Xtract Energy - looking for oil in shale. Feasible and cost effective? Anyone in these at present?

Xtract Resources embarks on new venture in Chile

Xtract Resources has signed a Heads of Agreement ('HOA') to enter into a proposed joint venture ('JV') with Polar Star Mining Corporation on the Mejillones Phosphate and Uranium Property in Chile.

Upon completion of certain technical work and capital expenditure from existing cash resources, Xtract will have the right to earn-in up to 75% of the Property, which covers approximately 16,400 hectares, with the potential to buy the remaining 25% stake from Polar Star.

This transaction marks the first step to of a new strategy adopted by the Board to invest in resource assets with near-term production capability and significant growth potential.

Focus will be on assets which are relatively straightforward to evaluate with low entry cost and located in more favorable mining jurisdictions

Jan Nelson, CEO of Xtract commented that; "In line with Xtract's new strategy, the Board has chosen to invest in resource assets near or at surface, on the low end of the cash cost curve that can be brought into production in less than 24 months to realise cash-flow and yield significant upside potential.

"The Property provides us with such an opportunity without any initial dilution to shareholders. We have assembled a small but very strong technical team to define the economic potential of the deposit."

with prices likely to go down the pan doesn't seem a very good decision.

Some fools not holding posting nonesence as usual, I have seen this above on other places.

large volume and share price moving accordingly

Volume and rising today after being lower recently
the support line gets higher all the time

A RNS earlier on ......

Xtract Resources plc MoU on Gold & Copper Project in Chile

Exclusive Agreement to conduct due diligence and option to acquire 100% of the Chépica Gold and Copper Mine together with 100% of Mejillones Phosphate Property in Chile
Xtract Resources Plc (AIM: XTR) has signed a Memorandum of Understanding ('MOU') with Polar Star Mining Corporation ('Polar Star') which provides an exclusive four month period for further due diligence and an option to acquire Minera Polar (the 'Project'), which has an earn-in agreement on the Chépica gold and copper mine and the Mejillones Phosphate project in Chile.

Summary
-- Xtract has agreed to pay Polar Star US$250,000 which provides an exclusive four month option to conduct due diligence on Chépica ("Exclusivity fee").
-- Polar Star, via a 100% owned Barbados subsidiary, owns 100% of the Chilean company Minera Polar, which in turn has an earn-in agreement on Chépica, a gold and copper producing mine ('Chépica'), located 300km south of Santiago, Chile.
-- Polar Star, via a 100% owned Barbados subsidiary, Polar Star (Barbados) Limited, also owns 100% of the Mejillones Phosphate project ('Mejillones'), located near the city of Antofagasta in Northern Chile.
-- Chépica is an operating gold and copper mine with good cash flow potential. --

Mejillones is a phosphate development project covering 15,800 hectares with initial technical reports indicating the potential to delineate 60 to 200Mt of phosphate upgradeable to over 25% P205.
-- Should the Company elect to enter into a definitive agreement for the acquisition of Chépica from Polar Star, the previous JV agreement on Mejillones will be replaced and Xtract will own 100% of the project.

Jan Nelson, CEO commented: "Having outlined the strategy to focus on precious and base metal opportunities that could deliver near term production and cash flow, the Board believes the Chépica gold and copper mine could represent a major step in achieving our stated strategy. The Board intends to use the four month exclusivity period to review the operational and financial viability of the mine which is located in one of the more favorable mining investment regimes in the world. Should our due diligence prove successful, our primary focus would be on financing and developing the mining operation, however, the phosphate deposit represents additional upside that can be exploited through JV partners. I look forward to providing an update to shareholders in due course."

Chépica
Located 300km south of Santiago, Chile, Chépica is an operating gold and copper mine. Polar Star owns 100% of Minera Polar, which holds the rights to the Chépica property, through an earn-in agreement.
Mejillones
The Property covers approximately 15,800 hectares of a prospective phosphate deposit in Chile which is close to surface. Previous reports on the Property estimate the potential of approximately 60-200 million tonnes of open pit sedimentary phosphate with a concentrate grade of +25% P2O5 post upgrading. This will have to be confirmed upon future exploration work. The Property is within 15km of a major port accessible by paved roads.

