Tillkännagivande • 5h
Xtract Resources plc Commences Production At Silverking Copper-Silver Project Xtract Resources Plc announced the commencement of initial production at the Silverking copper-silver project in Zambia. The Project is operated through a joint venture with Oval Mining Limited, holder of Small-Scale Mining Licence 34544-HQ-SML in the Mumbwa District of Zambia, and Cooperlemon Consultancy Limited. Oval, the operator, has commenced the processing of mixed oxide-sulphide ore through the Joint Venture's flotation plant. Oval has recently upgraded the plant to support increased capacity and is targeting an optimised throughput rate of 28 tonnes per hour. Sufficient sulphide mineralisation is present within the near-surface mineralised section of the orebody to support direct flotation. The oxide component is also proving treatable through the addition of reagents, making the run-of-mine feed amenable to flotation. Further reagent trials are underway with the objective of stabilising concentrate grade, which is currently fluctuating between 20% and 35% Cu, at an optimised target grade of 28% Cu. Run-of-mine grade from the upper section of the orebody is currently between 0.80% and 1.1% Cu and 11 to 68 g/t Ag. High-grade bornite-rich vertical plug defined by drilling from 60m to at least 140m depth, enveloped by a 200m by 110m chalcopyrite-rich envelope projected to about 170m depth. Two substantial chalcocite-bornite vein systems identified crosscutting the main body, with potentially mineable widths. Oxide/sulphide mineralisation extends from surface to 60m over the deposit centre and to 135m northwest of the core mineralised zone. Mineralisation remains open at depth, with drilling intersections including 4m at 7.67% Cu and 63.5g/t Ag in hole SKIDD018 from 228m downhole supporting planned deeper drilling to approximately 350m vertical depth. A decline is under evaluation based on in-house deposit modelling to access the high-grade core at depth, with final mine planning to be informed by upcoming drilling results. A total of 895 diamond drill hole core samples, 131 partial assays from trench sampling and 281 partial assays from blast hole sampling was utilised in modelling of the deposit, with 81 trench samples and 312 blast hole sample results still outstanding. Total copper assays were determined by ICP-OES and reported up to an upper detection limit of 10%. Of the total samples, 19 samples reported greater than 10% total copper. Seven of these samples were send for high grade analysis by AAS, returning values up to 41.96% total copper. Silver assays were also determined by ICP-OES and reported to an upper detection limit of 100ppm (g/t). 21 samples returned values greater than the upper limited of detection. Further potential exists that will be evaluated by the Company. This will include testing depth extension to the main body and ground geophysical studies to define the limits of other discrete mineralised bodies that have been identified within the licence. Information in this announcement related to drilling results has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical Advisor to Xtract. Silverking is subject to operational risks in respect of the performance of the plant and grade of run-of-mine ore. Shareholders should note that production at Silverking has only just commenced, and accordingly, until optimisation including further reagent trials have been completed, there can be no assurance of what the steady state production will be in terms of throughput rate per hour, or production of concentrate tonnage and grade. A further announcement will be made in due course. New Risk • Jul 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (UK£14.0m market cap, or US$18.6m). New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (UK£12.5m market cap, or US$16.9m). Tillkännagivande • Mar 06
Xtract Resources Plc Moves Towards Production on Antimony Licences Xtract Resources Plc provided an update on work completed on the Amghas and Ighoud antimony licences, both former producing antimony mines and the Board's decision to formally approve further investment to specifically fast track towards production at both mine sites. The antimony exploration licences are held by Xtract's 80%-owned venture, Wildstone SARL. Since the acquisition of these licences last September, the focus has been on the assessment and development of two former mining licences Amghas and Ighoud and completion of baseline and Environmental Impact Assessments and Feasibility Studies required in order to reactivate these former mining