xtract resources
petroleum resources, coal resources, uranium and thorium resources, geothermal energy, renewable energy resources, basin geology, acreage release .
xtract resources seeks new contractor for western half of manica concession xtract resources updates on operations at manica concession xtract resources reports increase in quarterly gold sales from manica project investors patiently awaiting further flows from xtract resources' manica... xtract resources strikes new deal with contractor for mozambique gold operation
xtract resources engages in the exploration, development and production of gold and copper properties. xtract resources is a public company. for every employee, xtract resources generates $ 9k in revenue. xtract resources has received a total of $ 6. 9m in funding. xtract resources has 1 followers on owler .
xtract resources plc ord 0. 02p xtract is listed in the ftse aim all - share xtract is part of the metals sector
owler has collected 12 screenshots of xtract resources' website since jun 2014. the latest xtract resources website design screenshot was captured in sep 2017 .
resources groups led the way on wednesday, with edge resources (lon: edg) and xtract resources (lon: xtr) lighting up the aim leaderboard .
since xtract resources was founded in 2004, it has participated in 1 round of funding. in total xtract resources has raised $ 6. 9m. xtract resources' funding round was on jun 2015 for a total of $ 6. 9m
shares in xtract resources fell 12% at 2. 20 pence on wednesday .
update - xtract resources buys mozambique prospect for us $ 12. 5mln | lon: xtr
xtract resources plc is a diversified metals and minerals producer based in london, united kingdom .
xtr. l historical prices | xtract resources plc ord 0. 02p stock - yahoo finance
xtract resources shares were up 4. 4% at 0. 2872 pence thursday morning .
xtract resources engages in the exploration, development and production of gold and copper properties. xtract resources was founded in 2004. xtract resources' headquarters is located in london, england, gb sw7 2je. it has raised 6. 9m in 1 round. the l ...
colin bird held the position of executive chairman at xtract resources at the time of this trade .
sandra platts held the position of group coo at xtract resources at the time of this trade .
xtract resources plc’s (lon: xtr) chairman tells proactive that the metals explorer is ...
xtract share price. xtr - stock quote, charts, trade history, share chat, financial terms glossary. xtract resources plc ord 0. 02p
london (alliance news) - gold and copper mining company xtract resources plc said on wednesday ...
london (alliance news) - xtract resources plc thursday said global oil shale group plc has ...
london (alliance news) - xtract resources plc thursday said it sold five million shares in oil ...
xtract resources plc (lon: xtr) provided the market with an update on the disposal of its ...
xtract resources said the deal with omnia gives the company
the opportunity for a fast track hard rock operation
.
on 25 june 2013, the company changed its name to xtract resources. it was refocused into a mining industry .
* xtract resources plc. an independent technical report on the mineral resources of the fair bride gold deposit on the 3990c mining concession, manica province, mozambique, minxcon, 04 march 2016
jonathan (jon) bridel held the position of non - executive director at xtract resources at the time of this trade .
xtract resources plc (lon: xtr) share price | rns news, quotes, & charts | xtr. l |
jan nelson, chief executive of xtract resources plc (lon: xtr), says the sale of the ...
xtract resources (lon: xtr) has bought a new project in mozambique scheduled to become the country’s first commercial gold mine .
beaufort securities breakfast alert: andalas energy and power plc, altus strategies, bezant resources plc, harvest minerals ltd. , jangada mines plc, lionsgold, mineral & financial investment limited, xtract resources plc
proactive investors limited - xtract resources plc (lon: xtr) share price | rns news, quotes, & charts | xtr. l |
the operator of the project is explorator lda. , a wholly - owned subsidiary of xtract. gross and net attributable resources are the same .
xtract resources plc is a public limited company from london england and has the status: active. xtract resources plc was incorporated 13 years ago on 22 / 10 / 2004 and has the registered number: 05267047. the accounts status is group and accounts are next due on 30 / 06 / 2018 .
7. the operator of the project is explorator lda. , a wholly - owned subsidiary of xtract. gross and net attributable resources are the same .
xtract resources (lon: xtr) has signed a joint venture with a company called mineral technologies international to mine alluvial gold at the manica project in mozambique .
xtract resources plc (lon: xtr) has pulled the plug on its chepica gold mine in southern chile after deciding the costs and technical challenges made it unviable .
xtract will provide its full support to gos and xosm in seeking the consents required for completion of the sale of xtract’s interest in xosm .
xtract resources on monday said its mozambique subsidiary explorator has agreed a mining contractor deal with omnia mining and moz gold group limitida for its manica mining concession in the company .
xtract resources (lon: xtr) says it is mining ore at record levels from its chepica gold mine in chile now that it has opened up three more levels .
auroch minerals have played hardball with aim listed xtract resources over an unpaid debt owing to auroch for the sale of the manica gold project in mozambique in march last year .
