REG - Xtract Resources plc - Wildstone towards production on antimonylicences

Xtract ResourcesAnnouncement

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RNS Number : 5590V  Xtract Resources plc  05 March 2026

 

5 March 2026

 

           Xtract Resources Plc

            ("Xtract" or the "Company")

                 Wildstone moves towards production on antimony
licences

 

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to
provide an update on work completed on the Amghas and Ighoud antimony
licences, both former producing antimony mines and the Board's decision to
formally approve further investment to specifically fast track towards
production at both mine sites. The antimony exploration licences are held by
Xtract's 80%-owned venture, Wildstone SARL ("Wildstone").

 

Since the acquisition of these licences last September, the focus has been on
the assessment and development of two former mining licences Amghas and Ighoud
and completion of baseline and Environmental Impact Assessments and
Feasibility Studies required in order to reactivate these former mining
licences. Work has revealed notable antimony mineralisation at both sites.
Results are such that the Xtract Board has instructed the on-site team to
progress project development initially at Amghas and to complete all necessary
steps to take the project to production in the shortest timeframe.

 

 

Highlights

 

·    Clearing of the Amghas site has uncovered an extensive network of
underground development providing access to clearly visible high-grade
mineralisation (15-40% Sb)

·    Underground sampling has confirmed antimony mineralisation in
brecciated wall rock and a potential additional source of future bulk
production. Historically mining only recovered visible mineralisation that
could be recovered by hand.

·    A mineralised breccia wall rock sample is being collected for dry ore
sorting test work. Amenability to dry sorting would potentially a
significantly greater tonnage of feed for flotation, producing more antimony
in concentrates whilst reducing crushing and milling costs

·    Successful completion of Independent Phase 1 flotation metallurgical
test work. Results confirm the suitability of flotation to produce a saleable
concentrate.

·    External metallurgical consultant engaged to produce a final flow
sheet and estimated capital expenditure for a centralised float plant situated
at Amghas.

·    Front-end gravity test work commissioned to assess the capacity of
gravity separation to further improve the final antimony concentrate

·    In-house resource estimation to be completed in tandem with
reinstatement of mining status at Amghas.

·    The current mine plan envisages the installation of a flotation plant
to produce a >65% Sb concentrate.

 

Executive Chairman Colin Bird commented: "The presence of mineralisation
conducive to standard flotation recovery at both Amghas and Ighoud changes the
dynamic of project development. It provides us with a high degree of
confidence to speed up mine development based on access to a future revenue
stream. The positive metallurgical test work results point towards the
development of a flotation plant at the Amghas site to process both Amghas and
Ighoud mine production. We will continue our assessment to optimise mine and
flotation plant production and associated capital expenditure ahead of
finalising a development plan. I look forward to keeping shareholders informed
of further progress".

 

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 pursuant to the Market
Abuse (Amendment) (EU Exit) regulations (SI 2019/310). 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                              Michael Cornish      www.beaumontcornish.co.uk (http://www.beaumontcornish.co.uk)

 Joint Broker                                       Felicity Geidt

 AlbR Capital Limited                               Jon Bellis           +44 (0)207 399 9427

 Joint Broker                                       Colin Rowbury        www.albrcapital.com
                                                                         (https://url.uk.m.mimecastprotect.com/s/nlsqCLPXphRvL5fqh9uySdLr?domain=albrcapital.com/)
 Shard Capital Partners LLP Joint Broker            Damon Heath          +44 (0) 20 7186 9952

 

Qualified Person:

The technical information contained in this announcement has been reviewed,
verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK
Certified Mine Manager and Director of African Pioneer plc, with more than 40
years' experience mainly in hard rock mining.

 

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.

 

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