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Manica Hard Rock Project Progress Update , 4th Sept 2019

lse:xtr

#1

This is fantastic news reassuring investors progress has been made emphasising no delays are expected to the contractual planned start date . Within the highlights of today’s RNS identifying specific progress made not only for the fair brides area but Guy Fawkes hard rock area too . Where cherry picking of gold rich areas will allow healthy cash flow until the CIL plant is completed for commercial production of fair brides ( DFS ) area being achieved by 1 July 2020 .

I can say this with confidence with back up from a line taken from the highlights section of today’s RNS :

· Deposits have been paid to commence remedial work on existing crushing and grinding circuits

Obviously reading between the lines this is in reference to Omnia’s hard rock processing plant that has been designated to process hard rock from Guy Fawkes area in previous RNS’s .

With Sino 2 processing alluvial’s from the Manica prospect , sold in Dubai at higher prices along with a fairer 50% : 50% profit split attributable to Explorator with Nexus / Xtract Resources compared to 60% : 40% this time last year . Xtract Resources revenue stream come Q4 2019 should be very healthy in deed .

We entered the chicken farm area in the last month of Q2 2019 which as previously predicted by Mr Colin Bird provided higher grades and less overburden reiterated in the Alluvial Gold Update RNS of 1st August 2019 which I’ve copied the following line from :

However, total alluvial mining production for the month of July alone is expected to be around 14.50Kg , which is the second best month in terms of production for 2019 and at current gold prices the best month in terms of revenue accrued to Explorator for 2019.

Not forgetting July produced dorey bars are sold 2 months after production in Dubai rather than previously 1 month sold locally . Making September 1st 2019 , date July produced dorey bars are sold . With POG rising almost 10% in August alone Q3 2019 revenue stream is looking fantastic let alone wait for Q4 with Omnia , Guy Fawkes hard rock kicking in .

Going back to today’s RNS and the beauty of it is reassurance : no delays are expected to the contractual planned start date … :smile:
https://www.ii.co.uk/news/manica-hard-rock-project-progress-update-rnsLSE20190904142440_14214016