licences. Work has revealed notable antimony mineralisation at both sites. Results are such that the Xtract Board has instructed the on-site team to progress project development initially at Amghas and to complete all necessary steps to take the project to production in the shortest timeframe. Clearing of the Amghas site has uncovered an extensive network of underground development providing access to clearly visible high-grade mineralisation (15-40% Sb). Underground sampling has confirmed antimony mineralisation in brecciated wall rock and a potential additional source of future bulk production. Historically mining only recovered visible mineralisation that could be recovered by hand. A mineralised breccia wall rock sample is being collected for dry ore sorting test work. Amenability to dry sorting would potentially a significantly greater tonnage of feed for flotation, producing more antimony in concentrates whilst reducing crushing and milling costs. Successful completion of Independent Phase 1 flotation metallurgical test work. Results confirm the suitability of flotation to produce a saleable concentrate. External metallurgical consultant engaged to produce a final flow sheet and estimated capital expenditure for a centralised float plant situated at Amghas. Front-end gravity test work commissioned to assess the capacity of gravity separation to further improve the final antimony concentrate. In-house resource estimation to be completed in tandem with reinstatement of mining status at Amghas. The current mine plan envisages the installation of a flotation plant to produce a >65% Sb concentrate. New Risk • Nov 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£7.14m market cap, or US$9.40m). Tillkännagivande • Nov 14
Xtract Resources Plc has completed a Follow-on Equity Offering in the amount of £1.83 million. Xtract Resources Plc has completed a Follow-on Equity Offering in the amount of £1.83 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 304,999,999
Price\Range: £0.006
Transaction Features: Subsequent Direct Listing Tillkännagivande • Oct 02
Xtract Resources plc Announces Operational Xtract Resources Plc announced its unaudited interim results for the six months ended 30 June 2025 ("Period"). A Phase 1 drill programme completed at the Silverking Cu-Ag project in Zambia. Results received indicate a significant extension of the high-grade mineralisation, tripling the known surface expression to over 260m strike length. Ground VTEM geophysical and geochemical studies are ongoing to define potential drill targets. Initial lithological drilling at the Western Foreland project has confirmed the presence of prospective stratigraphic units that have the potential to host Kamoa-Kakula-style high-grade copper mineralisation. Xtract will manage the exploration and development of the project and meet an expenditure commitment of not less than USD 900,000 over an initial 3-year period. Wildstone SARL hold the exploration and extraction rights for copper, silver, and antinomy across 20 non-contiguous licences in Central Morocco which boast the potential for the rapid development towards a small-scale mining operation. The company also acquired dump material from various sites in the Zambian Copperbelt, valued at USD 1.15 per tonne, for a total investment of USD 300,000, representing an attractive investment for the company. During the reporting period, the focus was on evaluating prospective mining opportunities at the advanced Silverking Cu-Ag Iron-Oxide-Copper-Gold project. A phase 1 drilling programme completed on the licence delivered highly encouraging results, more than tripling the surface expression of the high-grade mineralized core at the main Silverking orebody. A Phase 1 diamond drilling programme was completed at Silverking during the reporting period. The main aims of the drilling were to assess the continuity of the main Silverking orebody at surface and at depth, indicate the potential scale of wall-rock alteration assemblages and any potential lower-grade mineralised envelopes surrounding the main breccia pipe body, and test recently discovered satellite targets. The results returned from the drilling have so far tripled the surface expression of the high -grade copper and silver mineralisation to over 260m and include consistent returns of mineralisation over downhole intervals of 25m. Following the completion of the Phase 1 drilling the expenditure threshold has been reached and Xtract have the option to increase its interest to 70% by expending an additional USD 1,000,000 over the subsequent two years. The