6th Nov 2023 19:52
Xtract Resources PLC - London-based diversified metals and minerals producer - Announces the successful completion of an updated pit optimisation & financial modelling study to examine the economics of open pit extraction on the Bushranger Porphyry copper-gold project in central New South Wales, Australia. The study recognised that optimisation of the processing plant capacity, capital costs, operating costs and metallurgical recoveries could greatly improve the economic outcomes of mining the deposit.
Executive Chair Colin Bird says: "The final results from the Bushranger study show that the currently defined mineral resources on the Bushranger project have the potential to be the basis of a large scale, economic mining operation, producing significant free cash flows. The outcomes generated from the mining study are a solid start to understanding the economics of mining the project's mineral resources and show there is considerable upside possible through optimisation of plant capacity, capital costs, operating costs and metallurgical recoveries, along with potential incorporation of alternative ore pre-concentration methods."
Current stock price: 1.00 pence
12-month change: down 69%
By Jeremy Cutler, Alliance News reporter
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