Last checked at 15 Oct 2015 07:31
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
| +44 (0)20 3416 6471
|
Cenkos Securities plc | Derrick Lee Nick Tulloch | +44 (0)131 220 6939 |
Beaufort Securities | Jon Belliss | +44 (0)207 382 8300 |
St James's Corporate Services | Phil Dexter
| +44 (0)20 7796 8647 +44 (0)7798 634398 |
Gable Communications | Justine James xtract@gablecommunications.com | +44 (0)20 7193 7463 +44 (0) 7525 324431 |