R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.31 $/oz Change: -12.55
Pt 794.99 $/oz Change: -8.87


Xtract, Nexus amend terms of alluvial collaboration agreement

By: Tasneem Bulbulia     30th October 2018 Xtract Resources and Nexus Capital, previously known as Mineral Technologies International, on Tuesday agreed to revise the terms of a collaboration agreement for the exploitation of alluvial gold deposits at Xtract’s Manica deposit, in Mozambique. The parties initially entered into the... 

Xtract alluvial mining delivers 2 903 oz in H1

By: Tasneem Bulbulia     28th September 2018 Gold producer, exploration and development company Xtract Resources, which has projects in Mozambique, on Friday said about 2 903 oz of total alluvial mining contractor gold had been produced in the six months ended June 30. 

Production at Xtract’s Manica concession increases 42% q/q

By: Marleny Arnoldi     16th July 2018 Alluvial mining contractors operating at Aim-listed Xtract Resources’ Manica concession, in Mozambique, produced 1 703 oz of gold in the second quarter – a 41.9% quarter-on-quarter increase.  

Xtract reviewing new contractor proposals for Western half of Manica mine

By: Marleny Arnoldi     25th June 2018 Diversified miner Xtract Resources continues to review new contractor proposals for the Western half of its Manica gold project, in Mozambique, after previous contractor Moz Gold’s gold recovery rate was found to be unsatisfactory as a result of the fine nature of the gold and the processing... 

‘Substantial improvement’ in alluvial mining at Xtract’s Manica mine

By: Marleny Arnoldi     14th June 2018 Aim-listed gold miner Xtract Resources reports substantial improvements in alluvial mining contractor gold production at its Manica alluvial operations, in Mozambique.  

Heavy rains affect production at Manica gold concession

8th June 2018 The alluvial production at the Manica gold mining concession in Mozambique for the first quarter of the year was disappointing on the back of prolonged heavy rains, although real progress was made, says diversified metals and minerals producer Xtract Resources executive chairperson Colin Bird.... 

Xtract narrows loss as Manica ramps up

By: Anine Kilian     30th May 2018 Aim-listed Xtract Resources has achieved significant progress at its Manica gold project, in Mozambique, in the year ended December 31, 2017. The mine produced its first gold in October, from Sino Minerals, which marked a milestone in the company's history. 

Xtract concludes Manica hard rock collaboration agreement

By: Simone Liedtke     19th February 2018 The board of London-based diversified metals and minerals producer Xtract Resources has concluded a further collaboration agreement with Omnia Mining for the exploitation of the hard rock gold deposits at Xtract's Manica mining concession in Mozambique. This, however, excludes the hard rock gold... 

Xtract concludes new mining contractor agreement for Manica

By: Anine Kilian     8th February 2018 Aim-listed Xtract Resources’ wholly-owned Mozambican subsidiary Explorator Limitada has concluded a new mining contractor agreement with Omnia for the exploitation of alluvial gold deposits at its Manica mining concession in Mozambique. The agreement with Omnia allows the O block of the western... 

Xtract reports good progress at Manica project

By: Anine Kilian     25th January 2018 Combined attributable income from Aim-listed Xtract Resources’ Mozambique-based Manica project amounted to $801 000 for the quarter ended December 31, 2017. The project’s alluvial operational costs for the period amounted to $254 000, the company said in a statement on Thursday. 

Xtract announces enhanced terms for Manica gold project

By: Anine Kilian     7th December 2017 Aim-listed Xtract Resources’ Mozambique subsidiary Explorator has negotiated enhanced terms for the exploration of alluvial gold deposits in the western portion of its Manica mining concession, in Mozambique, the company announced on Thursday. Explorator initially concluded mining contractor... 

Xtract Resources raises £1.7m to pay debt, fund Manica opportunities

By: Megan van Wyngaardt     14th November 2017 Aim-listed Xtract Resources has conditionally raised £1.7-milion, before expenses, through the placement of 59.64-million new ordinary shares at 2.85p a share. The net proceeds from the placing will be used to pay off outstanding debt of £530 000 and to take advantage of commercial opportunities... 