global oil shale also in process for acquiring 70% holding in xtract energy (oil shale) morocco s. a. from xtract energy plc
a channel commited to mozambique extractive industry development through access to information under the umbrella of accountability, good governance, transparency and sustainable development in the natural resources exploration. view all posts by mozambique resources post
geoscience australia provides information and advice towards the management of australia' s groundwater and surface water resources .
the essential idea behind the latest transaction from xtract resources plc (lon: xtr) is to provide short - term cash - flow, according to executive chairman colin bird .
london (alliance news) - xtract resources plc thursday said it sold five million shares in oil shale development and processing company global oil shale group plc for gbp1. 2 million .
the share purchase agreement (“spa”) in respect of xtract oil limited (“xol”) sets out the detailed and legally binding terms and conditions subject to which gos hasacquired 100% of the issued and outstanding shares in xol from xtract. xtract’s rights over the julia creek tenements are held in xol under an existing agreement between xtract energy plc and intermin resources ltd. as part of this transaction xtract will assign to xol all of its rights in relation to the julia creek shale assets .
xtract to focus on its core strategy of seeking conventional oil and gas opportunities .
group eleven resources hails maiden resource for stonepark project of 5. 3mln tonnes at 11. 15% zinc a
xtract resources plc on tuesday said its mozambican subsidiary explorator limitada has secured its second mining contractor agreement with sino minerals investment co ltd for the exploitation of alluvial gold deposits at its manica mining concession .
xtract will also pay auroch a usd $ 50, 000 fee that will be fully satisfied by xtract script issued to auroch at a 15% discount to market .
in may 2012, xtract transferred its holdings in zhibek resources to caspian oil & gas (now: equus mining limited) in exchange of a minority shareholding in that company, and exit from kyrgyzstan .
xtract’s shares rose by more than 20% on the news to 0. 3p .
he joined xtract resources in late 2013 but resigned abruptly in september last year allegedly after a bust - up with chairman colin bird over bird’s decision to shut down the chepica gold / copper mine in chile .
london (alliance news) - xtract resources plc thursday said global oil shale group plc has decided to exercise its option to buy back a 1% net smelter royalty in return for shares, meaning xtract' s gos stake will rise to 7. 6% , worth about gbp2. 95 million .
in december 2012, xtract energy disposed its oil shale interests by transferring 100% stake in xtract oil limitedand 70% stake in xtract energy (oil shale) morocco s. a. to global oil shale group limited in exchange of the strategic stake in that company .
xtract energy plc (julia creek project (north), northwest qld) has scaled back investment in the development of the xtract technology, a hydrogen and supercritical solvent extraction process .
global oil shale group limited (“gos”) announces that its negotiations with xtract energy plc (“xtract”) with regard to xtract’s large scale 2. 18 billion barrel oil shale tenements at julia creek in queensland, australia, have successfully concluded with the signing of legally binding agreements .
xtract resources plc (lon: xtr) shares jumped more than 60% on tuesday after it told investors that the group’s mozambique subsidiary, explorator limitada, has signed a second mining contractor agreement for the manica gold project .
teaching resources for primary and secondary levels including background information, student activities, full - colour cut - out 3d models and posters .
5. the inferred mineral resources have a large degree of uncertainty as to their existence and whether they can be mined economically or legally .
xtract resources (aim: xtr) is a resource, development and mining company whose focus is and will be to acquire brown field resource projects with a view to release value for its shareholders. the projects targeted will be in ...
after quitting london - listed junior miner xtract resources last september – and moving to paternoster on the west coast to set up a micro - brewery and pursue a “less - stressed lifestyle” – jan nelson has returned to the mining game once again .
explorator limitada, a subsidiary of the xtract resources group, has hired omnia mining and the moz gold group to mine alluvial gold deposits in the mining concession it owns in manica, in central mozambique, the group announced in a statement in london .
and director of xtract resources plc, with more than 40 years experience mainly in hard rock mining, is the qualified person as defined in the guidance note of the london stock exchange, who has reviewed the technical information contained in this press release .
“the disposal of julia creek and the sale on xtract energy (oil shale) morocco s. a. to gos will enable xtract management to concentrate the focus of the company on conventional oil and gas opportunities .
xtract sold the julia creek asset to gos last year in return for 6 million shares in the company .
consideration for the transaction includes 500, 000, 000 xtract common shares valued at £1, 250, 000. in addition, xtract assumed approximately usd $ 1. 25 million of liabilities associated with the chilean entity .
london (alliance news) - gold and copper mining company xtract resources plc said on wednesday its broker beaufort securities ltd has raised gbp1. 3 million through the placing of 76. 5 million shares in the company at a price of 1. 7 pence each .
xtract resources has signed a heads of agreement (' hoa') to enter into a proposed joint venture (' jv') with polar star mining corporation on the mejillones phosphate and uranium property in chile. upon completion of certain technical work and capital expenditure from existing cash resources, xtract will have the right to earn - in up to 75% of the property, which covers approximately 16, 400 hectares, with the potential to buy the remaining 25% stake from polar star. this transaction marks the ...
