07 Mar Midweek Takeaway with Colin Bird, Executive Chairman of Xtract Resources (AIM:XTR)

Phil Carroll and Kevin Hornsby talk to Colin Bird regarding the Update on Open Pit Mining Study for Bushranger Copper-Gold Project. Independent consultants Optimal Mining Solutions have provided an interim report to the company, which shows that the economics of the project can be improved by the use of modern ore-sorting technology. The company will complete its mining study based on further test work on this option, and is planning further drilling to test remaining copper-gold mineralisation targets located close to the Racecourse Mineral Resource. Xtract has initiated a pre-concentration study, with the objective of quantifying improvements in cash margins, and allowing Net Present Values and Internal Rates of Return to be calculated for various mining scenarios.