UK 09:18 Sunday, 25 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Expansive and newly popular Xtract Resources (XTR) is poised to make another acquisition, this time of an as yet unnamed South African gold producer capable of delivering 60,000 oz. to 100,000 oz. a year, according to chief executive officer Jan Nelson. Shares in Xtract, highlighted here in April at 0.25p, have bounced from a barely-visible 12-month low of 0.07p to 0.41p, as the company has increased potential resources in and around its three-year Chepica copper and gold project in Chile, and Nelson, ex-boss of Pan African Resources, declares the proposed acquisition, which would involve issuing shares, could ‘seriously transform’ the IM-quoted company’, now valued at £26.25 million.
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Comments
Marvin
Nelson wants to get there fast.
Maybe too fast. Mining assets (especially those that can produce 100k oz of gold per annum) cost wonga and while Chepica may or may not be making a profit, the company sure isn’t yet which means more fund raising and that means institutions or the continued love from current investors. Possible I suppose.
J P Spaghetti
“the shares, though not without risk, could make further progress”
Well CO certainly seems to think so!