Phase 2 exploration programme will focus on evaluating mapped and inferred redox boundaries identified during the lithological studies accomplished in Phase 1, conducting detailed ground electro-magnetic (EM) and magnetic surveys along selected profiles, and following-up prospective targets with diamond drilling. Exploration is expected to re-commence at the end of the rainy season in mid-2025. Reconnaissance surface mapping and lithological drilling completed to date have been successful in establishing the prospective stratigraphy of the target area and have provided invaluable information for a broader exploration programme. The licence is currently subject to a dispute with the previous joint venture partner which has restricted Chibwe from developing the project, and a case has been lodged with the High Court for Zambia to have the existing joint venture terminated, releasing the 100% interest in the licence back to Chibwe. Small and Larger Scale Mine Development The parties anticipate that the collaboration could rapidly progress towards small scale mining. Any small-scale mining operation developed will utilise Wildstone's own contractors, and the capital funding for the operation of USD 200,000 will be provided by Xtract, who will be allowed to recover the initial capital by being paid 75% of free cashflow. Australia Bushranger Cu-Au Project, Lachlan Fold Belt, New South Wales A two-stage review of potential ore pre-concentration methodologies was completed in the previous reporting period by Altrius Consulting Pty. The study concluded that coarse particle flotation tests, using advanced NovaCellTM kinetic flotation equipment technology provided the best results, yielding 78% of copper mineralisation into only 5% of copper mineralisation into Only 5% of the mass, achieving an average average of the mass,000,000,000,000. New Risk • Sep 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£7.71m market cap, or US$10.4m). Tillkännagivande • Jul 25
Xtract Resources plc Announces Successful Completion of 90-Day Reconnaissance Programme on the Antimony Exploration Licences Held by Wildstone Sarl The Board of Xtract Resources Plc announced the successful completion of a 90-day reconnaissance programme on the antimony exploration licences held by Xtract's 80%-owned venture, Wildstone SARL ("Wildstone"). The licences are located within the Fez-Meknes and Beni Mellal-Khenifra directorates of northern Morocco, situated within two strategic districts inside the "Antimony Triangle," an area bounded by the cities of Rabat, Fez, and Khenifra. Together, the licences cover approximately 380 square kilometres, incorporating areas of known antimony mineralisation, newly identified mineralised structures, potential extensions of antimony-bearing veins, and several former commercial producing mines. Wildstone is now commencing with a focused exploration programme across identified high-priority targets. Exploration activities are being led by Xtract's technical team, in collaboration with newly appointed Moroccan geologists who have appropriate expertise in antimony exploration and mining. The Company is also working closely with a Moroccan-based exploration service provider, responsible for conducting ground geophysical surveys, diamond drilling, and associated fieldwork. The current exploration team of 7 persons will be joined by a mining engineer. Additionally, Xtract is actively building partnerships with small-scale miners operating within and nearby its licences, building on the experience and local knowledge of its Moroccan partners in the sourcing, processing, and trade of antimony ores. Xtract continues to engage with the relevant ministries as well as local landowners and the small-scale mining community. Project Highlights: Reconnaissance completed over all Wildstone's exploration licences across two major districts within Morocco's Antimony Triangle, many exhibiting significant potential antimony mineralisation, historical workings, or prospective structural extensions of known antimony vein systems. Active and historic small-scale mining confirms the widespread presence and prospectivity of antimony mineralisation within the licensed areas. Ground magnetic orientation surveys completed on known mineralised structures to establish geophysical signatures for antimony targets which can now be rolled out to all licences in the portfolio. On 26 February 2025, Xtract announced that it had acquired a 50% share in Wildstone. Under the terms of the agreement ("Agreement"), Xtract committed to spend USD 900,000 over a period of 3 years which