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Xtract Pays USD200,000 To Become Kalengwa Plant Contractor In Zambia

(Alliance News) - Mining firm Xtract Resources PLC said Monday it will pay USD200,000 in an ...

Alliance News 22 October, 2019 | 10:50AM
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(Alliance News) - Mining firm Xtract Resources PLC said Monday it will pay USD200,000 in an all-share deal in order to exercise its option to act as a contractor on a processing project in Zambia.

Xtract will pay KPZ International Ltd the sum through the issue of new Xtract ordinary shares. In return, Xtract will become the contractor on the Kalengwa processing project which is lcoated on the large scale mining license number 24401-HQ-LEL in the country.

Shares in Xtract were 4.2% lower at 1.15 pence in London on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Xtract Resources PLC 0.95 GBX 2.70 -

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