Xtract Resources

Xtract Resources plc is a London-based metals exploration and mining company whose principal activities are centered on gold and copper. The company is listed on the London Stock Exchange's Alternative Investment Market and has historically operated as a diversified natural-resources business before refocusing on mining. The company was incorporated in October 2004 under the name Resmex plc. Its initial activities included mineral exploration in Mexico, but its strategy soon expanded into oil, gas, oil shale, and other energy-related investments. In 2006, Resmex acquired Xtract Oil Limited, an Australian oil-shale company associated with the Julia Creek deposit in Queensland. The transaction was financed partly through the issue of new shares to Cambrian Mining, which became a major shareholder, and Resmex adopted the name Xtract Energy plc in May 2006. During the energy-focused phase, Xtract built a portfolio of interests and investments covering oil and gas exploration, oil shale technology, geothermal and coal-related activities, and uranium exposure through investee companies. Its activities included interests connected with the North Sea, Kyrgyzstan, Turkey, Australia, Morocco, New Zealand, and Queensland. The portfolio was subsequently rationalized. In 2009, the company sold its interests in Wasabi Energy and MEO Australia. In 2012, it transferred its interest in Zhibek Resources to Caspian Oil & Gas, now associated with Equus Mining, and exited Kyrgyzstan. In December of the same year, its oil-shale interests were transferred to Global Oil Shale Group in exchange for a strategic shareholding. On 25 June 2013, the company changed its name to Xtract Resources and shifted its corporate emphasis from energy investments to mining. This transition led to the acquisition and development of gold and copper projects in southern Africa and South America. In 2014, Xtract acquired the Chépica gold and copper mine in Chile. The transaction also included the Mejillones phosphate deposit, which was later sold during the same year. In 2015, the company acquired the Manica gold mining project in Mozambique. Xtract's mining portfolio has included the Chépica project in Chile, the Manica licence and Fair Bride open-pit project in Mozambique, and copper tailings and dump opportunities in South Africa. At Chépica, the company explored gold-bearing structures and copper mineralization, including the Salvadori and Colin prospects, while progressing development of the Chépica prospect. In Mozambique, Xtract worked with Mineral Technologies International on the Fair Bride project within the Manica gold licence. In South Africa, the company held rights associated with the O'Kiep and Carolusberg copper sulphide dump projects near Springbok in the Northern Cape, as well as evaluation rights for copper oxide material at the Concordia dumps. The company's business model has therefore evolved from a diversified resources-investment vehicle into a more focused exploration and mining group. Its activities combine project acquisition, geological exploration, resource definition, metallurgical testing, feasibility work, mine development, and the search for strategic partners or transactions. The available reference material identifies Colin Bird as chief executive officer. Because project ownership, production status, corporate structure, and operating assets can change over time, current portfolio details should be checked against the company's latest regulatory disclosures.

Xtract Resources began in October 2004 as Resmex plc. The company listed its shares on the London Stock Exchange Alternative Investment Market in March 2005. Its early activities included mineral exploration in Mexico, where it acquired Sermines de Mexico S.A. de C.V. in August 2005. That company held exploration and development rights in three concessions within the California–Sonora Gold Belt. The corporate strategy broadened significantly in 2006. Resmex acquired Xtract Oil Limited from Intermin Resources Limited, obtaining exposure to the Julia Creek oil-shale deposit in Queensland, Australia. The financing included an issue of shares to Cambrian Mining, which became a major shareholder. Resmex consequently changed its name to Xtract Energy plc in May 2006. Later that year, Xtract acquired stakes in Wasabi Energy, Aviva Corporation, and Cambrian Oil & Gas from Cambrian Mining. Through subsequent corporate transactions, it gained exposure to MEO Australia, Elko Energy, and Zhibek Resources. Between 2007 and 2012, the company operated as a diversified energy and natural-resources investment group. It sold its interest in Aviva Corporation to Wasabi Energy in 2007 in exchange for Wasabi shares and warrants, and disposed of its Wasabi and MEO Australia interests in 2009. In 2008, Xtract and its partners established Extrem Energy A.S. for oil exploration and production in Turkey. Through Zhibek Resources, the group participated in oil and gas opportunities in Kyrgyzstan, while Elko Energy held interests in North Sea exploration. Xtract also had exposure to Australian projects involving methanol, liquefied natural gas, and gas-to-liquids development. The energy portfolio was progressively unwound. In May 2012, Xtract transferred its Zhibek Resources interests to Caspian Oil & Gas in return for a minority interest and exited Kyrgyzstan. In December 2012, it transferred Xtract Oil Limited and a majority interest in Xtract Energy (Oil Shale) Morocco to Global Oil Shale Group in exchange for a strategic stake. These transactions marked the end of the company's direct involvement in much of its oil-shale portfolio. On 25 June 2013, Xtract Energy changed its name to Xtract Resources and formally repositioned itself as a mining company. The new strategy concentrated on precious and base metals, particularly gold and copper. In 2014, the company acquired the Chépica gold and copper mine in Chile. The acquisition also brought the Mejillones phosphate deposit, but that asset was resold to Mines Global later in 2014. Chépica exploration subsequently included work on the Salvadori and Colin prospects and development progress at the Chépica prospect. In 2015, Xtract acquired the Manica gold project in Mozambique. Its activities there included development of the Fair Bride open-pit project in cooperation with Mineral Technologies International. The company also pursued copper opportunities in South Africa. It held exclusive rights to acquire the O'Kiep and Carolusberg copper sulphide dump projects near Springbok in the Northern Cape. The projects involved large quantities of copper-bearing sulphide tailings on surface and required drilling, sampling, metallurgical testing, and feasibility work. Xtract separately held rights to evaluate copper oxide material at the Concordia copper dumps. The company's history is consequently characterized by a major strategic transition: from a small listed mineral-exploration company, to a diversified energy and oil-shale investment group, and then to a focused gold-and-copper exploration and mining business. The available reference identifies Colin Bird as chief executive officer. Later operational progress, ownership interests, production levels, and financial performance are not specified in the supplied material and require confirmation from current company disclosures.