Option Agreement
The MOU grants Xtract an exclusive right to conduct due diligence on the Project, and upon completion thereof, if the due diligence results are satisfactory to Xtract, to acquire the Sale Interest from Polar Star's interest in the Chépica property.
Xtract will pay Polar Star US$250,000 in cash ("Exclusivity Fee"). Polar Star agrees to utilise the Exclusivity Fee solely for the purpose of advancing this to Minera Polar, which will utilise the cash solely for purposes of discharging its obligations under the Earn-In Agreement.

At any time prior to the end of the Option period, should Xtract wish to purchase Chépica, it will give notice of its intention to do so and will commence negotiations on the terms of a definitive sale agreement.
Related Party
Colin Bird is a director of both Polar Star and Xtract and therefore deemed a related party under AIM Rule 4 for Companies. As a result Mr. Bird recused himself from any involvement, discussion or review process. With the exception of Mr. Bird, the directors of Xtract consider, having consulted with its nominated advisor, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

The Shares Magazine 'Mining and Resources Investor Evenings' have now become firmly established in investors diaries, so we are proud to offer you another chance to meet, hear from and ask questions of key senior management figures from carefully selected companies in the mining, oil and gas sector.

This event offers a unique opportunity not only to hear about the latest plans from some of the most exciting companies in the sector, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and your fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who make the market.

The evening conference is tailor-made for private investors and professionals who already have exposure to mining and resources stocks, or anyone who is considering putting money to work in these exciting and dynamic industries.

Tickets are completely free but places are strictly limited so register now.

SHARES MAGAZINE MINING AND RESOURCE INVESTOR EVENINGS - LONDON - WEDNESDAY 4th DECEMBER 2013



Venue: Novotel London Tower Bridge, 10 Pepys Street, London EC3N 2NR


Registration: 6.00pm Presentations: 6.30pm followed by a drinks/canapés reception


Companies Presenting: Herencia Resources (AIM:HER), Mariana Resources (AIM:MARL), Minco (AIM:MIO) and Xtract Resources (AIM:XTR)

REGISTER NOW FOR LONDON EVENT ON 4th DECEMBER 2013

SHARES MAGAZINE MINING AND RESOURCE INVESTOR EVENINGS - LONDON - THURSDAY 5th DECEMBER 2013



Venue: Novotel London Tower Bridge, 10 Pepys Street, London EC3N 2NR


Registration: 6.00pm Presentations: 6.30pm followed by a drinks/canapés reception

Companies Presenting: Ariana Resources (AIM:AAU), Ferrex (AIM:FRX), Horizonte Minerals (AIM:HZM) and Solgold (AIM:SOLG)

REGISTER NOW FOR LONDON EVENT ON 5th DECEMBER 2013

http://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/final-results/201406030700096543I/

It's all looking good. high speculative but lots of news due...mid tier company in the making in the coming month! dyor

movements lately

A very bullish RNS........

Chepica Mine - Delivering on key milestones

Xtract Resources Plc (AIM:XTR) announces an operational update on key milestones at the Chepica Gold and Copper Mine in Chile ("Chepica"). On 30 March 2015, the Company raised £1.75m which was to be deployed towards further underground development at Chepica and to carry out drilling and metallurgical test work on the Xtract's sulphide copper tailings dumps in South Africa ('O'Kiep Project'). The Company can confirm that good progress has been made at Chepica and the following objectives have been achieved:

· The mine reached its target of achieving profitability one month ahead of schedule in May 2015

· The mine is on track to achieve a profit margin of 60% by the end of Q3 2015 (exceeding management's pre-fundraising commitments to investors of 35%)

· The mine is on track to make a monthly profit of US$500k by the end of August 2015. Whilst there will be some seasonal variations going forward, Xtract expects this level of profitability to be maintained on average in each quarter as per the pre-fundraising commitments to investors

· Xtract also expects the mine's quarterly revenue from Q3 onwards to comfortably exceed its earlier estimate of US$1.2m per quarter as per the pre-fundraising commitments to investors

· Open pit mining commenced in March 2015, six months ahead of schedule (as per pre-fundraising commitments), and mining is continuing on two open pit areas, with a third open pit area currently being prepared for mining

· The Company plans to commit 27% (or US$700k) of the funds raised in March to provide (a) underground support, (b) new development and (c) on-mine exploration

· The Company intends that a further US$500k will be spent on on-mine exploration and drilling in Q3

· Xtract is also committed to developing the Colin, Francisco and Theoni prospects, in addition to a fourth prospect, Chepica Main, to increase mining flexibility and avoid the risk of production stoppage as was committed to investors as part of fund-raising

· Since the fundraising, the mine has produced consistently and without interruptions

· Chepica is also on target to achieve throughput of 10,000t by September 2015 (as per pre-fundraising commitments to investors)

Going forward, Xtract intends to provide quarterly updates with particular reference to production at the Chepica mine.

The Company will provide an update on the progress of the South African copper projects and expenditure at the Annual General Meeting to be held at 13.30 on the 29 June 2015 at the Pelham Hotel, 15 Cromwell Place, South Kensington, London, SW7 2LA. Notice of the Company's 2015 Annual General Meeting has been posted to shareholders, and the Annual Report for the year ended 31 December 2014 is also available on the Company's website www.xtractresources.com.

Jan Nelson, CEO of Xtract, said: "We are absolutely delighted with the excellent progress made at Chepica over the past few months and that we are on track to exceed forecasted revenue and profit for Q3 2015, as we committed to investors as part of our fundraising. The team has made excellent progress at Chepica and we intend to keep this momentum up as we develop out this exciting project."

Now going places as volume has shoot up

Is it ready for the bounce after a week of marked down

Shares Magazine- today

Xtract Resources’ golden move
Small cap set to hit institutional investor radar with mine acquisition

A discounted share placing to buy a mining project previously discarded
by the chief executive under a previous job has left some Xtract Resources
(XTR:AIM) investors scratching their heads. Don't panic; this looks a very interesting deal and one which could help the small cap become a 100,000 ounce per year gold producer in the not-too-distant future.
The $12.5 million purchase of the Manica gold project in Mozambique will elevate

Xtract's status and likely put it on the radar of institutional investors. Chief executive Jan Nelson has a good reputation in the gold market from his days running Pan African Resources (PAF:AIM).
Gaining the interest of City analysts, fund managers and private equity vehicles should make it easier to raise money down the line to develop Manica's Fair Bride deposit and potentially a copper project under evaluation in South Africa. Xtract will need an estimated $28.4 million to bring the open pit element of Fair Bride into production. Internally-generated cash is expected to fund a further $14.8 million
bill to develop the underground operations four years later.

Nelson says he hopes to majority fund the open pit element through debt finance and/or agree to sell up to a quarter of gold production at a discount in exchange for upfront cash from an offtake partner. The project already has a mining licence and is only four months away from having a completed bankable feasibility study.
Manica was sold in 2012 by Pan African under Nelson's leadership. He implies that Pan African's biggest shareholder at the time (Metorex) forced the disposal of the asset to focus on the producing Barberton mine. 'It was a spin-off. We put the asset into Auroch Minerals (AOU:ASX) which has subsequently made significant improvements to it.

'It was always a great asset; Metorex (MTX:JSE) wouldn't have reversed into Pan African if it wasn't for the work (the latter) did to prove up Manica,' says Nelson. 'Auroch has since done a lot of good work but it has become difficult for them to raise capital,' he adds.
Xtract has proved its ability to secure funds with approximately £11 million raised in the past 12 months.Manica is expected to produce just under 50,000 ounces of gold annually, starting from early 2017. Nelson says there is potential to go to 100,000 ounces per year by exploiting satellite pits around the mine. Xtract already produces gold in Chile from the Chepica deposit. 'That is a 12,000 ounce a year mine operation which could go to 25,000 ounces a year through us being a regional consolidator,' adds the CEO.

Based on the current 0.3p share price, Xtract will be valued at £25.8 million once new shares associated with the Manica deal and the final payment for the South Africa copper project are issued on 3 July.
Retail shareholders are losing patience given a string of dilutive placements. Now looks the point where longer-term investors will enter. Manica has the hallmarks of elevating Xtract's status,

Glenn Whiddon commented that Xtract had an excellent technical and operating team
5th July 2015
http://goo.gl/1kbVvP

The appointment of Glenn Whiddon is a significant step as it places more control in the hands of the shareholders and of a group that has a demonstrated track record in generating value.
What would really transform the Company would be the management “Trinity” of Messers Bartlett, Sinclair and Whiddon, but in the absence of Bartlett the dynamic duo of Sinclair and Whiddon is a pretty close second. As such, we believe that positive things should now start to happen, and while there is a long way to go before value can be restored, this is a timely first step.

CEO.
“As we indicate in our corporate presentation and as also highlighted in external research available on our website, the value of Azonto’s interest in Gazelle is significantly in excess of our current market capitalization.,the economics remain fully robust even though the price of oil has fallen significantly in recent months.
We look forward therefore to working with Vioco towards project sanction and unlocking full value for shareholders.”

Is the share price ready for a bounce after such a dismal performance since the last news?

Today there is volume and a bit of a bounce, the chart is signaling that.

Though on holidays today´s I pip at the net and was a good feeling to see the market since yesterday bouncing back.

on the up to 0.29p +0.03p

Copper cash official confirmed $/mtonne 5605.25 +44 (0.8%)

Copper Prices Edge Higher on Signs of Stability From China

Copper prices inched higher Monday on support from a firmer Chinese stock market and data showing the country's imports of copper stabilized in June.

The most actively traded contract, for September delivery, was recently up 0.2 cent, or 0.1%, at $2.5395 a pound on the Comex division of the New York Mercantile Exchange.

Last week, copper prices plunged to six-year lows after a selloff in China's share market fueled fears the losses would spread to the wider economy and damp demand for raw materials. China is the world's top copper consumer, accounting for about 40% of global demand, and investors worried that a troubles in the stock market could hamper broader economic activity. Copper is widely used in manufacturing and construction and is a core input into everyday goods like phones, computers and cars.

On Monday, copper prices turned higher after Chinese stocks rallied. The Shanghai Composite Index rose 2.4% to 3971.14, up 13% since Wednesday and locking in its third straight day of gains. The smaller Shenzhen Composite Index rose 4.2%. The gains came as 355 stocks resumed trading after a lockdown by authorities.

"The rebound in Chinese equities is certainly helping the situation," said Dave Meger, director of metals trading at High Ridge Futures in Chicago. The stock rally is helping to re-establish investor confidence in China and the government's ability to keep its economy on course toward its target growth, he said.

Copper futures are also getting a boost from investors looking for a bargain in the wake of last week's selloff, Mr. Meger said.

China's imports of copper and copper products totaled 350,000 metric tons in June, unchanged from a year earlier, according to the General Administration of Customs. Still, imports for the first six months of the year were down 11% from the same period of 2014, reflecting this year's slowdown in China's demand for the industrial metal.

"Imports could improve in (the second half) as China's economy seems to be stabilizing and strong government infrastructure programs continue," analysts at Barclays said in a note to clients.

Copper Prices Edge lower as China prospects for their economy is lower growth so demand for raw materials will be well down

But XTR reached a bottom of the last retracement yesterday and has been moving higher since

Copper Rebounds From Six-Year Low

Copper prices rose on Thursday, pulling up from a six-year low as gains in other metals and purchases by investors who sought a bargain lent support.

The most actively traded contract, for September delivery, rose 4.35 cents, or 1.9%, to settle at $2.3195 a pound on the Comex division of the New York Mercantile Exchange.

Prices of the industrial metal have been plumbing lows last seen in July 2009 as investors wagered that slower economic growth in China would translate into lower purchases by the country. China is the world's top copper consumer, driving about 40% of global demand. Recent signs of slower manufacturing and construction activity have pushed traders to bet that copper prices would fall.

On Thursday, however, copper got a respite from the recent drubbing as some investors sought to buy the metal while its price is depressed.

"You have some bottom-pickers out there," said Bill O'Neill, co-founder of commodities investment company Logic Advisors.

Some investors who have been betting on further losses in copper also sought to close out those bets and lock in recent profits.

Speculative traders in copper futures and options have been net bearish for 10 straight weeks, according to weekly data from the Commodity Futures Trading Commissionreleased on Friday.

Still, copper is likely to continue marching lower in the coming weeks should economic data from China point to continued deterioration, said Mr. O'Neill...........

KEEP an EYE

@ 0.255p

From earlier on the volume was large and now share price moving higher, has been at this lower end for some time at the chart. Copper price looks to be ready for a push forward. Positive level 2 of 2 v 1. The large volume sounds of expectations of share price breaking the 50MA now very close. Indicator Stochastic well oversold.