Xtract Resources plc Manica Alluvial Update (7010R)
25 September 2017 - 7:44PM
UK Regulatory
TIDMXTR
RNS Number : 7010R
Xtract Resources plc
25 September 2017
25 September 2017
Xtract Resources Plc
("Xtract" or the "Company")
Manica Alluvial Update
The Board of Xtract Resources Plc ("Xtract" or the "Company") is
pleased to provide a further update on the Manica alluvial mining
contractors' progress towards operations commencing on the Manica
concession.
Highlights
-- Omnia Mining have deposited approximately 25,000 tonnes of
alluvial materials on the plant stockpile ready for processing
-- Omnia Mining have pre-stripped a considerable amount of
overburden in advance of the alluvial face
-- Process Plant is in position and all items have been run and
tested. A single water pipeline remains to be installed
-- Sino Minerals have exposed a considerable amount of alluvial
materials prior to their extraction
-- Sino Minerals are approaching their commitment by the
installation of three smaller plants. All of these plants are on
site and will be assembled over the coming weeks
-- Some revenue expected for September 2017, with rapid build-up
from both contractors during October 2017
Colin Bird, Chairman said: "I am pleased to be able to report
that both contractors are aggressively pursuing their production
goals. September 2017 should see Omnia Mining in production with
Sino Minerals commencing production mid-October 2017. Unlike a hard
rock operation, an alluvial operation demands less complex start up
procedures and I am hopeful for steady state production by the end
of October 2017.
During the recent weeks a number of new initiatives have been
initiated and are actively being pursued. The thrust of these
initiatives is area consolidation, accelerated hard rock production
and re-evaluation of existing exploration sites."
Further details are available from the Company's website which
details the company's project portfolio as well as a copy of this
announcement: www.xtractresources.com
Photographs will be added to the Company's website as the
project develops.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014 on market abuse.
Enquiries:
Xtract Resources Colin Bird, Executive +44 (0)20 3416
Plc Chairman 6471
Michael Cornish
Roland Cornish +44 (0)207628
Beaumont Cornish Felicity Geidt 3369
Email: corpfin@b-cornish.co.uk
+44 (0)207 382
Beaufort Securities Jon Belliss 8300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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