' xtract' s oil shale tenements in julia creek, with approx. 2 billion barrels of shale oil resources, provide us with a large scale and potentially long term opportunity for oil shale processing. gos appreciates the opportunity and we are looking forward to co - operation with xtract over the coming months as we develop our plans and testing for oil production at julia creek .
strategic alignment of xtract’s interest in julia creek with gos as an investor and developer for the julia creek deposit .
on aim, xtract shares climbed 1. 25p or 62. 5% to trade at 3. 25p .
other major mining discoveries in mozambique include graphite, discovered by syrah resources (australia). syrah resources is expected to make their first shipment in the second half of 2017. they aim to have 40% market share of the worldwide graphite with production capacity of 350000tons mostly targeted to the chinese and u. s. markets. moreover, baobab resources (australia) is developing a pig iron project in tete province to supply iron and steel for regional infrastructure projects .
both agreements will attract a 10% interest rate that will be paid to auroch by xtract quarterly in advance and xtract will seek shareholder approval to convert the $ 1m loan to a convertible note on similar terms by june 2017 .
johannesburg (miningweekly. com) – the mining contractor activity at aim - listed xtract resources’ manica concession area, in mozambique, is progressing “favourably”, with initial mining of the alluvial gold deposits expected to start at the end of this month, the company reported on wednesday .
jan nelson, xtract’s chief executive said :
the fair bride project will allow the company to generate significant revenues .
shares in xtract were up 21% at 0. 0169 pence monday, one of the best performers on aim .
share purchase agreement in respect of xtract energy (oil shale) morocco s. a. the share purchase agreement in respect of xtract energy (oil shale) morocco s. a. sets out the detailed and legally binding terms and conditions on and subject to which gos is willing to acquire 70% of all issued and outstanding shares in xtract energy (oil shale) morocco s. a. from xtract, subject to first obtaining all regulatory and joint venture consents .
colin bird, director and chief executive officer of polar star is also executive chairman of xtract. mr. bird has an insignificant interest in the issued share capital of polar star and xtract and recused himself from any involvement in the transaction .
xtract’s subsidiary will be due 25% of the mined gold, which will amount to 19% after mining production tax .
xtract resources (aim: xtr) is a resource, development and mining company whose focus is and will be to acquire brown field resource projects with a view to release value for its shareholders. the projects targeted will be in regions where mining and infrastructure is prevalent and the mining regulations transparent .
under the terms of the settlement agreement auroch have locked xtract up in a number of ways in order to secure their position .
in october 2006, xtract energy purchased 19. 5% of wasabi energy ltd, 18. 6% of aviva corporation (not affiliated with aviva energy corp .) and 28. 2% of cambrian oil & gas from cambrian mining. later, cambrian oil & gas merged to xtract through which xtract got shareholdings in meo australia ltd and elko energy, and ownership of zhibek resources, a company involved in oil and gas activities in kyrgyzstan. in august 2007, xtract sold its interests in aviva corporation to wasabi energy in exchange for new shares and warrants in wasabi. the shareholding in wasabi was sold in 2009. at the same year, the shareholding in meo australia was sold .
the convertible note can be converted into xtract shares at a 15% discount to market at auroch’s election subject to a 15% floor price and failing that, xtract have agreed to repay it and the usd $ 1m loan by the 31st of december 2017 .
auroch chairman glenn whiddon who was responsible for thrashing out the deal with xtract said “auroch is pleased to have reached a resolution with xtract on the outstanding payment. this will give xtract the opportunity to complete a definitive study while at the same time provide auroch with a regular cash flow to fund ongoing exploration and business development activities, while maintaining its cash balance of a $ 6 million. ”
in addition, xtract has issued 7. 6 million broker warrants to beaufort securities, exercisable at 1. 7p until august 2019 .
xtract energy had 19. 4% in wasabi energy, which through its subsidiaries was involved in uranium, geothermal and coal activities .
polar star mining corporation (tsx: psr) (
polar star
or the
company
), a toronto - based company focused on gold and copper exploration with operations in chile, announced that it has completed the sale of its chepica gold and copper mine located 300km south of santiago chile to xtract resources plc (xtract), an aim listed company, under the terms of a sale and purchase agreement entered into december 12, 2013 .
