Xtract Resources plc
10 August 2026
10 August 2026
For immediate release
Xtract Resources Plc
("Xtract" or the "Company")
Amghas Mine Development Update
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide an update on development activities at the Amghas antimony project in north-west Morocco.
The Company has appointed a local mining contractor and a local civil works contractor to advance site preparation, mine access and infrastructure works ahead of the delivery, construction and commissioning of a planned 70,000 tonnes per annum gravity processing plant for run-of-mine material.
The Company continues to make progress across the three principal workstreams for the development programme: i) mine preparation and production readiness; ii) gravity plant construction and commissioning; and iii) metallurgical flotation test work. A photographic diary from the most recent mine site visit is available on Xtract's website at www.xtractresources.com
Executive Chairman Colin Bird commented: "We are pleased with the progress being made at Amghas, where activity is now moving from planning and test work into practical site preparation and early development execution. The appointment of local mining and civil works contractors is an important step in establishing the infrastructure required to support initial production. We believe the Company is well positioned to advance the project towards commissioning of the gravity plant on receipt of the environmental licence, which has been applied for, to unlock value from this strategically relevant antimony asset in Morocco."
Responsibility for mine preparation and initial production readiness has been assumed by a local contractor. Work completed or currently progressing to schedule includes:
o Improvement and preparation of haul road access;
o Cleaning, inspection and safety preparation of mine portals, drives, galleries and other existing underground exploratory development;
o Removal of accessible mineralised material underground and stockpiling of ore for future processing;
o Implementation of internationally accepted standards for mine site operations; and
o Construction of benches designed to accommodate the planned gravity processing plant.
Civil construction for the gravity plant has been assigned to a local contractor, which completed a final site visit on 25 July ahead of the commencement of construction works.
o On the same day, an impact crusher was assessed and purchased for incorporation into the plant.
o Shaking tables are expected to be used to produce an antimony-silver gravity concentrate for sale. A jig will be introduced into the flowsheet once a suitable unit has been fabricated and shipped to Morocco.
The Amghas mine was granted a mining licence as previously announced on 2 June 2026 and is therefore permitted to undertake mining activities. The operation requires an environmental permit before the gravity plant can commence processing which has been applied for. The Company is continuing with plant construction to position the project for commissioning as soon as the environmental permit has been received and a further announcement will be made in due course.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Executive Chairman and Director.
Further information is available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.xtractresources.com
For further information, please contact: Xtract Resources PLC
|
Xtract Resources Plc |
Colin Bird, Executive Chairman |
+44 (0)20 3416 6471 |
|
Beaumont Cornish Limited Nominated Adviser |
Roland Cornish Michael Cornish Felicity Geidt |
+44 (0)207628 3369 |
|
AlbR Capital Limited Joint Broker |
Jon Bellis Colin Rowbury |
+44 (0)207 399 9427 |
|
Shard Capital Partners LLP Joint Broker |
Damon Heath |
+44 (0) 20 7186 9952 |
Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.
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