Xtract Increases Stake in Moroccan Antimony Venture
Why we think this is neutral
This is a general update on Xtract increasing its shareholding in its Moroccan antimony venture, Wildstone SARL. The announcement does not contain any specific financial figures, trading updates, or other mandatory news categories. As such, the sentiment is considered neutral, as the news does not provide significant new information to drive a strong positive or negative reaction.
Key Points
- Xtract's equity interest in Wildstone SARL increased to 80%
- Increase achieved through Wildstone issuing additional equity to Xtract
- Moroccan partners granted Xtract the maximum 80% interest ahead of the previously agreed expenditure commitment
Summary
Xtract Resources Plc has announced that it has increased its equity interest in Wildstone SARL, its Moroccan antimony venture, to 80%. This was achieved through Wildstone issuing additional equity to Xtract, ahead of the previously agreed phased expenditure commitment of at least US$900,000 over three years. The company's Moroccan partners have elected to grant Xtract the maximum 80% interest, reflecting Xtract's technical and financial contributions to date.