' global oil shale group is evaluating a number of the world' s oil shale resources that can provide us with the opportunity for large scale, long - term commercial shale oil production .
xtract energy' s (lon: xtr) new chief executive jan nelson got a resounding vote of confidence from the market with the company' s shares up by more than 38% in late afternoon trading. nelson has more than 15 years' experience in the mining industry more recently as ceo of pan african resources where he was responsible for transforming the company from an exploration vehicle with little cash resources to a 200, 000oz per annum low cost, high grade precious metals dividend paying mining company... .
xtract energy has announced that paul butcher, non - executive director, has resigned from the board with immediate effect. story provided by urltoken
xtract energy said it has assigned its oil shale rights in the julia creek project in australia to global oil shale group (gos) for an equity stake in the latter company totalling 6 million shares. in a related deal, xtract is selling its 70% stake in xtract energy (oil shale) morocco s. a. to gos, subject to certain conditions .
these two transactions result in the alignment of both companies' strategic objectives ,
xtract said in a statement. the conditions relating to the morocco s. a... .
in chile, xtract develops the chépica gold and copper mine. as of november 2015, gold reefs have been discovered at salvadori and colin prospects, while the development of the chepica prospect had reached a depth of. the full ownership of the project would transferred to xtract by december 2016. together with mineral technologies international, xtract develops the fair bride open pit project, a part of the manica gold licence in mozambiue .
the arrangement with sino minerals investment company has been hired to mine the eastern half of the alluvial interest in the manica concession, xtract said .
in 2014, xtract bought the chepica gold and copper mine in chile. the deal included also the acquisition of the mejillones phosphate deposit; however, that deposit was resold to mines global later at the same year. in 2015, xtract bought the manica gold mining project in mozambique .
resource estimates were reviewed to take into account the historic nature of the estimates and losses resulting from processing. australia' s shale oil resources estimates are for recoverable shale oil. paramarginal and submarginal demonstrated resources of shale oil as at the end of 2011 are 213 gigalitres (gl) (about 1340 million barrels) and 2074 gl (about 13 050 million barrels) respectively. both figures are unchanged from 2010 .
tomco energy (lon: tom) was another junior riser. it said red leaf resources, its near neighbour in utah, has submitted written notice that it will commence mining on its seep ridge property .
fair bride represents approximately 10% of the total licence at manica and there are significant opportunities to increase the gold resource through exploration, said xtract .
accordingly xtract will not make any future option payments and will relinquish its option and mining rights at chepica on 15 october said executive chairman colin bird .
xtract has no current active interest in any oil or gas properties but has a previous structure in place designed to hold its oil and gas assets .
through zhibek resources, xtract was involved in oil and gas activities in kyrgyzstan, including an exploration of the tash kumyr licence area and development of the beshkent–togap oil field. through the shareholding in meo australia ltd, xtract was involved in tassie shoal methanol project and timor sea lng and gtl projects. through extrem energy, it was engaged in the development of the offshore fields at the gulf of çandarlı and the sea of marmara, and onshore fields of edirne, siraseki, and alasehir / sarakiz in turkey .
nelson and bird have more than a normal working knowledge of manica, having been responsible for discovering its potential while working for pan african resources, and it’s a project that nelson has been keeping close tabs on .
' the challenge for the exploitation of julia creek is one of economic resources, technology / know - how and access to significant capital. julia creek contains oil shale and other minerals making it a valuable resource .
in chile, xtract develops the chépica gold and copper mine. as of november 2015, gold reefs have been discovered at salvadori and colin prospects, while the development of the chepica prospect had reached a depth of 90 metres (300 ft). the full ownership of the project would transferred to xtract by december 2016. together with mineral technologies international, xtract develops the fair bride open pit project, a part of the manica gold licence in mozambiue .
the plan is to mine 32, 000 ounces per year of which 16, 000 will be attributable to xtract under the terms of the joint venture .
if xtract raise capital between now and december 2017 they will have to pay auroch 15% of any funds raised in partial satisfaction of the debt owed .
note: xtract resources plc' s news releases are archived on this web site for historical purposes. information in the stories is accurate at the time of release. however, service offerings and availability, relationships, contacts and other specified information may change over time. information as stated in the release may or may not be in effect after the date on the release .
in july 2014, xtract sold 5 million shares for a total consideration of £1, 188, 679. xtract retains 2, 371, 365 shares and will be allotted a further 1. 5 million shares immediately prior to a listing of gos shares on a stock exchange or market, as per the original agreement .
the suspension of trading in the shares of xtract energy has been restored. the suspension occurred pending clarification of the company' s financial position following unexpected additional cash calls from noreco, the operator of the licences 01 / 11 and 02 / 05 in denmark. xtract has negotiated revised payment terms with noreco and has completed a review of the running costs of the company which will substantially reduce xtract' s annual overheads. tiger resource finance, members of the board ...
as for xtract, which gushed 11% higher in early play to 0. 24p, upbeat updates from its chilean and south african mining projects impressed investors .
in august 2005, resmex acquired sermines de mexico s. a. de c. v. , which owned mineral exploration and development rights in three concessions in the california–sonora gold belt in mexico. in 2006, it acquired xtract oil limited, an australian oil shale company developing the julia creek oil shale deposit, from intermin resources limited. to finance this deal, it issued new shares to cambrian mining, which became the major shareholder of resmex. correspondingly, the company changed its name to xtract energy, starting from 2 may 2006 .
