Hard Rock collaboration agreements Manica



Appears in the latest " Company and Manica Alluvial Gold Update " RNS reference to hard rock progress was made . To newcomers to XTR this would be in relation to MMP building and operate a carbon-in-leach (CIL) plant

following copied and pasted from RNS Number : 5993H .

The hard rock contractors are progressing satisfactorily with site visitations from geotechnical engineers and process engineers in order to finalise design parameters. Our partner has assigned permanent staff to the project and we are pleased with the progress both technically and administratively."

With MMP, in partnership with Omnia, appointed as independent mineral processing contractor on the various gold bearing mineral deposits on the concession . It’s as if an updated on Omnias progress at Guy Fawkes area of the Manica was left out for a reason . I’m expecting this news shortly since Omnia have the right equipment on it’s own concession nearby to process Guy Fawkes hard rock with very little alteration needed . Maybe this is why Mr.Colin Bird emphasised why he thought there was a huge discrepancy between XTR , Market Cap and true worth . Dictated through Market Maker share price obviously .

With Q3 2019 , Sino 2 alluvial results having 3 full months of the chicken farm area alluvials to process . Monthly sales of dorey bars in Dubai should be getting better each month as extracted alluvial gravel hits increased gold content and not forgetting POG increasing too .

Making Manica a solid base for Xtract Resources to work from to further de-risk the company with copper / gold exploration / mining in Zambia . Which after the recent fund raise at 1.20p /share is fully funded for the foreseeable future . No wonder Mr.Colin Bird did a top up at 1.108p/share on Friday . I did one yesterday at 1.15p /share but would be happy to take many more on share price weakness whether it be through traders chasing rainbows or shorts being closed by placement shares entering the market lowering the SP doesn’t worry me . I’ll be adding … :slight_smile:


with buying pressure forcing out any short position held from recent placing shares . I did a few dummy sells and quickly realised the Market Makers ( MM’s ) were willing to buy huge amounts of shares at 1.177p / share without Negotiated / Trading ( N/T ) kicking in . Hence added a few more at 1.215p/share . Ironic how that delayed 1 million share trade from 15:09hrs was done immediately after mine but 29 minutes later at 1.20p /share . I’m left wonder if that was placing shares entering market to close what could be one of the last of the shorts if not the last , closed by placing shares . Not sure since after my buy another buy same amount was done at same price as mine 1.215p /share . Only then was the real ask price raised to 1.22p /share .

With volumes being very low compared to early days after the placing announcement I got a strong feeling overhang has been cleared . After all only 83,333,333 new Ordinary Shares of 0.02p each are supposed to be admitted to trading on or around 25 August 2019 . Day of placing announcement share price dropped from 1.75p /share to 1.35p /share , with heavy selling previous day too , leading me to believe placing shares left to enter market are for long term hold placees .

I’ve picked up a lot of shares since the drop started 23rd July and re-bought many with highest price paid 1.256p /share , including 600k shares at 1.215p / share in my second trading tranche . Long term hold position is still intact with funds ready to buy more shares in coming days it’s hard not to feel confident with Omnia progress on Guy Fawkes hard rock news being held back from Sino 2 , alluvial Gold Update but since then Mr.Colin Bird has picked up a million shares along with many many millions picked up by shrewd traders / investors … hum … the future of Xtract Resources being debt free / cash in the bank to fund exploration / development in copper / gold mining in Zambia . Who wouldn’t be confident .


Hear what your saying DS, but have you any further thoughts on the Zambia deal, given the bad press it’s had?



Processing Copper Project Zambia (“Kalengwa”) Agreement

· Xtract and KPZ have agreed a 90-day due diligence period following completion of which, should Xtract wish to proceed to act as contractor, Xtract will pay USD200,000 to KPZ to be settled through the issuance of new Xtract ordinary shares.

So that takes us up to October 10th 2019 before Xtract Resources has to make a decision on whether to proceed at Kalengwa . Until then Mr.Colin Bird has more than enough time to evaluate any bad press whether it be fake news or spam . Obviously certain posters like BuriedTreasure have been banned from posting on certain Bulletin Board for posting misleading information before . I read one news item yesterday regarding XTR and quickly dismissed it , here’s the link tell me what you think . .

I prefer to do my own research and interpretate each RNS / podcast / etc , the way that most likely portrays a true picture of what’s actually going on at XTR . That to me highlights the progress Sino 2 is making in the chicken farm area of the Manica prospect with the higher gold grade alluvials along with less overburden . Then there’s the hard rock Omnia are cherry picking from Guy Fawkes area within the Manica prospect all of which greatly outweigh any bad press coming out of Zambia whether it be fake news or spam . Since Mr.Colin Bird has already check relevant documentation I’d say it’s spam but nonetheless won’t be including Kalengwa in my valuation of XTR until the deal has been agreed . That valuation is many times what the Market Makers have the current Market Cap at too .


Thanks DS will have a look later


Yes, looks like standard format with no surprises. Don’t spend much time on this type of release. Extract continues to show great potential if only the market would see it. It’s just taking a hell of a long time to realise it. For one who’s been around since ‘COIL’ days I’ve learned to be patient!