Inactive Instrument

Xtract Resources PLC London S.E.

Xtract Resources : Sale Mejillones Phosphate Deposit

October 02, 2014 at 03:59 am EDT

Sale Mejillones Phosphate Deposit

Regulatory Story

Xtract Resources plc- XTR

Sale Mejillones Phosphate Deposit

Released 07:00 02-Oct-2014

RNS Number : 2311T Xtract Resources plc
02 October 2014

2 October 2014 Xtract Resources Plc ("Xtract" or "the Company") Sale of 100% of Mejillones Phosphate Deposit

Xtract Resources Plc (AIM: XTR) announces that it has signed an agreement to sell 100% of the Mejillones phosphate deposit to Mines Global ('MG') for a total consideration of £400,000. The consideration is payable in two tranches,
£250,000 within 14 days of signature date and the balance of £150,000 upon successful transfer of all the licences representing the project to a local subsidiary of MG in Chile.
Jan Nelson, CEO of Xtract Resources, commented; "The sale of the Mejillones project is in line with our stated strategy of focusing all our management time and resources on continuing to build the Chepica Gold-Copper mine into a profitable mining operation. The additional funds strengthen our financial position at a time of increased activity as we work towards achieving peak production at Chepica."
ENDS

Enquiries:

Xtract Resources Plc	Jan Nelson, CEO	+44 (0)20 3416 6471
Cenkos Securities Plc	Alan Stewart Derrick Lee	+44 (0)131 220 6939
Hume Capital Securities plc	Jon Beliss Abigail Wayne	+44 (0)20 3693 1470
St James's Corporate Services Limited	Phil Dexter	+44 (0)20 7796 8647 +44 (0)7798 634398
Gable Communications Limited	John Bick Xtract@gablecommunications.com	+44 (0)20 7193 7463 +44 (0) 7872 061007

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

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Company Profile

Xtract Resources Plc is a United Kingdom-based resource, development, and mining company with projects in Australia, Mozambique, and Zambia. The Companyâs projects include Bushranger Copper-Gold, Eureka Copper, Kalengwa Copper, Kakuyu Copper, and Manica Alluvials . The Bushranger Copper-Gold project is located in the Lachlan Fold Belt (LFB), New South Wales, Australiaâs, a copper-gold province. The Kakuyu Project is located approximately 53 kilometers (km) north-west of the town of Mumbwa, in the Central Province of Zambia. The Kalengwa Copper Project is located in the North-western province of Zambia, approximately 800 km north-west of Lusaka and 400 km south-west of Kitwe. The Eureka copper-gold property comprises approximately 345 hectares and is accessed by a 100 km dirt road from Kabwe, west of the Zambian Copperbelt district. The Manica Alluvials project is located in Mozambique.

Sector

Gold

Calendar

2024-05-28 - Q4 2023 Earnings Release (Projected)

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