xtract resources has signed a mou with polar star mining corporation that provides an exclusive four - month period for further due diligence and an option to acquire minera polar, which has an earn - in agreement on the chã©pica gold and copper mine and the mejillones phosphate project in chile. xtract has agreed to pay polar star a $ 0. 25m exclusivity fee. polar star, via a 100% owned barbados subsidiary, owns 100% of the chilean company minera polar, which in turn has an earn - in agreement on ...
two other large investment projects are in mining and processing ventures of heavy sands deposits. the moma heavy sands (kenmare resources) and corridor sands (bhp billiton) projects together will require more than usd1 billion in investment .
xtract is currently preparing a bankable feasibility study for a larger open pit mine at manica, and the new project will have the added benefit of removing significant overburden .
in a related transaction, xtract has also agreed to sell its entire 70% interest in xtract energy (oil shale) morocco s. a. to gos, subject to satisfaction of certain closing conditions, including in particular seeking and obtaining the consent of the office national des hydrocarbures et des mines (onhym) and other requlatory approvals in the kingdom of morocco as well as the consent (or buy out) of the other shareholder in xtract energy (oil shale) morocco s. a .
if xtract commit a material breach of the terms then auroch will have the right to convert their shares at a discount of 30% rather than the agreed 15% .
xtract resources is a gold and copper exploration and development company with projects in chile and south africa. at chépica, the management team is focussed on creating mining flexibility in order to deliver consistent production, cash flow and profits. at o’kiep in south africa, the focus is on the work programme in order to carry out drilling and metallurgical test work to confirm the economic potential of this copper tailings project .
xtract energy' s (lon: xtr) shares plunged by more than a third when trading was restored after it secured tiger resource finance (lon: tir) as a new investor. xtract shares were suspended pending clarification of the company' s financial position following unexpected additional cash calls from noreco, the operator of the licences 01 / 11 and 02 / 05 in denmark. xtract has negotiated revised payment terms with noreco and has completed a review of the running costs of the company which will ...
sefton resources' (lon: ser) shares rose after agreed terms with tom winnifrith and daniel levi for the termination of the legal proceedings announced in february. the company has agreed to make undisclosed settlements to mr winnifrith and mr levi. keith morris, a sefton director, stated :
these cases were a distraction. the board is committed to focussing its efforts and resources entirely on realising value for shareholders from our assets, and aims to communicate clearly with shareholders ...
in total, xtract has now raised £9. 125mln for manica, chepica and an option over the o’kiep copper dumps in south africa where drilling is set to start shortly .
“the operations are progressing favourably, and we expect first quarter results for the period ending 31 march 2018 to show an overall improvement in productivity and attributable income to xtract. ”
this week auroch struck what looks like a fiercely negotiated deal with xtract to secure their final usd $ 1. 75m for the manica gold project which now includes outstanding interest .
xtract entered into an agreement on 19 june 2017 with omnia a local gold producer working alluvial deposits nearby the manica concession. the contract entails that omnia be the contractor and operator under the supervision of xtract / explorator personnel. the agreement provides for a gold share between the parties and the key terms are detailed in the rns announcements dated 19 june 2017 .
64 ozimic, s. and saxby, j. d. , 1983. oil shale methodology: an examination of the toolebuc formation and the laterally contiguous time equivalent units, eromanga and carpentaria basins. bureau of mineral resources and csiro research project .
chepica was the linchpin of the company’s original strategy to generate cashflow quickly, but xtract now does not think the mine can consistently produce 10, 000 ounces of gold per year .
through xtract oil, the company developed the 709 - square - kilometre (274 sq mi) julia creek oil shale concession area in queensland, and oil shale deposits in new zealand. in 2013, xtract oil was transferred to the global oil shale group. to extract oil from the julia creek oil shale resource, the galoter process was proposed. at the same time, xtract technologies, a subsidiary ofxtract oil, developed a supercritical solvent shale oil extraction technology which is a type of the donor solvent technology. in this process, oil shale would processed in enclosed vessels in the presence of hydrogen solvents. the company claimed that the process would carried out at moderate temperatures that do not liberate carbon dioxide. through a 70% stake in xtract energy (oil shale) morocco sa, a joint venture with alraed of saudi arabia, xtract energy evaluated an oil shale deposit near tarfaya, morocco .
auroch will pick up 500, 000, 000 warrants over xtract shares exercisable at 0. 02p per share with an expiry date of the 21st of december 2017 if not exercised .
the manica gold project, which was the one xtract was originally built around, resumed centre stage. south american assets were declared more peripheral, and the focus firmly return to africa .
xtract reported that all of omnia' s earthmoving equipment on site has already been serviced and customised. two - thirds of the company’s plant equipment is on site and has been installed .
in 2008, xtract together with merty energy, petroleum exploration, education and services inc established a joint venture extrem energy a. s. for oil exploration and production activities in turkey .
range resources (lon: rrl) was the sector' s biggest faller following an update on the shabeel - 1 well on the dharoor block in puntland, somalia, which the operator described as' encouraging' range confirmed that the well had reached a total depth of 3, 470 metres and has encountered metamorphic basement at a depth of 3, 430 metres. drilling has been suspended for future testing. range resources said that in addition to the previously announced 12 to 20 - metre zone of significant hydrocarbon ...
as previously announced, the acquisition will increase dgo’s gross gas production by 14% to approximately 30, 000 mcfd and gross oil production by 23% to approximately 110 bopd. the cash consideration of $ 1. 75m has been met from the company’s existing resources .
). the dfs was based on, and the reported resources are as set out, in the mineral resource statement. a geological model of the fair bride orebody was constructed. these sections were used to create a wireframe for the orebody or mineralised portion .
unlike many other junior lithium hopefuls however, auroch already have an enviable bank balance and the recent settlement with xtract will just provide the cream on top required to fully explore the tanzania play .
xtract resources plc (formerly xtract energy plc, formerly resmex plc) is a gold and copper exploration and development company with projects in chile and south africa. the chepica gold and copper mine in chile is advancing well and the mine is on track to move into profitability in april 2015. underground development has accelerated and the focus is to develop the reef horizon in order to commence stoping at the end of h1 2015. at the new salvadori prospect, which forms part of the chepica mine, a new gold reef has been discovered at surface which will increase mining flexibility in addition to having a positive impact on the grade recovered at the mine .
the julia creek tenements cover an area of 709 square kilometres and contain jorc defined indicated and inferred resources of 2. 18 billion barrels of shale oil at grades of 40 – 90 litres per ton and average of 61 litres per ton at zero moisture (lt0m) .
xtract’s mozambique subsidiary explorator concluded mining contractor agreements for the project with mining contractors omnia mining and moz gold in june and with sino minerals investment company in july for the exploitation of the alluvial deposits .
nelson quit pan african in early 2013 for “personal reasons” but subsequent market speculation was that he had been forced out by the company’s bee partner – shanduka resources. nelson then temporarily “dropped out” of mining becoming a keen surfer and owner of a surf shop in strand in the cape .
resources are estimated at 900, 000 ounces from 3. 5mt at a grade of 3. 01 grams per tonne (g / t) with start - up costs of us $ 28. 4mln. a further us $ 14. 8mln will be needed for the underground development .
start - up costs, estimated at us $ 1. 2mln for the plant plus transport costs, will be wholly borne by mti, while xtract will assume operating costs once the plant is on site .
but the latest transaction, under the terms of which xtract will collaborate with nexus capital in mining the alluvial gold deposits at manica, with nexus taking on tall the costs save those for monitoring and transport .
the early exercise of this option, in our opinion, demonstrates the confidence that the gos group have for the future prospects of julia creek ,
xtract chief executive jan nelson said in a statement .
the parties have agreed to structure a usd $ 750, 000 convertible note and usd $ 1m loan agreement from auroch to xtract, secured by royalties over the manica gold project when it gets into production .
xtract energy has announced that its negotiations with global oil shale group (
gos
) with regard to its oil shale tenements at julia creek in queensland, australia have advanced with the restructuring of the transaction and the signing of a further non - binding heads of agreement. the julia creek tenements cover an area of 709 square kilometres and contain jorc defined indicated and inferred resources of 2. 18bn barrels of shale oil at an average grade of 61 litres per tonne at zero moisture ...
xtract aims to source talented individuals who can contribute at board and senior management levels, and who have the necessary qualifications, experience, enterprise and motivation to develop and grow early stage assets and businesses. xtract expects to maintain a small core executive management team on a full time basis and to use its wide network of industry associates to access the necessary skill sets and experience required on a part time or when required basis. where specific expertise is needed, acknowledged expert consultants are retained. xtract seeks to develop relationships with internationally recognised industry partners who are best placed to progress early stage assets and businesses along the value chain .
the manica gold licence will cost xtract us $ 12. 5mln and includes the fair bride open pit project, where a bankable feasible study (bfs) is due in six months and production a year later .
under the agreement, xtract acquired 100% of the shares of a barbados subsidiary of the company. this barbados subsidiary owns 100% of a chilean entity that holds an option agreement to acquire 100% of the chepica gold and copper mine as well as the adjoining talca exploration licenses and the mejillones phosphate property which was previously included in a separate joint venture agreement, entered into between the company and xtract in july 2013 .
' our team of oil shale specialists has significant experience in oil shale development in queensland, in respect of both geology and engineering and we believe that capabilities are well suited for xtract and the julia creek resource .