Omnia Mining starts production at Xtract’s Manica concession

By: Creamer Media Reporter      12th October 2017 Mining contractor Omnia Mining has started production on the western half of Aim-listed Xtract Resources’ Manica concession, in Mozambique. Earlier this year, Xtract’s subsidiary Explorator signed mining contractor agreements with Omnia and Sino Minerals Investment Company for the exploitation of... 

Sino starts production at Xtract’s Manica project

By: Anine Kilian     9th October 2017 One of Xtract Resources’ alluvial mining contractors at the Manica concession, in Mozambique, Sino Minerals, has started production on the eastern half of the concession. Xtract’s Mozambique subsidiary Explorator concluded mining contractor agreements for the project with mining contractors Omnia... 

Mining contractor activity progressing at Moz gold project

By: Mia Breytenbach     25th August 2017 The mining contractor activity at Aim-listed Xtract Resources’ Manica concession area, in Mozambique, is progressing “favourably”, with initial mining of the alluvial gold deposits expected to start at the end of this month, the company reports. Xtract’s Mozambique subsidiary Explorator concluded... 

Alluvial mining at Xtract’s Manica project to start before month-end

By: Creamer Media Reporter      1st August 2017 The first alluvial mining will start at Xtract Resources’ Manica project, in Mozambique, before the end of this month. Xtract has, in recent months, signed mining contractor agreements with Omnia Mining and Sino Minerals Investment Company for the exploitation of alluvial gold deposits at the... 

Xtract subsidiary signs second contractor mining agreement for Manica project

By: Creamer Media Reporter      11th July 2017 Xtract Resources’ subsidiary Explorator has completed a mining contractor agreement with Sino Minerals Investment Company for the exploitation of alluvial gold deposits at the Manica mining concession, in Mozambique. Xtract and Nexus Capital in February agreed that the alluvial gold deposit at... 

Xtract, Nexus amend mining agreement

By: Megan van Wyngaardt     20th June 2017 Xtract Resources and Nexus Capital have agreed to revise the terms of their collaboration agreement for the exploitation of alluvial gold deposits at the Manica project, in Mozambique. The parties in February agreed that the alluvial gold interest would be developed jointly through the... 

Xtract secures mining contract agreement for Manica concession

By: Natasha Odendaal     19th June 2017 Aim-listed Xtract Resources’ wholly-owned subsidiary Explorator has concluded a mining contractor agreement that will result in the exploitation of alluvial gold deposits at its Manica mining concession, in Mozambique. Contract miners Omnia Mining and Moz Gold will have the exclusive right to... 

Modest mining industry growth on back of political turmoil

By: Nadine James     9th June 2017 Mozambique's mining industry is expected to increase marginally from $640-million in 2017 to $756-million in 2021, largely as a consequence of the challenging operating environment created by escalating political tensions and minimal public-sector support. This forecast is made by research... 

Manica neither complex, capital demanding

9th June 2017 The Manica gold project’s definitive feasibility study (DFS) results demonstrate a robust, simplistic project with an average gold grade of 2.62 g/t producing 215 293 oz over its seven-year life, says diversified miner Xtract Resources. In the DFS results announcement in February, Xtract... 

Jan Nelson heading up copper explorer

By: Mariaan Webb     24th April 2017 Former Xtract Resources and Pan African Resources CEO Jan Nelson has joined Handa Copper – a TSX-V-listed company focusing on prospects in Africa – as CEO. Nelson, who quit as Aim-listed Xtract CEO in September last year, will head up the exploration company’s new management team, which will be... 

Xtract inks collaboration deal with Nexus

By: Creamer Media Reporter      13th February 2017 Aim-listed Xtract Resources has signed a collaboration agreement with private Hong Kong-registered Nexus Capital for the exploitation of alluvial gold deposits at the Manica gold project, in Mozambique. The agreement is the result of an internal review by Xtract of its alluvial contract, and... 

Xtract completes Manica review

By: Anine Kilian     17th November 2016 Aim-listed Xtract Resources has completed a review of its Manica project, in Mozambique, as part of an overall review of the company's position relative to its various projects. The review concluded that Xtract should develop Manica solely on an openpit basis, with plans for a potential... 

Xtract raises funds to revive Mozambique mine

By: Megan van Wyngaardt     3rd November 2016 Xtract Resources has entered into a £980 000 subscription agreement with YA II EQ to provide additional working capital to further develop its Manica gold mine, in Mozambique. Xtract chairperson Colin Bird reiterated that the company was now solely focused on its Manica project after having... 

Xtract confident of company’s future after halting Chile mine investment

By: Megan van Wyngaardt     24th October 2016 Xtract Resources’ decision to no longer provide finance to Minera Polar Limitada, the owner of the Chepica gold/copper mine, in Chile, has stopped the severe financial haemorrhaging the company had suffered over the past year. In September, Xtract decided to pull the plug on its investment in the... 

Auroch enters lithium sector with Tanzania project acquisition

By: Mariaan Webb     24th May 2016 Australia’s Auroch Minerals has entered the lithium sector with the acquisition of the Hombolo project, in Tanzania, as the company seeks to take advantage of the strong outlook for lithium from the battery market. Auroch, which recently sold its Manica gold project to Xtract Resources, had made... 

Mozambique sees advances in precious stones and metals programmes

By: Keith Campbell     18th March 2016 In Mozambique, the Nampula provincial government has announced that a $50-million gem and other precious stones certification centre will open this month. The centre, an initiative of the country’s Ministry of Science, Technology and Higher Education under its technology parks programme, is... 

Economic metrics of Manica project ‘robust’ – Xtract

By: Anine Kilian     7th March 2016 Gold miner Xtract Resources has completed an in-house update on the economic metrics of the Manica project, in Mozambique, as part of the definitive feasibility study (DFS) that is being undertaken by independent consultants. The company on Monday said the DFS was on schedule to be completed by... 

Moz authorities clear Xtract’s Manica gold acquisition

By: Anine Kilian     1st March 2016 Aim-listed Xtract Resources has received approval from the Mozambique mining authorities to complete the acquisition of 100% of the Manica gold project, in Mozambique, from Auroch Minerals. This was the final outstanding approval and all conditions had now been fulfilled to complete the... 

Manica sale nears completion - Auroch

By: Esmarie Iannucci     5th February 2016 ASX-listed junior Auroch Minerals on Friday said that it was advancing the sale of its Manica gold project, in Mozambique, after buyer Xtract Resources paid a $698 968 bill to the Mozambique government. The payment was made to settle a capital gains tax that was payable on the completion of the... 

Moz tax ruling issued for Manica project sale

By: Natalie Greve     20th January 2016 The Mozambique Tax Authority has determined that $698 968.78 in capital gains tax is due and payable at completion of the sale of the Manica gold project, owner Sydney-listed Auroch Minerals has advised. Project buyer Xtract Resources would, pursuant to the sale agreements, pay the sale-related tax. 

Xtract Resources set to restart operations in Chile

By: Megan van Wyngaardt     13th January 2016 Operations at Xtract Resources’ Chepica gold and copper mine, in Chile, are set to resume, following the completion of recommended work suggested by the country’s Inspector of Mines. In December, the mine’s processing plant was closed after two fatal accidents occurred when an individual,... 

Auroch amends Manica sale terms

By: Esmarie Iannucci     14th September 2015 ASX-listed Auroch Minerals has amended the terms of its sales agreement with Aim-listed Xtract Resources over its Manica gold project, in Mozambique. Under the revised terms, Xtract would now pay $10-million to buy the project, instead of the initially agreed-upon $12.5-million. 

Auroch sells Moz gold project to Xtract for $12.5m

By: Creamer Media Reporter      30th June 2015 ASX-listed Auroch Minerals will sell its Manica mining concession, in Mozambique, to Aim-listed gold and copper exploration company Xtract Resources for $12.5-million. The purchase price included $6.5-million in Xtract shares and $4.5-million in cash. Xtract would also provide funding to settle... 

Xtract gets major discount on O’Kiep acquisition

By: Megan van Wyngaardt     20th May 2015 Aim-listed Xtract Resources has successfully renegotiated the deed of assignment for the acquisition of the O'Kiep copper sulphide tailings project, in the Northern Cape, which would result in a reduced cash payment of $2.88-million, a 28% reduction from the initial $4-million payment. Xtract... 


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