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Xtract Resources mulls African gold project acquisition

The chief executive of Xtract Resources (LON:XTR), Jan Nelson, says the company is considering adding a gold project in South Africa to its current portfolio of mines.

The firm already owns the Chepica mine in Chile, which Nelson says is now profitable and expected to show increases in resources and grades in the coming months.

Speaking to Proactive, the CEO reveals the firm is eyeing a gold project in South Africa “for not a lot of cash” which would support its goal of progressing from a junior mining company to a mid-cap producer.

Quick facts: Xtract Resources PLC

Price: 6.32 GBX

Market: LSE
Market Cap: £48.57 m

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Xtract Resources to become mid-tier gold producer by end 2017 – CEO

Jan Nelson, chief executive of Xtract Resources PLC (LON:XTR), says the restructuring of the Chepica mine in the last quarter of last year is paying off. “I know it was very difficult and hard for investors at the time, but I think you can see that the plan in terms of stopping and...

on 05/05/2016

2 min read