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%.

 

The current focus is on the Manica mine in Mozambique which satisfies all of the above. On 28th February 2017, the Company announced that it had completed the Definitive Feasibility Study for the open pit operation of the Company’s Manica Fair Bride Gold Project in Mozambique. Concurrently we will proactively and reactively assess how best to transfer opportunity to shareholder value.

 

We continue to review all options for future projects and maximising current value.

The Right People

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.