• 2015

  Manica acquisition

  [1]Xtract Resourcesen.wikipedia.org

  Xtract acquires the Manica gold mining project in Mozambique.

• 2014

  Chépica acquisition

  [1]Xtract Resourcesen.wikipedia.org

  Xtract acquires the Chépica gold and copper mine in Chile and later disposes of the associated Mejillones phosphate asset.

• 2013

  Rebranding as Xtract Resources

  [1]Xtract Resourcesen.wikipedia.org

  The company changes its name on 25 June and refocuses on mining.

• 2012

  Exit from Kyrgyzstan

  [1]Xtract Resourcesen.wikipedia.org

  Xtract transfers its interest in Zhibek Resources to Caspian Oil & Gas in exchange for a minority shareholding.

• 2012

  Oil-shale portfolio transfer

  [1]Xtract Resourcesen.wikipedia.org

  Xtract transfers its principal oil-shale interests to Global Oil Shale Group in exchange for a strategic stake.

• 2008

  Turkish energy joint venture

  [1]Xtract Resourcesen.wikipedia.org

  Xtract and partners establish Extrem Energy A.S. for oil exploration and production activities in Turkey.

• 2006

  Entry into oil shale

  [1]Xtract Resourcesen.wikipedia.org

  The company acquires Xtract Oil Limited and adopts the Xtract Energy name in May.

• 2005

  AIM admission

  [1]Xtract Resourcesen.wikipedia.org

  Resmex shares are listed on the London Stock Exchange Alternative Investment Market in March.

• 2005

  Mexican exploration acquisition

  [1]Xtract Resourcesen.wikipedia.org

  Resmex acquires Sermines de Mexico S.A. de C.V., gaining rights in three concessions in the California–Sonora Gold Belt.

• 2004

  Incorporation as Resmex plc

  [1]Xtract Resourcesen.wikipedia.org

  The company is established in October 2004 under the Resmex plc name.

A listed junior-to-mid-tier resources company focused on acquiring, exploring, developing, and advancing gold and copper assets, with a historical background in diversified energy and mineral investments.

• Gold and copper mine and exploration project · 2014

  Chépica

  Chépica is a gold and copper project in Chile acquired by Xtract in 2014. The project included the Chépica mine and associated exploration ground. Reference material describes exploration of gold-bearing reefs and prospects including Salvadori and Colin, together with development work at the Chépica prospect. The transaction also included the Mejillones phosphate deposit, which was subsequently sold.

• Gold mining project · 2015

  Manica

  Manica is a gold project in Mozambique acquired by Xtract in 2015. The licence includes the Fair Bride open-pit development opportunity, which Xtract worked on with Mineral Technologies International. The project represents one of the company's principal gold assets in southern Africa, although current ownership, construction, production, and development status are not established by the supplied reference.

• Open-pit gold project

  Fair Bride

  Fair Bride is an open-pit gold project within the Manica gold licence in Mozambique. Xtract developed the project with Mineral Technologies International as part of its post-2013 mining strategy. The available material identifies Fair Bride as a development project but does not provide current reserves, production figures, construction dates, or operating results.

• Copper sulphide dump projects

  O'Kiep and Carolusberg

  These South African projects involve copper-bearing sulphide dump material near Springbok in the Northern Cape. Xtract held exclusive rights to acquire the opportunities and planned drilling, sampling, metallurgical testing, and feasibility work. The reference describes approximately 33.8 million tonnes of sulphide copper tailings material on surface, but does not establish a current resource or operating mine.

• Copper oxide dump evaluation project

  Concordia copper dumps

  The Concordia opportunity in South Africa concerns the evaluation of copper oxide material contained in surface dumps. Under an agreement with Shirley Hayes IPK Pty Ltd, Xtract had rights to assess the project. The supplied material cites approximately 182,000 tonnes of copper oxide material but does not provide a current feasibility or production outcome.

• 2015

  Acquisition of ManicaM&A

  Background

  Xtract sought to expand its gold portfolio after repositioning itself as a mining company.

  Action taken

  The company acquired the Manica gold mining project in Mozambique, including the Fair Bride development opportunity.

  Aftermath

  Manica became a principal southern African gold project and was developed with Mineral Technologies International, according to the reference material.

  Source

• 2014

  Acquisition of ChépicaM&A

  Background

  The newly mining-focused company needed operating and development assets in precious and base metals.

  Action taken

  Xtract acquired the Chépica gold and copper mine in Chile, together with the Mejillones phosphate deposit.

  Aftermath

  The Mejillones phosphate deposit was resold later in 2014, while Chépica remained part of the company's mining portfolio.

  Source

• 2013

  Strategic refocus from energy to miningStrategy

  Background

  After disposing of or transferring major oil, gas, and oil-shale interests, the company sought to concentrate its activities on mineral exploration and mining.

  Action taken

  The company changed its name from Xtract Energy plc to Xtract Resources on 25 June 2013 and redirected its corporate strategy toward gold and copper.

  Aftermath

  The refocused group subsequently acquired the Chépica project in Chile and the Manica project in Mozambique and pursued copper dump projects in South Africa.

  Source

1. 1Xtract Resourcesen.wikipedia.org