will continue our assessment to optimise mine and flotation plant production and associated capital expenditure ahead of finalising a development plan. I look forward to keeping shareholders informed of further progress".

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310). The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Executive Chairman and Director.

Xtract Resources Plc	Colin Bird, Executive Chairman	[phone] www.xtractresources.com
Beaumont Cornish Limited Nominated Adviser and Joint Broker	Roland Cornish Michael Cornish Felicity Geidt	[phone] www.beaumontcornish.co.uk
AlbR Capital Limited Joint Broker	Jon Bellis Colin Rowbury	[phone] www.albrcapital.com
Shard Capital Partners LLP Joint Broker	Damon Heath	[phone]

Qualified Person:

The technical information contained in this announcement has been reviewed, verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK Certified Mine Manager and Director of African Pioneer plc, with more than 40 years' experience mainly in hard rock mining.

Important Notice:

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

 

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