The company is focussed on identifying reasonably advanced resource projects, set in good mining jurisdictions and with economic projections suggestive of potential rates of return in excess of 25%.  The vision remains for medium sized projects, with the potential for rapid up-scaling and longer-term prospectivity and growth.

Following on from the success of the alluvial gold operations at Manica in Mozambique, the Company has   been focussed on developing the nearby Manica Fair Bride  hard rock gold project where Xtract has a 23% share of Net Profit and on further exploration work at the Bushranger copper-gold project in New South Wales.

The Manica Fair Bride project in Mozambique was brought into production in 2022 by Mutapa Mining and Processing LDA and celebrated the first gold pour in July 2022.

At Bushranger, recent drilling has been able to upgrade the known resources to a total of 1.3 Mt copper-equivalent metal, with open-pit mining studies underway.

The Kakuyu project was acquired at the start of 2023 and represents an exciting new copper-cobalt exploration project in central Zambia.

We continue to review all options for future projects, whilst maximising current value and return for shareholders.

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.

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