Increase in shareholding in Wildstone SARL

Xtract Resources

15/07/2025 11:15

RNS Number : 1351R

Xtract Resources plc

15 July 2025

 

15 July 2025

 

For immediate release

 

Xtract Resources Plc

("Xtract" or the "Company")

 Increase in shareholding in Wildstone SARL

 

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that Wildstone SARL has issued additional equity on a fully diluted basis to Xtract, and the Company's equity interest has increased to 80%.

 

The issue of up to 80% of Wildstone's equity on a fully diluted basis was conditional on further phased expenditure over a three-year period of an aggregated amount of not less than US$900,000 as previously announced.

 

Xtract's Moroccan partners in Wildstone have elected to grant the balance of 30% equity which provides Xtract with its maximum interest of 80% ahead of completion of the required aggregated expenditure, reflecting the commitment shown to date by Xtract in terms of the agreement entered into on 26 February 2025, to develop a significant antimony business in Morocco. The proactive contribution by Xtract both technically and financially has given Xtract's Moroccan partners the confidence to award the 80%, endorsing Xtract's credibility within country as a new entrant into the antimony arena. 

 

Executive Chairman Colin Bird commented: "Together with our local partners we have accelerated all phases of business necessary to participate in Wildstone's Moroccan antimony development. We and our partners are totally aligned as to the methodology requirements and approach required to fast track a position in the antimony space. Our confidence reflects the prospect of further antimony price increases and the need to be proactive in developing a total capability in Morocco, and we look forward to keeping our shareholders abreast of developments".

 

Further information is available from the Company's   website which details the company's project portfolio as well as a copy of this announcement:  www.xtractresources.com

 

For further information, please contact: Xtract Resources PLC

 

Enquiries:

Xtract Resources Plc
Colin Bird,
Executive Chairman
+44 (0)20 3416 6471
www.xtractresources.com
Beaumont Cornish Limited
Nominated Adviser
Roland Cornish
Michael Cornish
Felicity Geidt
+44 (0)207628 3369
www.beaumontcornish.co.uk
Novum Securities Limited
Joint Broker
Jon Bellis
Colin Rowbury
+44 (0)207 399 9427
www.novumsecurities.com

 

Shard Capital Partners LLP
Joint Broker
Damon Heath
+44 (0)207 186 9952
www.shardcapital.com

 

 

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

 

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