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Xtract Resources PLC (XTR.L)

XTR.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Xtract Energy Plc Completes Carolusberg & O'Kiep Drilling Programme
Tuesday, 22 Sep 2015 02:01am EDT 

Xtract Energy Plc:It has completed Phase 1 of its drilling and sampling programme on the Carolusberg and O'Kiep sulphide copper tailings dams in the Northern Cape province of South Africa, located close to the town of Springbok (within a 30km radius).  Full Article

Xtract Energy Plc acquisition of 100% of the Manica gold project
Thursday, 10 Sep 2015 02:01am EDT 

Xtract Energy Plc:Says to announce that it has negotiated revised terms with Auroch Minerals NL ("Auroch") regarding the conditional acquisition of 100% of the Manica gold project ('Manica') in Mozambique.Says Under the terms of the original agreement the number of Consideration Shares issued was to be determined by using the lesser of the VWAP at which the Company's shares traded 10 days prior to Completion and 0.35p.At an assumed Conversion Price of 0.35p the Company anticipated that it would be required to issue Consideration Shares which would result in dilution to existing Xtract shareholders ("Dilution") of approximately 12%.The cash consideration will now total US$7 million and has been re-structured such that US$2 million of cash payable to Auroch three months after Completion is expected to be settled through project finance and a further US$1 million of cash will be retained by the Company.  Full Article

Xtract Resources intersects high grade gold reef system discovered at Chepica
Tuesday, 4 Aug 2015 02:00am EDT 

Xtract Resources:Says that it has intersected a second high grade gold reef system at the Colin Mining area at the Chepica Gold and Copper Mine in Chile.Says this discovery follows the update on July 15, 2015 in which the Company announced that development at the Colin Mining area had intersected a new reef system that graded at 4.2g/t over a 3.5m width.Says Development is now underway on Reef system B on 5 level (about 150m below surface).  Full Article

Auroch Minerals NL announces sale of Manica gold project to Xtract Resources PLC
Monday, 29 Jun 2015 07:13pm EDT 

Auroch Minerals NL:Says that it has entered into binding agreement to sell 100 pct. of Manica Mining Concession 3990C to Xtract Resources PLC for total sale consideration of $11.0 million in a combination of cash and equity in Xtract, plus assumption of project related creditors of up to $1.5 million.Says that effective from date of signing agreement Xtract will be responsible for management supervision of operations of Manica Mining Concession as well as funding associated costs and liabilities from June 1.  Full Article

Xtract Resources plc announces placing
Monday, 29 Jun 2015 02:00am EDT 

Xtract Resources plc:Has raised 4.4 million Pounds following the placement of 1,466,666,665 ordinary shares of 0.01 pence per share at 0.30 pence per share.The capital raised will be used as part of the consideration to acquire 100 pct of the 3990C Manica Gold mining license.  Full Article

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