With times changing fast for the Mozambique economy I’m just glad Mr.Colin Bird bought the Manica gold Prospect for Xtract Resources when he did . With all the investment going into liquefied natural gas projects it reminds me of Australia pre 1986 before China invested heavily in natural resources such as coal , iron ore prospects , etc ,
Australia’s economy soon expanded with sealed roads replacing corrugated tracks in many areas and just like Australia Mozambique is rich in gold .
With Q3 Sino 2 results due probably November 1st owing to higher gold prices achieved in Dubai it wouldn’t surprise me to see some large buy trades before the 90-day due diligence period at the Kalengwa Processing Copper Project is up , approx 13th October . I say this since our USD200,000 owed to KPZ to proceed as contractor through the issuance of new Xtract ordinary shares wouldn’t cause to much dilution in shares with the 30 day average approx 1.05p/share . If next week the share price rallies towards that date even less dilution will be needed remembering that the USD200,000 is in Dollars not Pounds .
With an almost instant further revenue stream if the due diligence proves positive for Xtract Resources an almost certain bounce will happened if the Kalengwa Processing Copper Project is accepted followed by another bounce after Q3 Sino 2 , alluvial profits are announced Nov 1st . With favourable weather throughout Q3 2019 along with working in the chicken farm area of the Manica prospect with less over burden , higher grades we may even be on a rally up and beyond Christmas .
Just glad to see all the investment going into Mozambique after those cyclones had flooded coastal areas during Q1 2019 . Positive news after positive which going back to my comparison with Australia happen similarly in Queensland with many cyclones landing causing flooding over the years .