Xtract Resources (AIM:XTR), the AIM-listed mining company, said site preparation work at its Amghas antimony project in north-west Morocco is now moving from planning into practical execution.
The company has appointed local mining and civil works contractors to advance access roads, underground safety preparation and infrastructure ahead of construction of a 70,000 tonnes per annum gravity processing plant for run-of-mine material.
"We believe the Company is well positioned to advance the project towards commissioning of the gravity plant on receipt of the environmental licence, which has been applied for, to unlock value from this strategically relevant antimony asset in Morocco," said Executive Chairman Colin Bird.
Underground work completed or in progress includes clearing mine portals, drives and galleries, removing accessible mineralised material for stockpiling, and building benches to house the gravity plant.
The civil contractor completed a final site visit on 25 July before starting construction, and an impact crusher was purchased the same day for the plant.
Shaking tables will be used initially to produce an antimony-silver gravity concentrate for sale, with a jig to follow once fabricated and shipped to Morocco.
Amghas received its mining licence on 2 June, permitting mining activity, but the gravity plant cannot begin processing until an environmental permit, already applied for, is granted.
Xtract said it is continuing plant construction to be ready for commissioning as soon as that permit arrives.
News Intelligence what this means for the company
Xtract Resources has moved its Amghas antimony project from planning into active site preparation, appointing local contractors to build access roads and underground infrastructure ahead of a 70,000 tonne-per-annum gravity processing plant. The company obtained its mining licence on 2 June but remains dependent on an environmental permit—already applied for—before the plant can begin processing, a constraint that limits near-term value realisation.
The appointment of contractors and purchase of processing equipment signal operational momentum, but the project's timeline and capital requirements remain hostage to environmental permit approval. Without visibility on permit timing or total capex for the 70,000 tpa plant, this is a step forward in execution risk rather than a material de-risking of the investment case.
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