REG - Xtract Resources plc - Comment regarding Zambia media reports

Xtract ResourcesAnnouncement

07/10/2020 10:10

RNS Number : 3754B
  
Xtract Resources plc
  
07 October 2020
  
 

 
7 October 2020
Xtract Resources Plc
("Xtract" or the "Company") 
Comment regarding Zambia media reports 
 
 
 
The Board of Xtract Resources Plc ("Xtract" or the "Company") is aware of recent Zambian media reports questioning the legal ownership of the mining licence relating to the Kalengwa Processing Project in Zambia.
 
Xtract confirms that it and its directors have not been served with any legal proceedings or restraint orders in relation to the Kalengwa Processing Project in Zambia.
 
In Zambia mining licences are issued by the Zambian Ministry of Mines and Mineral Development. The Zambian Mining Cadastre confirms the issue of the Large Scale Exploration  Licence 24401-HQ-LEL to Kalengwa Processing Zone Limited ("KPZ") on 2 April 2019 with an expiry date of 1 April 2023 which covers the commodities cobalt, copper, diamond, gold, iron or, lead, malachite and silver and comprises an area of 974.83 km2.  
 
The Kalengwa Procesing Project comprises the processing area, the tailings dumps and the flooded open pit (the "Flooded Pit") and the area 500 metres to the north of the Flooded Pit and 500 metres to the south of the Flooded Pit, details of which were set out in the announcement dated 15 July 2019. Further details are available from the Company's website as well as a copy of this announcement at:
 www.xtractresources.com 
 
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse. The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Director.
 
Enquiries:
 



Xtract Resources Plc


Colin Bird,
Executive Chairman
 


+44 (0)20 3416 6471
www.xtractresources.com 




Beaumont Cornish Limited
Nominated Adviser and Joint Broker


Roland Cornish
Michael Cornish 
Felicity Geidt


+44 (0)207628 3396
www.beaumontcornish.co.uk 




 
Novum Securities Limited 
Joint Broker                   


 
Colin Rowbury  


 
+44 (0)207 399 9427 
www.novumsecurities.com  



 
 
 
 
 

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