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May 29th, 2016 
Awake Goy 
nsnbc : Xtract, a company based in the United Kingdom, announced that it would sell its Manica gold project near the Mozambican town of Vila Manica to Nexus Capital Limited and Mineral Technologies International.
(archives)
In June 2015 Xtract acquired the Manica gold project from the Australian Auroch Minerals for 12.5 million dollars but government approval for the concession came only in March 2016.
Xtract will reportedly receive 17.5 million US dollars from Nexus Capital Limited and Mineral Technologies International for its license.
The main gold deposit, known as Fair Bride, is estimated to hold 1.257 million ounces of gold. With current technologies, mining will recover three grams of gold for every ton of processed material.
Xtraxt estimates that it could mine 48,000 ounces of gold per year at the main gold deposit known as Fair Bride at a production cost of 670 dollar per ounce. The current gold price is around 1,230 dollars.
The terms of agreements between Xtract, Nexus Capital Limited and Mineral Technologies International stipulate that Xtract has to complete a bankable feasibility study by the end of June and forfeit one million dollars.
The license in question covers hard rock as well as alluvial deposits. Xtract had planned to begin gold production from alluvial deposits by the end of 2016 and from hard rock deposits in the last quarter of 2017.
F/AK – nsnbc 29.05.2016
Source Article from http://nsnbc.me/2016/05/29/british-xtract-to-sell-manica-gold-project-in-mozambique/
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