Second-quarter production at Xtract's Manica Concession rises, production costs fall
Total contractor-mined alluvial gold ore produced at Xtract Resources' Manica Concession in Kabwe, Mozambique, increased from 467 oz in the first quarter to 566 oz in the second quarter of this year.
Production was, however, down from the 1 045 oz produced in the last quarter of 2019.
In total, 158 oz of ore mined is attributable to Xtract’s Mozambique subsidiary Explorator, with combined attributable revenue to Explorator from gold sales and other income for the period amounting to $261 679.
This is down from the $508 537 generated in the first quarter of the year.
However, production costs also decreased to $694/oz in the second quarter, from $1 346/oz in the first quarter.
Xtract executive chairperson Colin Bird says the operating results have been fairly consistent, reflecting difficult operating conditions.
“During the current quarter, we have seen a reduction in overall costs and once again operating income over expenditure.”
He says Xtract anticipates a modest increase in production during the third quarter, which should also result in an improved financial performance with an increasing gold price.
In addition, Bird says negotiations to introduce further mining and processing for both alluvial and hard rock production are progressing.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation