Member Info for Andrew4444

30 May 2024

Xtract Resources Plc

("Xtract" or the "Company")

Additional Zambian Joint Venture Exploration Licences

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that the Company has on 29 May 2024 entered into an addendum to restate the existing joint venture agreement with Cooperlemon Consultancy Limited ("Joint Venture Agreement") in relation to the exploration for copper in Zambia as previously announced on 24 August 2023. The addendum adds three additional large scale exploration licenses in Northwest Zambia (the "Additional Licences") to the joint venture.

Highlights

· The existing joint venture is in relation to large scale exploration licenses 29123-HQ_LEL and 30459-HQ-LEL in Northwest Zambia (the "Original Licences").

· The Additional Licences and the Original Licences are:

- located within the Western Foreland geological district that hosts the Kamoa - Kakula deposit and the Central Fold and Thrust Belt ("Fold Belt") in northwest Zambia.

- all in a highly prospective part of NW Zambia where competition for exploration licences is acute and in aggregate form a combined area over the five licences of 173,586 hectares

· The Company believes there is scope for the discovery of potentially high-grade Kamoa-style mineralisation at depth and lower grade bulk tonnage at or near-surface.

· There has been limited exploration to date on the Additional Licences and initial fieldwork will commence early in the second half of the year with a view to defining potential drill targets as soon as possible.

Colin Bird Executive Chairman said:

" It is no secret that I am enthusiastic on both copper and Zambia as a mining jurisdiction. We are therefore very pleased that we have been able to add the three Additional Licences to Xtract's joint venture with Cooperlemon particularly given that they are adjacent to one of our original joint venture licences with Cooperlemon. All the joint venture licences are well situated within the Western Foreland geological district that hosts potential Kamoa style mineralisation as confirmed by recent exploration and drilling on nearby licences. It is our intent to commence field work on the three additional licences with the objective of identifying potential drill targets for Kamoa style mineralisation and also for Kolwezi style mineralisation which has the potential for near surface copper and possibly cobalt mineralisation. We look forward to updating the market on exploration activities."

Restated Agreement

The restated joint venture agreement with Cooperlemon Consultancy Limited ("Cooperlemon") is in relation to the exploration for copper at the Original Licences and the Additional Licences in Northwest Zambia (together the "Licences"). Under the restated joint venture agreement (the "Restated Agreement"), Xtract has agreed the following additional key terms in addit

If 50% of a group's understanding is different to the other 50%, then you can say its down to "interpretation".

If 99% of a group understanding is all the same , but wrong , then that is down to the message being deliberately misleading .......or worse.

HZ I think you've missed your vocation. You should have been a politician with your spin ! You would be PM in no time :).

"You make out a higher copper price is required to save the project when in reality it was always a requirement."

Disagree.

In many interviews CB talked about the viability of the project and he mentioned POC at $8K $9K and $10K he gave the impression (as good as stated) that we would be profitable at $10K or less.

That is not the case and he never ever gave the impression that we would need a POC higher than current $10.5K so "save the project" or make it viable

"Where is the value going to come?" ...A MUCH HIGHER POC

" What's the end game?" ...WAIT UNTIL POC ABOVE $13k AND SELL BR

" Is there even a strategy to get shareholder value" .....WAIT UNTIL POC MUCH HIGHER

"how does colin plan to get the share price back to 6p?.... SEE ABOVE :)

" So many things CB has said are widely open to interpretation."

Come off it HZ. His comment's below were not left to any interpretation !

CB should have given you the PR role not Alistair Ford :)

1. I'm not worried about the grades we know we have them. Then changes that to " The grades fell away"

2. We were biting our nails re the 2mt but now we have the ascot discovery we dont need to bite them anymore. Announces 1.3 mt

3. This is a tier 1 asset then at an AGM 18 months later said its hopeful going to be a tier 1 asset.

4. Saying if they offer me 10p I'll tell them to stick it.

5. The buy out wont be a death by a thousand lashes in April 22...over 2 years later nothing

HZ

It was reported last year that the relaxing of the usual timelines and rules on reporting were now back to normal, so I assume AGM by end of June

Thanks

We should get RNS with final results and AGM calling notice in the next week.

AGM is usually last week in June so may be CB will give us some good news / update soon??

If that ever happened you would get demand destruction.

Silver is the best conductor of electricity but there is a good reason why all wiring is not made out of silver :)

I'd be very happy at a POC of $14 to $15K. That would float all boats and still be at a price that means it will be used.

Https://www.investing.com/commodities/copper

Well $11K by July !

What by December??

It takes a slight pull back then ........zoom again ! I think we need $12K + before anyone wants BR but that looks highly likely / inevitable

We can all apologise to CB when he sells it for over 10p next year :)

I think Antibacterial may be correct and the market may need more details via PFS.

That will remove any doubt.

AIMHO

I said yesterday AIM could be a bit strange at times and today seems a good example !

Really surprised we are not in the 30s at least after the news

I can only assume there are still many many traders here who sell en masse into a decent rise??

Hopefully we will get more news before AGM and more holders will have sticky fingers??

For accuracy, I should have said in suspension and they are considering options available to them, which may include the Board deciding to appoint administrators to the Company.

so not a great share tip :)

They are getting a lot of flack over at BEN. They have been ramping BEN up for some time and it's now gone into administration today

As I said recently, they are just as bad as CB, but it appears they are now getting found out ...

As has been stated here before, the roast boys get paid to promote companies so its not unbiased independent analysis .

Paddy

Sp is only down due to U/T trade yesterday pushing sp up 10%. As soon as the market opened that was corrected with a 10% fall.

SP has been flat all week tbh

As for not selling when sp was x5 higher? Why would you or anyone do that? After all the sp was going much much higher after the buy out wasnt it??

Wasnt it CB??

:)

Not everyone is gong to be happy about this deal. Especially those who sold out after losing patience and belief and are now thinking....... oh s@%t I shouldn't have sold :)

Seems to be a few like that on ADVFN !

Well done all LTH who stuck by this one. And anyone who is under water should make a decent profit now (I would think).

I've only been here 8 months and its been a bit stressful even for a newbie like me, so it must have been a lot more emotional for the LTHs :)

AIM market is a bit strange at times but surely it will react accordingly tomorrow !

40p a few months ago when there was rumour of bond financing so what? 50p tomorrow??

Who knows? But it should be fun finding out tomorrow :)

What is disgusting is CB saying to shareholders re BR:

1. I'm not worried about the grades we know we have them. Then changes that to " The grades fell away"

2. We were biting our nails re the 2mt but now we have the ascot discovery we dont need to bite them anymore. Announces 1.3 mt

3. This is a tier 1 asset then at an AGM 18 months later said its hopeful going to be a tier 1 asset.

4. Saying if they offer me 10p I'll tell them to stick it.

5. The buy out wont be a death by a thousand lashes in April 22...over 2 years later nothing

What really gets me is that he doesnt accept any responsibility that when reality met his comments the sp fell.

Apparently, It is nothing to do with his BS forward guidance, just external economic macro factors ! 5% of that is probably true but 95% of the fall is down to him

"If CB falls off the perch God forbid, what will that do for "his" companies ?"

Probably a share re rate :)

Traders are all over this as its a yoyo share, but the risk is they will get caught out when news drops in next week or month .....6 months? Who knows?

I'm not taking that risk so happy to hold and watch the ups and downs

Records broken

keeps going vertical !!

https://www.investing.com/commodities/copper

https://www.forexlive.com/news/copper-prices-hit-a-record-breaking-5-per-pound-for-the-first-time-20240514/