will make up the minimum spend on the licenses. On 15 July 2025, Xtract announce that as provided for in the Agreement, it had increased its interest in Wildstone to 80%. With the addition of the New Licences, Xtract has committed a further USD 300,000 for exploration expenditure (being the minimum spend on the New Licences). Wildstone and Xtract intend initially to evaluate all 24 licences and thereafter establish the next exploration and development priorities. Once priorities are established, general exploration, including drilling, will commence and based on results, appropriate projects will be advanced into either small-scale production or in the course of time evaluated for large scale potential. Wildstone has to date has employed a seven strong exploration team, to be complemented by the appointment of a mining engineer. Subject to exploration results, Wildstone envisages the employment of mining and mineral processing personnel to manage future operations in Morocco. Tillkännagivande • Jun 19
Xtract Resources plc Provides Silverking Project Update The Board of Xtract Resources Plc provided an exploration update on the Silverking Project located in the Mumbwa District of the Central Province of Zambia. Silverking is subject to an option and joint venture agreement ("Joint Venture") with Oval Mining Limited, enabling Xtract to earn-in up to a 70% interest in the Silverking copper mine and accompanying exploration licence located in the Mumbwa district of the Central Province ofZia. The current drilling programme forms part of the work required to achieve an initial 51% interest in the Project. Main Body: A strike length of 260 metres based on current drilling with mineralisation intersected over downhole widths of more than 25 metres; Borehole SKIDD010: 5.99% Cu, 40.22g/t Ag over 24.1m from 111.0m; Borehole SKIDD012: 4.09% Cu, 15.49g/t Ag over 10.1m from 88.9m; Results pending on a further 8 drill holes; New Discovery: SKIDD018 intersected mineralisation at a shallow depth indicating the presence a new mineralised body oriented sub-parallel to the Main Body. Borehole SKIDD010; 5.99% Cu,40.22g/t Ag Over 24.1m from 111.,0m; Borehole SK IDD012: 4.09%. 15.49g/tAg over 10.1m from88.9m; Results pending On a further 8 drill holes; new Discovery: SKIDD018 intersections at a shallow depth indicating the absence of a mineralised body located at an approximate depth of 40 to 50m below surface aligned perpendicular to the sub-vertical Main Body; The ground VTEM survey has quickly defined a substantial target that can now be drilled with a high degree of accuracy; The VTEM equipment has been temporarily located to another Xtract property and will be returned to Silverking once planned drilling has been completed and outstanding assays have been received. Once assays have been received for drill holes SKIDD013 to SKIDD020, the information will be assessed to improve the definition of the Main Body. Drilling is being planned for the shallow body located parallel to the Main Body; A total of 2,000 metres of drilling is planned for the shallow body locatedallel to the Main Body; An access road and drill pads are required to complete this programme which is expected to take several weeks to construct; Additional ground VTEM surveys are planned particularly targeting blind mineralisation buried beneath sand cover. Joint Venture Agreement: Xtract entered an initial 18-month option period to acquire a 51% interest in the project, contingent upon fulfilling expenditure commitments of USD 500,000. With the completion of the current phase of drilling that expenditure threshold has now been reached. Xtract has the option to increase its interest to 70% by expending an additional USD 1,000,000 over the subsequent two years, subject to Cooperlemon's right to maintain its interest in the licence through its option to earn back to Silverking. Tillkännagivande • May 02
Xtract Resources Plc Provides Silverking Project Drilling Update The Board of Xtract Resources Plc reported further assay results for the second batch of diamond drillholes completed on the Silverking Project located in the Mumbwa District of the Central Province of Zambia. Silverking is subject to an option and joint venture agreement ("Joint Venture") with Oval Mining Limited, enabling Xtract to earn-in up to a 70% interest in the Silverking copper mine and accompanying exploration licence located in the Mumbwa District of the Central Province of Zambia. Highlights: Continued high-grade copper and silver intercepts over significant mineralised widths. Borehole SKIDD004: 1.50% Cu & 