An undisclosed buyer agreed to acquire Manica Gold Project from Xtract Resources Plc (AIM:XTR) for $15 million on January 24, 2024. The consideration consists of $12 million in cash, of which $9 million is to be paid in quarterly instalments of $0.75 million commencing on 1 March 2024, with the last payment due on December 1, 2026; a further US$3 million to be paid on or before March 1, 2027; and deferred consideration of up to a further $3 million. The Board intends to use the Disposal consideration of up to $15 million to fund the exploration programs on the Company's existing copper projects in Zambia, and to take advantage of new opportunities in Southern Africa offering considerable upside in those metals in which Xtract is focused. Transaction is expected to complete on February 15, 2024 or such later date agreed to by the parties to the MMP Agreements. As of February 16, 2024, The Long Stop Date has been extended from February 15, 2024 to February 23, 2024. Roland Cornish, Michael Cornish and Felicity Geidt of Beaumont Cornish Limited acted as financial advisor to Xtract Resources.

An undisclosed buyer completed the acquisition of Manica Gold Project from Xtract Resources Plc (AIM:XTR) on February 22, 2024.