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 executive chairperson Colin Bird on Monday said the results demonstrate an increasing trend in quarterly production.
Production in the first quarter had been adversely affected by the rainy season and difficult processing conditions in the west.
The second quarter was rid of the rains, but was affected by difficult processing conditions as a result of fine gold and erratic gold occurrences.
The company is constantly reviewing its alluvial operations and is in discussions to separate the higher-topography alluvials from the riverside alluvials. It expects to make new arrangements in this regard shortly.
“We have taken the decision to employ different contractors for the terraces and adjacent to the river alluvials and the appointment is expected to be announced shortly.
“Since alluvial production started in 2017, Explorator has been self-funding and we are encouraged by production levels being maintained by one contractor," said Bird.