Xtract Resources Plc

Description

Xtract Resources Plc is an AIM-listed copper and strategic-metals company with operating and development interests in Zambia and Morocco, together with a large-scale copper-gold resource project in Australia. Its near-term investment case centres on ramping the 35%-owned Silverking copper-silver mining joint venture in Zambia and commissioning the 80%-owned Wildstone antimony assets in Morocco, while the 100%-owned Bushranger project provides longer-term copper-gold optionality.

Silverking began initial concentrate production in July 2026 through an upgraded flotation plant targeting an optimized 28 tph rate, although steady-state throughput, recovery, concentrate grade and cash distributions remain unproven. Amghas has a mining licence and a planned 70,000 tpa gravity plant but still requires environmental approval. Bushranger contains a large 599 Mt at 0.22% CuEq resource, including a higher-grade subset, but does not yet have a completed economic study.

List of Projects:

Project 1: Silverking, Zambia
Copper-silver mining and exploration project. Xtract owns 35% of the mining JV and 70% of the surrounding exploration JV. Initial production began in July 2026, with plant optimization and further drilling underway.

Project 2: Amghas, Morocco
Antimony-silver project held through 80%-owned Wildstone SARL. A 70,000 tpa gravity plant is under construction, subject to environmental permitting.

Project 3: Ighoud, Morocco
Antimony exploration project held through Wildstone. Current work focuses on exploration, metallurgy and potential integration into a future central flotation strategy.

Project 4: Bushranger, New South Wales, Australia
100%-owned copper-gold project comprising Racecourse and Ascot. Combined JORC resources total 599 Mt at 0.22% CuEq, with metallurgical testwork reporting approximately 89–90% copper recovery.

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List of projects

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