REG - Xtract Resources plc - Trading update

Xtract ResourcesAnnouncement

06/02/2025 07:00

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RNS Number : 0914W  Xtract Resources plc  06 February 2025

 

6 February 2025

Xtract Resources Plc

("Xtract" or the "Company")

 Trading update

 

The Board of Xtract Resources Plc ("Xtract" or the "Purchaser") is pleased to
announce that it has agreed to purchase dump material, situated in the Zambian
Copperbelt, for a consideration of US$300,000 to be funded from Xtract's
existing cash resources. Xtract intends to conduct trial work testing and
evaluation of the material.

 

Colin Bird, Executive Chairman of Xtract, commented

"There are numerous dump opportunities arising in Zambia from previous copper
mining operations, both big and small. The Company has a number of potential
opportunities to potentially process dump materials and this agreement will
enable Xtract to determine grade, quantity and treatability prior to any
further acquisitions of material depending on technical and commercial
fundamentals."

 

Purchase of material

On 5 January 2025, Xtract agreed to  purchase dump material and to conduct
trial work testing and evaluation of the material from the Seller's sites in
Zambia. Xtract has agreed to pay the seller US$300 000 in cash to for the
material valued at US$1.15 per tonne, to be sourced from the seller's sites in
Zambia and to be removed from the site by Xtract. The seller remains liable
for and shall pay any statutory royalties or any other duties or charges due
to the relevant authorities on the sale of any material to the Xtract. Xtract
also plans to undertake trial, test work and sampling and evaluation at the
site of the material purchased.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(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.

 

 

 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 and Joint Broker                 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

 

 

 

Important Notice:

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is
acting as nominated adviser to the Company in connection with this
announcement and will not regard any other person as its client and will not
be responsible to anyone else for providing the protections afforded to the
clients of Beaumont Cornish or for providing advice in relation to such
proposals. Beaumont Cornish has not authorised the contents of, or any part
of, this document and no liability whatsoever is accepted by Beaumont Cornish
for the accuracy of any information, or opinions contained in this document or
for the omission of any information. Beaumont Cornish as nominated adviser to
the Company owes certain responsibilities to the London Stock Exchange which
are not owed to the Company, the Directors, Shareholders, or any other person.

 

 

ENDS

 

 

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