REG - Xtract Resources plc - Manica Alluvial Update <Origin Href="QuoteRef">XTR.L</Origin>

Xtract ResourcesAnnouncement

01/08/2017 10:20

RNS Number : 7235M
Xtract Resources plc
01 August 2017
For immediate release
1 August 2017
Xtract Resources Plc
("Xtract" or the "Company")
Manica Alluvial Update
The Board of Xtract Resources Plc ("Xtract" or the "Company") are pleased to announce an update on the Mining Contractor agreements concluded with Omnia Mining Ltd on 19 June 2017 and with Sino Minerals Investment Limited 11 July 2017. 
Highlights
 Almost all of Omnia equipment currently on site and being installed
 First alluvial mining to commence before the end of August 2017
 Sino Minerals have paid first initial payment, which was a condition 
 Initial 200 tonne per hour plant secured and in country
 Mine planning and logistical layouts being developed to facilitate mining by end of August 2017 (Omnia)
 Omnia settling dams currently being excavated
Colin Bird, Chairman said: "Omnia Mining and Sino Minerals are aggressively pursuing development of the proposed mining operations on our Manica Gold Property. The work to date gives us confidence that operations will start on or before time and that the two operators are competent in this type of mining. We continue to pursue various financing and development proposals for the hard rock propositions."
Shareholders are invited to participate in a live interactive webcast, scheduled to commence later today at 11am. Please use the following link to connect to the live webcast: 
http://webcasting.brrmedia.co.uk/broadcast/5979ef969ff3a6521c9fdf16
Further details are available from the Company'swebsite which details the company's project portfolio as well as a copy of this announcement:www.xtractresources.com
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse.
Enquiries:
Xtract Resources Plc
Colin Bird, Executive Chairman
+44 (0)20 3416 6471
Beaumont Cornish 
Michael Cornish 
Roland Cornish
Felicity Geidt
+44 (0)207628 3369

Email: corpfin@b-cornish.co.uk

Beaufort Securities
Jon Belliss
+44 (0)207 382 8300

This information is provided by RNS
The company news service from the London Stock Exchange
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