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Xtract hails Manica project as "world-class, low cash gold producer"

Jan Nelson, chief executive officer at Xtract Resources (LON:XTR), the gold and copper exploration and development company, shares the reasons behind the acquisition of the Manica gold project in Mozambique with Proactive Investors after the company received the government's green light for the deal.

Nelson argues Manica is a "world-class, low cash gold producer" that transforms Xtract into a mid-tier gold producer with a lot of flexibility and the cashflow needed to help fund future growth.

He says the company is well on track to achieve the initial bankable feasibility study at the end of the second quarter of 2016.

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Price: 1.12 GBX

LSE:XTR
Market: LSE
Market Cap: £6.95 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