). xtract needs to set up a contact session with the edm to align timelines for the required installations and upgrades to the power supply network. capital allowances have been made for these upgrades and installations .
xtract energy (lon: xtr) was the sector' s biggest riser after it announced that its negotiations with global oil shale group (
gos
) with regard to its oil shale tenements at julia creek in queensland, australia have advanced with the restructuring of the transaction and the signing of a further non - binding heads of agreement. the julia creek tenements cover an area of 709 square kilometres and contain jorc defined indicated and inferred resources of 2. 18bn barrels of shale oil at an average ...
xtract has agreed to sell its 70% stake in xtract energy (oil shale) morocco s. a. (xosm) to gos for an upfront payment of c. aud $ 35, 000 with completion subject to obtaining the consent of the office national des hydrocarbures et des mines (onhym) and other requlatory approvals in the kingdom of morocco as well as the consent (or buy out) of the other shareholder in xosm .
nelson is a geologist by profession who made his name as ceo of pan african resources. on nelson’s watch pan african was transformed from a gold exploration outfit trying unsuccessfully to find viable gold projects in the central african republic into a mid - tier gold producer running the barberton and evander mines in south africa .
jan nelson, ceo of xtract resources (xtr) (xtr. l) (lon: atr) a company that invests in a portfolio of early stage resource assets, will be presenting at the shares magazine and redmayne bentley evening in birmingham on 3rd october 2013. the evening offers the opportunity to hear from and ask questions of key senior management figures from carefully selected companies in the mining, oil and gas sector. presenting at the event will be sound oil (lon: sou), trinity exploration and production ...
on 11 july 2017 xtract exlplorator limitada entered into a second agreement for the eastern half of the concession alluvials. the selected contractor is sino minerals investment company limited. the contract entails that they will have installed by the 15 october 2017 a 200t / h plant with a further 200t / h plant to be operational by the 15 january 2018. the xtract explorator limitada receives some 8% of all gold revenues with gold tax paid by the contractor .
in september 2011, queensland energy resources ltd (qer) produced its first crude oil from its demonstration paraho ii tm vertical shaft kiln processing plant at the stuart deposit near gladstone, central qld. the oil is being stored in secure tanks on - site, awaiting commissioning of the oil upgrading unit (refinery) .
“global oil shale is pleased to have concluded this agreement and looks forward to xtract energy joining as a strategic equity partner in gos as well as retaining its ongoing interest in the julia creek project through the long term royalty structure .
“gos has an excellent management team and expertise in the oil shale business and the xtract board believes that gos will extract maximum value from julia creek, whilst hedging its development with other oil shale projects within the gos portfolio. ”
mozambique’s mineral potential is largely untapped. gold deposits in niassa, tete, and manica provinces have attracted domestic and international investor interest in recent years. gold mining has been slow to develop as most of its activities are done by informal artisanal miners. however, increasing regulation of gold mining will support long - term production, as the government encourages miners to adopt legal status. xtract resources recently acquired a gold mining concession with estimated reserves of 2. 97mnoz. gold industry production is forecasted to grow 1. 1% annually from 2016 to 2020 .
alan hume, the finance director of xtract energy, has resigned. he will leave the board immediately. at 10: 48am: (lon: xtr) share price was - 0. 01p at 0. 23p story provided by urltoken
the 2010 survey of energy resources by the world energy council (wec) reported that total world in - place resources of shale oil are estimated to be 4. 8 trillion barrels. the largest known deposit is in the western usa (3 trillion barrels in - place resource), with other important deposits in china, the russian federation, the democratic republic of the congo, brazil, italy, morocco, jordon and estonia, as well as australia. only estonia, china and brazil produce shale oil. the wec survey reported that total oil production at the end of 2008 was about 1165 ml, with estonia producing 445 ml, china 470 ml and brazil 250 ml .
shares: xtract shall be issued with 6. 0 million shares in gos on signing the spa and satisfying all closing commitments (such shares, the “initial consideration shares”) and will be issued with a further up to 1. 5 million shares in gos immediately prior to listing any gos shares on any stock exchange or other market (such shares, the “additional consideration shares”) and together with the initial consideration shares, the “consideration shares”. the consideration shares shall be issued at a subscription price of 12 pence per share. gos shares issued to xtract pursuant to the spa in respect to xol agreement shall rank pari passu with all other shares of the same class issued on or before the date of issue of gos shares to xtract .
xtract has disposed of its entire holding in equus mining ltd for a total of a $ 0. 98 million. at 12: 17pm: (lon: xtr) share price was + 0. 03p at 0. 17p story provided by urltoken
in december 2012, xtract acquired the australian julia creek oil shale in return for 6. 0 million shares in gos, with a further 1. 5 million in the event of an ipo, which the board views as a valuable balance sheet asset .
under the terms of the original aud $ 12m sale, xtract were able to defer usd $ 2. 5m until three months after the sale but only managed to pay down about usd $ 850, 000 of the final usd $ 2. 5m .