20.25g/t Ag over 40.2m from 71.80m. Borehole SKIDD005: 4.73% Cu & 55.08g/t Ag over 3.7m from 68.0m. Borehole SKIDD005: 0.58% Cu & 2.31g/t Ag over 27.0m from 107.0m. Borehole SKIDD006: 0.56% Cu & 10.33g/t Ag over 3.3m from 69.0m. Strike length of the mineralised trend now extended to more than 160m in length. Metallurgical test work now extended to include upgrading and pre-concentration of lower grade footwall and hangingwall mineralisation using gravity processes (spirals and jigs) to generate a pre-concentrate for final processing at a centralised facility. Amenability of lower grade mineralisation has the potential to materially increase production tonnage and copper output subject to successful test work. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£6.85m market cap, or US$9.07m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Tillkännagivande • Mar 13
Xtract Resources Plc Announces Silverking Project Drilling Update The Board of Xtract Resources Plc confirmed the successful completion of the first three diamond drill holes SKIDD001, 002 and 003 at Silverking and the interception in drill core of copper mineralisation over near-continuous downhole lengths of 46.4 metres, 95 metres and 66.2 metres respectively. Silverking is subject to an option and joint venture agreement ("Joint Venture") with Oval Mining Limited, enabling Xtract to earn-in up to a 70% interest in the Silverking copper mine and accompanying exploration licence located in the Mumbwa District of the Central Province of Zambia. Highlights: · Drill hole SKIDD001 intersected what is described in core logs as significant sulphide mineralisation comprising chalcopyrite, bornite and chalcocite over a drill intercept width of 46.4m from a depth of 93.6m. · Drill hole SKIDD002, drilled approximately 30m below SKIDD001, intersected strong oxide copper mineralisation over a width of 38.2m and a further 56.8m sulphide intersection for a combined 95m mineralised package from a depth of 28m. · Drill hole SKIDD003 intersected semi-continuous oxide and sulphide mineralisation over a substantial width of 66.2m from a depth of 93m. · Drilling is continuing with a focus on establishing the morphology of the main pipe-like structure before moving on to drill a second pipe and other structures within the Project area. · The bornite and chalcocite intercepts together with native copper are encouraging ahead of scheduled copper assays. Silverking Project: As announced on 3 April 2024, Xtract entered into a joint venture agreement with Oval Mining in relation to the Silverking Project and licence. Silverking mineralisation is characterised by deep levels of intense oxidation, breccia, vein and stockwork hosted copper mineralisation and is distinguished by high-grade supergene enrichment, also diagnostic of the nearby Kitumba deposit. The former Silverking open pit and underground mine extends to a mining depth of only 70m and based on underground mapping and historic diamond and reverse circulation ("RC") drilling is believed to remain open both down-dip and along strike. Historic peak Silverking reported drill intercepts including 50m @ 5.47% Cu in borehole SVKRC002 from 55m to 105m depth. The hole stopped in mineralisation. Mineralised intercepts peaked at 52.2% Cu over a 1m drilled interval. A wide-spaced geochemical soil survey supplemented by magnetic and IP ground geophysical surveys undertaken by Glencore identified a number of high priority targets warranting follow-up. In particular, a second breccia pipe located 800m from the main Silverking mineralised body was identified and has not been explored. Evidence at surface suggested possible stockwork or disseminated copper mineralisation between the two breccia pipes. Xtract's proposed exploration work will focus on testing the depth extension of the Silverking breccia pipe, the nearby pipe and general licence exploration. New Risk • Feb 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£4.28m market cap, or US$5.39m). Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Kjeld Thygesen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jul 30
