6 Dec 2017 11:43
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For immediate release
6 December 2017
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Xtract Resources Plc
("Xtract" or the "Company")
聽Manica Concession Alluvial Gold Update
First gold poured at Manica
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The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce the results for alluvial miner Sino Mineral's initial start-up operations on the eastern half of the Manica Concession up to the end of November 2017.
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Highlights
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路 A total of 6.287 kg of tax-paid gold on hand for October and November and available for dispatch to the South African refinery (attributable 40% to Xtract and 60% to Nexus Capital Limited under the Collaboration Agreement signed on 20 June, 2017)
路 Dore bars approximately 94% gold by value
路 Approximate gross value of US$230,000 to Xtract and Nexus
路 Net value to Xtract is approximately US$92,000
路 Xtract expects that Alluvial gold production will now increase on a monthly basis
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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".
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Further details are available from the Company's聽website which details the company's project portfolio as well as a copy of this announcement:聽www.xtractresources.com聽
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This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse.
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Enquiries:
Xtract Resources Plc | Colin Bird, Executive Chairman 聽 | +44 (0)20 3416 6471 聽 |
Beaumont Cornish | Michael Cornish Roland Cornish Felicity Geidt | +44 (0)207628 3369 |
Email: corpfin@b-cornish.co.uk 聽 | ||
Beaufort Securities | Jon Belliss 聽 | +44 (0)207 382 8300 |
ENDS