Xtract increases Manica production, reduces costs in second quarter

5th October 2021 By: Donna Slater - Creamer Media Contributing Editor and Photographer

Aim-listed resource, development and mining company Xtract Resources increased its total contractor alluvial gold production for the Manica concession from 284 oz in the first quarter of this year, to 427 oz at the end of the second quarter ended June 30.

The company’s wholly-owned Mozambican subsidiary Explorator’s share of gold produced also increased during the period, from 70 oz to 120 oz; while its value of gold produced increased from $143 848 to $218 413 during the period under review.

In the second quarter, Explorator sold 139 oz of gold.

Xtract also managed to decrease its gold production costs during the period, from $1 828/oz to $1 258/oz.

Xtract also reports that its Guy Fawkes development continued during the period, while work at Fair Bride progressed.

Xtract executive chairperson Colin Bird says that, on the back of production increasing in the second quarter, production levels have further continued to increase during the third quarter.

“We look forward to the contribution of the hard-rock mining as the adit advances at Guy Fawkes and a mini openpit commences production at Boa Esperanza. The Fair Bride project continues to gather pace, with increased optimism for production to commence during the final quarter of 2021.”