Xtract Resources plc Provides an Update on Exploration The Board of Xtract Resources Plc provided an update on exploration taking place on Licenses 29123-HQ-LEL, 30458-HQ-LEL, 30459-HQ-LEL, 21850-HQ-LEL and 21851-HQ-LEL located in NW Zambia within both the Western Foreland and Fold & Thrust Belt domains. The following work has been completed to date: Detailed mapping and ground truthing undertaken in prospective terrain within the Western Foreland domain where lithological units are most likely to foster redox fronts and therefore potential for Kamoa-Kakula style mineralisation. Follow up investigations and reconnaissance carried out within the Fold & Thrust Belt domain identifying the origins of surface artisanal mining activity and other copper showings and targeting mineralised rafts typical in the FTB. Selecting and prioritising drill collar positions for follow up drilling on all Xtract's NW Zambian licences. Compilation of all permits and approvals and the updating of local chiefdoms, facilitated by Cooperlemon Consultancy, Xtract's partner in the Licences. Tillkännagivande • Jul 10
Xtract Resources Plc, Annual General Meeting, Jul 31, 2024 Xtract Resources Plc, Annual General Meeting, Jul 31, 2024. Location: fladgate llp, 16 great queen street, wc2b 5dg, london United Kingdom New Risk • Jun 30
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 10% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£8.14m market cap, or US$10.3m). New Risk • Jun 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (UK£7.28m market cap, or US$9.21m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (UK£1.5m revenue, or US$1.9m). Tillkännagivande • Jun 20
Xtract Resources plc Announces the Results ofSecond Stage Review of Pre-Concentration Options for the Bushranger Project in the Lachlan Fold Nsw, Australia Xtract Resources Plc announce the results of a second stage review of pre-concentration options for the Bushranger project in the Lachlan fold NSW, Australia prepared for the Company by Altrius Consulting Pty ("Altrius"). Highlights: The Altrius review concluded that while the Racecourse mineralisation is not considered amenable to upgrade by Tomra ore sorting, other methods of ore sorting/pre-concentration may be more suitable and the Bushranger flowsheet may benefit from alternative pre-concentration technologies. To this end Altrius has recommended further test work on Pre-Screening, Gravity Separation and Coarse Particle Floatation. Accordingly, test work is now being undertaken by ALS in Perth on Pre-Screening and Dense Media Separation (two separate tests). In addition, the Company has commissioned NovaCell Coarse Particle Floatation test work, and this work is progressing favourably. As previously reported, the Bushranger Racecourse project has the potential to be economically mined at rates of 20Mtpa or greater at USD10,000 per tonne copper price or above. The objective of the current work is to re-assess the breakeven copper price for the Project. The Company will provide an update on the initial results which are expected before the end of the third quarter of this year. New Risk • Jun 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.71m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (UK£7.71m market cap, or US$9.79m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (10% average weekly change). Revenue is less than US$5m (UK£1.5m revenue, or US$1.9m). New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 18% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (UK£1.5m revenue, or US$1.9m). Market cap is less than US$100m (UK£8.78m market cap, or US$10.9m). Reported Earnings • Oct 02
First half 2023 earnings released: EPS: UK£0.001 (vs UK£0 in 1H 2022) First half 2023 results: EPS: UK£0.001 (up from UK£0 in 1H 2022). Net income: UK£621.0k (up UK£649.0k from 1H 2022). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Tillkännagivande • Jul 22
Xtract Resources plc Announces Bushranger Pre-Concentration Test Results Xtract Resources Plc announced the results from a study to determine the applicability of the ‘TOMRA’ method to pre-concentrate copper-gold mineralisation from the Racecourse Mineral Resource on the Bushranger Copper-Gold Project (‘Project’) in central New South Wales, Australia. Bushranger Project TOMRA Pre-Concentration Study Following conclusion of the Phase 2 drilling programme on the Bushranger Copper-Gold Project in central New South Wales, Australia, and the finalisation of the upgraded Mineral Resource for the Racecourse Prospect, Xtract undertook pre-concentration test work on five composite samples from four drill holes. Pre-concentration of mineralisation reduces the amount of material needed to be milled and placed through a flotation processing plan, which in turn can reduce pre-production capital and operating costs, with subsequent improvements in the overall economic performance of a project. Xtract engaged TOMRA Sorting Solutions (‘TOMRA’) of Sydney, Australia, to undertake the pre-concentration test work on the five samples. Data was collecting using