Xtract News Headlines. XTR Share News. Financial News Artic

Xtract News Headlines. XTR Share News. Financial News Articles for Xtract Resources Plc Ord 0.02P updated throughout the day.


Mon, 19th Apr 2021 13:25
(Alliance News) - Xtract Resources PLC on Monday said it has raised GBP5.5 million to fund drilling at its Bushranger copper-gold project in Australia.
The miner with projects in Mozambique and Zambia said it issued 98.2 million shares at 5.6 pence each, a discount of about 9% to the closing price on Friday of 6.14p. Shares in Xtract were down 8.8% at 5.65p in London on Monday, giving a market capitalisation of GBP42.2 million.
The proceeds will be used to fund the next stage of exploration development on the Bushranger copper-gold exploration project in New South Wales, Australia. Phase one drilling was recently completed producing "very good results" and indicating a "considerably larger mineralised system than previously envisaged", the company said. Phase two drilling is expected to begin in July.

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