Business
Q1 Operational update
Q1 Operational update.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1871X Xtract Resources plc 04 May 2016 \n\n4 May 2016\n \nXtract Resources Plc \n(\"Xtract\" or \"the Company\")\n \nQ1 Operational update \n \nXtract Resources Plc (AIM:XTR) announces an operational update for the Chepica Gold Mine in Chile (the \"Mine\"), including unaudited financial information, for the three months to 31 March 2016 (\"Q1 16\") and outlines its targets for Q2 and Q3 2016. Reflected in the results is the impact from revenue being generated for just one month* out of the three, whilst costs were incurred throughout the three months, as the processing plant was not running in January and February 2016.\n \nKey reporting metrics for Q1 2016 \n \n· Revenue decreased by 38% to US$230,663 (Q4'15: US$375,802) \n· Costs increased by 48% to US$249,103 (Q4'15: US$167,533) \n· Loss of US$18,440 (Q4'15: profit of US$208,269)\n· On reef development increased by 87% to 285 metres (Q4'15: 152 metres) \n· Off reef development in the quarter totalled 86 metres (Q4'15: 0 metres) \n· Decline and incline development decreased by 65% to 135 metres (Q4'15: 385 metres) \n· Stope tons increased to 1,645t (Q4'15: 0t)\n· Total tons mined increased by 228% to 18,212t (Q4'15: 5,546t)\n· Total tons milled decreased by 25% to 11,066t (Q4'15: 14,865t) \n· Mill gold grade increased by 36% to 2.25g/t Au (Q4'15: 1.65g/t Au) \n· Mill copper grade increased by 7% to 0.80% Cu (Q4'15: 0.75% Cu) \n \n* The plant was restarted on 5 February 2016 and underwent a period of cold commisioning and was fully operational by 20 February. Concentrate was only produced in March and as a result Revenue only flowed in the month of March. The plant was restarted with current material in the system and this material was treated untill the end of February when new material was milled and fed to the plant. This was done to ensure optimum recoveries of the newly milled feedstock and as a result material was only milled duri...