TOMRA's COM X-Ray Transmission (‘XRT’) system. The COM XRT system detects mineralised particles and then sorts the material into a pre-concentrated product and waste using amplified mechanical, hydraulic or pneumatic processes. The sorter is set up /trained using images taken of the samples. The images are then analysed using proprietary TOMRA image processing software. Based upon the images sorting task specific algorithms are then developed and applied to sorting the mineralised material. For the training of the XRT sorter, samples were exposed to high energy X-rays, which project an image onto a sensor. The X-ray sensor signal depends on atomic density and material thickness and gives information on the inner composition of the particles. By combining two energy levels simultaneously, it is possible to differentiate particles by their atomic densities and then separate material into a pre-concentrated product and waste. The primary sorting task was to produce a high-grade product fraction by way of sulphide classification and ejection in a single stage for each sample. All runs conducted for this set of test work were ‘Dual-Energy’ XRT runs. This form of processing is designed to classify and eject relatively high-density sulphides away from the relatively low-density host-rock. All samples were screened to a 20-40mm particle size with the exception of Run 1 (BRDD21_010_Comp) which was run at 25-75mm. All five samples processed with TOMRA achieved upgrades to the copper and gold content of the pre-concentrated ore, while rejecting significant volumes of waste material, with one higher grade sample (Run 4) being an outlier. Excluding the outlier, the average original grade of the four samples of copper-gold mineralisation was 0.23% Cu, while the average grade of the pre-concentrated mineralisation was 0.35% Cu, which shows a grade uplift of 52%. The average mass yield was 36%, meaning that 64% of the original mass of the sample was rejected into the waste product, suggesting that it will be possible to greatly reduce the volume of material needed to be processed through the milling and floatation circuits of a processing plant. The TOMRA pre-concentration results do exhibit a significant amount of variability depending on the quantity of sulphides in the original composite drill core samples. The outlier was Run 4, which had the highest original feed grade material (0.52% Cu), achieved the highest sorted product grade (0.94% Cu), but in a very low mass (mass yield of 5.1%). This suggests that higher-grade material may not benefit from ore sorting to the same extent as the more typical deposit grades and would be more suited to direct processing. The results overall show the potential of the TOMRA system to significantly increase the copper grade into a pre-concentrated product while rejecting potentially over 50% of the original rock mass into waste. The variability of the results indicate that more samples would need to be tested in order to determine an accurate average overall effect for TOMRA pre-concentration. The pre-concentration results are sufficiently positive for the effects of TOMRA pre-concentration to be incorporated into the overall financial model for the Bushranger Project. Consequently, Xtract has engaged Optimal MiningSolutions (Pty) Ltd. of Australia (‘Optimal Mining’)to incorporate the TOMRA results into an updated economic model for the overall Bushranger Project. Tillkännagivande • Jul 06
Xtract Resources Plc, Annual General Meeting, Jul 28, 2023 Xtract Resources Plc, Annual General Meeting, Jul 28, 2023, at 13:00 Coordinated Universal Time. Location: Fladgate LLP, 16 Great Queen Street London United Kingdom New Risk • Jul 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£5.4m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 20% per year over the past 5 years. Minor Risks Revenue is less than US$5m (UK£2.1m revenue, or US$2.7m). Market cap is less than US$100m (UK£12.0m market cap, or US$15.2m). Reported Earnings • Jun 30
Full year 2022 earnings released: UK£0.002 loss per share (vs UK£0.004 loss in FY 2021) Full year 2022 results: UK£0.002 loss per share (improved from UK£0.004 loss in FY 2021). Revenue: UK£2.81m (up 306% from FY 2021). Net loss: UK£1.83m (loss narrowed 42% from FY 2021). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Tillkännagivande • Jan 27
