About Xtract Resources PLC

Xtract Resources (XTR:AIM) 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.

 

The Company announced on the 22 September 2016 that, after a review of the Chepica mine owned by Minera Polar, no further investment was justified since past performance and future operational uncertainties did not warrant further investment.

 

The current focus is on the Manica mine in Mozambique.

Strategy

The strategy is to identify resource projects which satisfy the criteria of reasonably advanced, good mining jurisdiction and economic projections which suggest a hurdle rate of return in excess of 25%.

Board of Directors

The Xtract Resources board consists of Colin Bird (Executive Chairman), Peter Moir (Non-executive Director), and Joel Silberstein (Finance Director).

Group Structure

Corporate Responsibility

The Company recognises that the Group’s exploration and development activities require it to have regard to the potential impact that it and its subsidiary companies may have on the environment.

 

Wherever possible, the Company ensures that all related companies are encouraged to comply with the local regulatory requirements with regard to the environment.

Corporate Governance