REG - Xtract Resources plc - Fundraising for £2,000,000

Xtract ResourcesAnnouncement

13/11/2025 15:00

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RNS Number : 4804H  Xtract Resources plc  13 November 2025

13 November 2025

For immediate release

 

Xtract Resources Plc

("Xtract" or the "Company")

 

Issue of Equity and PDMR shareholding

 

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to
announce a fundraising today for £2,000,000 at a price of 0.60 pence per
Ordinary Share (the "Fundraising") principally for the ongoing advancement of
its Silverking copper and Amghas antimony projects.

 

Executive Chairman Colin Bird commented: "This fundraising has been initiated
in order to enable us to continue to develop our mine project in Morocco and
invest in our joint venture with our partners in Silverking in Zambia and in
particular, to complete construction of a processing plant at Silverking
whilst continuing with exploration on the general licence area. The Board
expects that the Silverking plant will be commissioned and mining start in
2026 to take advantage of current copper prices. In
Morrocco, exploration will continue while Government approval is obtained to
 redevelop the Amghas mine and construct a floatation plant."

 

Fundraising

The Company has today raised £2,000,000 before expenses through the issue of
333,333,332 new Ordinary Shares (the "New Shares") at a price of 0.60 pence
per new Ordinary Share (the "Issue Price")  to certain existing shareholders
and new investors conditional only upon admission of the New Shares to trading
on AIM ("Admission"). The Fundraising comprises a placing of 304,999,999 new
Ordinary Shares (the "Placing Shares") for £1,830,000 at the Issue Price (the
"Placing") which has been arranged by Shard Capital Partners LLP. In addition
to the Placing, the Company has arranged for direct share subscriptions for
28,333,333 new Ordinary Shares at the Issue Price to raise £170,000 (the
"Subscription Shares"). Mr Colin Bird, a director and Executive Chairman of
Xtract, will be subscribing for 3,333,333 Subscription Shares for £20,000 at
the Issue Price (representing 0.39 % per cent of the existing issued share
capital).

 

The Issue Price represents a discount of 14.29 per cent. to the closing middle
market price of an Ordinary Share of 0.70 pence on 12 November 2025, being the
latest practicable date prior to this announcement.

 

Each participant in the Fundraising will also receive one (1) warrant for each
New Share subscribed pursuant to the Fundraising, exercisable at 1.20 pence
per new ordinary share for three years from Admission. The Company is also
issuing a warrant to Shard Capital Partners LLP to subscribe for a total of
18,300,000 new Ordinary Shares exercisable at the Fundraising Price for a
period of three years from Admission ("Broker Warrants").

 

The net proceeds from the Placing will be principally utilised by the Company
to advance its Silverking copper project in Zambia and the Amghas antimony
project in Morocco with the objective being to create small production units
to start the generation of cash flow to help scale both assets in the future.

 

The New Shares to be issued represent, in aggregate, approximately 38.92 per
cent. of the Company's existing issued share capital.

 

 

 

The Fundraising is conditional only on Admission. The 304,999,999 Placing
Shares and 28,333,333 Subscription Shares, amounting to 333,333,332 New Shares
in aggregate, will when issued rank pari passu in all respects with the
existing Ordinary Shares. Application will be made for admission to trading on
AIM of the New Shares and Admission is expected to become effective and
dealings in the New Shares will commence at 8.00 a.m. on  or around 27
November 2025.

 

Total Voting Rights

 

Following the issue of the New Shares, the Company's total issued share
capital will consist of 1,189,708,447 Ordinary Shares with voting rights.
The Company does not hold any Ordinary Shares in treasury and accordingly
there are no voting rights in respect of any treasury shares.

 

On Admission, the abovementioned figure of 1,189,708,447 Ordinary Shares may
be used by shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their interest in,
or a change to their interest in, Galileo under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for
the release of this announcement on behalf of the Company was Colin Bird,
Executive Chairman and Director.

 

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 (http://www.xtractresources.com)

 

For further information, please contact: Xtract Resources PLC

 

Enquiries:

 Xtract Resources Plc                               Colin Bird,          +44 (0)20 3416 6471

                                                    Executive Chairman   www.xtractresources.com (http://www.xtractresources.com)

 Beaumont Cornish Limited                           Roland Cornish       +44 (0)207628 3369

 Nominated Adviser                                  Michael Cornish      www.beaumontcornish.co.uk (http://www.beaumontcornish.co.uk)

                                                    Felicity Geidt

 Novum Securities Limited                           Jon Bellis           +44 (0)207 399 9427

 Joint Broker                                       Colin Rowbury        www.novumsecurities.com

 Shard Capital Partners LLP                         Damon Heath          +44 (0)207 186 9952

 Joint Broker                                                            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.

 

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Colin Bird

 2    Reason for the notification

 a)   Position/status                                              Executive Chairman

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Xtract Resources plc

 b)   LEI                                                          213800A71LZ79EKUNC34

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary Shares of 0.02p each ("Ordinary Shares")

      Identification code                                          ISIN: GB00BYSX2795

 b)   Nature of the transaction                                    Subscription for Ordinary Shares

 c)   Price(s) and volume(s)

Price(s)    Volumes(s)
                                                                                         0.60 pence  3,333,333

 d)   Aggregated information                                       n/a

      - Aggregated volume
      - Price

 e)   Date of the transaction                                      13 November 2025

 f)   Place of the transaction                                     Off-market

d)

 

Aggregated information

n/a

- Aggregated volume

- Price

e)

 

Date of the transaction

 

13 November 2025

f)

 

Place of the transaction

 

Off-market

 

 

 

ENDS

 

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