Xtract Resources Plc Provides Update on Kakuyu Copper Project Zambia The Board of Xtract Resources Plc provided shareholders with an update on the Kakuyu copper joint venture project located approximately 53km north-west of the town of Mumbwa, Central Province of Zambia. The Kakuyu Project is located approximately 53km north-west of the town of Mumbwa, Central Province of Zambia, in a region well-known for mining including the nearby mines and occurrences of Sable Antelope, True Blue, Crystal Jacket, Maurice F Gifford, Lou Lou, Silverking and Kamiyobo. The most recent discovery is the Iron Oxide Copper Gold Kitumba project. The Kakuyu Project is covered by two mineral licences, one small-scale mining licence 29805-HQ-SML issued to Kakuyu Mining Limited which is valid until 7 November 2031 covering an area of 201.78 hectares and a second small-scale mining licence currently under application by Kakuyu Mining Limited over an adjoining area of similar size. The Kakuyu Project has been operated at various times in the past by both small-scale commercial and artisanal miners. There has been limited exploration to date of the Kakuyu Project which provides Xtract with an opportunity to make fresh discoveries in an under-explored but prospective region. The Kakuyu Project is centred around the Kakuyu Hill pit and a large hematitic lens found in a fault-controlled setting which is understood either to be a shear hosted Cu-Au deposit or an oxidised post orogenic IOCG deposit, or a combination thereof. The extension of the lens feature with depth is not currently known although the hematitic lens may extend to the west, along strike of the mapped iron unit. Field investigations showed similar features, structures and alteration in the western diggings, outside of the larger Kakuyu Hill pit. There is also a potential for mineralisation to the north of the hill as the area is highly faulted with a smaller wedge of older dolomites sitting within the younger meta-sediments which could form fluid traps. Copper occurs as both oxides and sulphides on fractures, in breccias and as stockworks. The Kakuyu Hill pit has been worked historically (although there is no historic data) to the extent that benches have been put in place to open up the pit. There are also underground artisanal workings with tunnels and a collapsed shaft. Oval Mining has currently removed bulk samples of the potential higher-grade sulphide ores from the pit which have been hand-sorted and stockpiled on site, targeting grades of 3.5-4% Cu. A site has also been created south of the pit for the new waste rock dumps. The deposit type and mineralisation mechanisms are not yet clear from initial field observations and Xtract plans an exploration programme to understand further the type of deposit and mineralisation potential at Kakuyu. This programme is likely to comprise initially a detailed ground IP and/or EM geophysics survey with follow up drilling on identified targets. Reported Earnings • Sep 30
First half 2022 earnings released: EPS: UK£0 (vs UK£0.004 loss in 1H 2021) First half 2022 results: EPS: UK£0 (improved from UK£0.004 loss in 1H 2021). Net loss: UK£28.0k (loss narrowed 99% from 1H 2021). Reported Earnings • Jul 02
Full year 2021 earnings released Full year 2021 results: Net loss: UK£3.13m (loss widened 243% from FY 2020). Recent Insider Transactions • Aug 25
Executive Chairman recently bought UK£72k worth of stock On the 23rd of August, Colin Bird bought around 2m shares on-market at roughly UK£0.035 per share. This was the largest purchase by an insider in the last 3 months. Colin has been a buyer over the last 12 months, purchasing a net total of UK£187k worth in shares. Reported Earnings • Jun 29
Full year 2020 earnings released: UK£0.002 loss per share (vs UK£0.003 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: UK£1.75m (up 30% from FY 2019). Net loss: UK£914.0k (loss narrowed 16% from FY 2019). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Apr 22
Executive Chairman recently bought UK£57k worth of stock On the 19th of April, Colin Bird bought around 1m shares on-market at roughly UK£0.057 per share. In the last 3 months, they made an even bigger purchase worth UK£58k. Colin has been a buyer over the last 12 months, purchasing a net total of UK£115k worth in shares. Recent Insider Transactions • Feb 27
Executive Chairman recently bought UK£58k worth of stock On the 25th of February, Colin Bird bought around 1m shares on-market at roughly UK£0.058 per share. This was the largest purchase by an insider in the last 3 months. This was Colin's only on-market trade for the last 12 months. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of UK£957.0k, with losses widening by 47% from the prior year. Total revenue was UK£1.16m over the last 12 months, down 6.7% from the prior year. 
