Xtract Resources - Re: XTR Stream Log - Read Beaufort Securities's note on...

Read Beaufort Securities's note on XTRACT RESOURCES PLC (XTR), out this morning, by visiting Research Tree "Management cited substantial dilution and additional debt has the main reasons not to proceed with the development of the Manica Gold project. The estimated initial capital expenditure was US$38m plus an additional US$14m for underground development. To this end, the required capital could have resulted in significant dilution to the current market capitalisation. The sale of Manica, at a 40% return on the initial investment, allows Xtract to focus on its producing Chepica mine in Chile while firming up its balance sheet. We understand that the company is also evaluating other potential high return projects. We look forward to more information regarding the company's strategy as well as updates on operational activity at..." It's free to access