xtract energy more than halved its pretax loss to â£1. 6 million, from a loss of â£3. 4 million. it booked nil revenue, with administrative and operating expenses accounting for most of the loss .
the company is looking at many options in the resource sector and we are confident that we will identify suitable assets which in the course of time will restore and grow shareholder value ,
it said. xtract energy identifies and invests in a portfolio of early stage resource assets and business ...
under this new agreement it’s anticipated that xtract will receive its first income in the second quarter of this year. what’s more the official resumption of alluvial mining at manica is likely lead to the opening up of more areas for exploitation in the months to come .
colin bird, xtract’s chairman, added: “this is one of the few high - grade, low - cost, low - risk, open - pitable gold opportunities in africa. infrastructure around the project is excellent and the project is 18 months from production. ”
if gos elects to buy back all or part of the royalty in accordance with the provisions set out below, xtract may elect to receive cash or the equivalent value of shares in gos. 0 – 1 years: up to and including the first anniversary of signing the spa, gos may exercise an option to buy back all or part of the royalty from xtract at a price of aud $ 100, 000 per 0. 1% purchased (i. e. , purchasing the entire royalty would cost aud $ 1 million .
both parties anticipate that preparation of the detailed work program and negotiations leading to binding agreements will be completed within three months and exclusivity arrangements are in place for that period. gos is a global energy company exclusively focused on production of oil and other valuable products from the world' s oil shale resources. gos has a team of more than 20 oil shale specialists based in the united kingdom, estonia, australia and morocco and between them there is more than 200 years of experience in the evaluation and development of oil shale projects and the production of oil and energy from oil shale globally. commenting on this transaction peter moir, ceo of xtract, stated :
colin bird is a chartered mining engineer with multi commodity mine management experience in africa, spain, latin america and in the middle east. he has been the prime mover in a number of public listings in the uk, canada and south african and is currently chief executive officer of tiger resource finance plc, aim quoted galileo resources plca and non - executive chairman of jubilee platinum plc .
if gos issues any shares after signing the spa in respect of xol, but prior to (but not in connection with) an ipo, gos shall offer xtract the right to participate in any such issue on the same terms and conditions as existing gos shareholders at such time .
tiger resource finance has noted the announcement made by xtract energy whose shares have been temporarily suspended on aim. it has confirmed that it has agreed to make an equity investment in xtract. this will mark the first pro - active investment by tiger since its new investing policy was approved by shareholders at the annual general meeting held in june. at 8: 10am: (lon: tir) tiger resource finance share price was + 0. 01p at 1. 88p (lon: xtr) share price was - 0. 24p at 0. 17p story ...
in south africa, xtract has exclusive rights to acquire the o' kiep and carolusberg copper sulphide dump projects. located within 30 kilometres (19 mi) of springbok, northern cape, with 33. 8 million tonnes of sulphide copper tailings material on surface, the priority is to carry out drilling, sampling and metallurgical work in order to commission a feasibility report. according to the agreement with a copper producer shirley hayes ipk pty ltd, xtract has rights to evaluate the concordia project copper dumps in southn africa, including of 182, 000 tonnes of copper oxide material on surface .
at the request of xtract energy, trading on aim has been temporarily suspended from 27 / 06 / 2012 at 07: 30am pending clarification of the company' s financial position. at 8: 11am: (lon: xtr) share price was 0p at 0. 41p story provided by urltoken
on signing of the spa in respect of xtract oil limited, gos shall carry out a work programme to be completed on or prior to the fourth anniversary of signing the spa. the work programme deliverables are: mining plan and resource testing; pre feasibility plan for choice of processing approach for julia creek; bankable feasibility plan and small scale pilot testing of production. if gos abandons the work programme on or after the fourth anniversary of signing the spa, xtract shall have the option to repurchase the xol shares from gos in consideration for repayment of gos’s back costs incurred in respect of julia creek.
xtract resources plc ( former names : resmex plc and xtract energy plc ) is a diversified metals and minerals producer based in london , united kingdom . the company 's shares are traded on london stock exchange alternative investment market . its ceo is colin bird . the primary focus of the company is gold and copper exploration and mining . the company 's main assets are located in chile , mozambique , and south africa . 
xtract resources plc (former names: resmex plc and xtract energy plc) is a diversified metals and minerals producer based in london, united kingdom. the company's shares are traded on london stock exchange alternative investment market. its ceo is colin bird. the primary focus of the company is gold and copper exploration and mining. the company's main assets are located in chile, mozambique, and south africa.
xtract resources plc (former names: resmex plc and xtract energy plc) is a diversified metals and minerals producer based in london, united kingdom. the company's shares are traded on london stock exchange alternative investment market. its ceo is colin bird. the primary focus of the company is gold and copper exploration and mining. the company's main assets are located in chile, mozambique, and south africa.