XTRACT RESOURCES PLC

M&A Activity • Feb 6, 2025

National Storage Mechanism | Additional information

RNS Number : 0914W

Xtract Resources plc

06 February 2025

6 February 2025

Xtract Resources Plc

("Xtract" or the "Company")

Trading update

The Board of Xtract Resources Plc ("Xtract" or the "Purchaser") is pleased to announce that it has agreed to purchase dump material, situated in the Zambian Copperbelt, for a consideration of US$300,000 to be funded from Xtract's existing cash resources. Xtract intends to conduct trial work testing and evaluation of the material.

Colin Bird, Executive Chairman of Xtract, commented

"There are numerous dump opportunities arising in Zambia from previous copper mining operations, both big and small. The Company has a number of potential opportunities to potentially process dump materials and this agreement will enable Xtract to determine grade, quantity and treatability prior to any further acquisitions of material depending on technical and commercial fundamentals."

Purchase of material

On 5 January 2025, Xtract agreed to  purchase dump material and to conduct trial work testing and evaluation of the material from the Seller's sites in Zambia . Xtract has agreed to pay the seller US$300 000 in cash to for the material valued at US$1.15 per tonne, to be sourced from the seller's sites in Zambia and to be removed from the site by Xtract. The seller remains liable for and shall pay any statutory royalties or any other duties or charges due to the relevant authorities on the sale of any material to the Xtract. Xtract also plans to undertake trial, test work and sampling and evaluation at the site of the material purchased.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (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.

Xtract Resources Plc	Colin Bird, Executive Chairman	+44 (0)20 3416 6471 www.xtractresources.com
Beaumont Cornish Limited Nominated Adviser and Joint Broker	Roland Cornish Michael Cornish Felicity Geidt	+44 (0)207628 3369 www.beaumontcornish.co.uk
Novum Securities Limited Joint Broker	Jon Bellis Colin Rowbury	+44 (0) 207 399 9427 www.novumsecurities.com

Important Notice:

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFFFVLFFIEIIE