Xtract Resources reports ‘modest’ December quarter output
Xtract Resources on Tuesday reported alluvial mining contractors operating at its Manica project, in Mozambique, had produced about 1 328 oz of gold in the quarter ended December 31.
Xtract continues to review the alluvial operations and introduce more equipment.
Plans are being made to concurrently work the upper terraces.
Test work was also carried out in Zimbabwe to extend alluvial income.
Further, the project’s definitive feasibility study was revised to accommodate less complex ore, with a technical and financial study to be released shortly.
“The quarter under review produced modest results compared with previous quarters and reflects the lower grade areas having been ceded back to the company, together with compensation paid to local farmers,” commented chairperson Colin Bird.
“The areas mined during this quarter were marginal but considered appropriate for processing, despite lower grades. We expect to see improving production against an improving gold price.
“We recognise the inconsistency of alluvials, but over the last year have gained considerable insights into the intricacies of alluvial mining and this has moved up into a test work programme in neighbouring countries. We now have a very clear vision how to effectively mine the hard rock occurrences which are less metallurgically challenging.”
The company is talking to potential partners and investors to develop the Manica project and the board intends to release revised scoping numbers in the near future, he informed.
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