Arc Minerals Limited Sale of Sturec Update (2445D)
February 17 2020 - 8:58AM
UK Regulatory
TIDMARCM
RNS Number : 2445D
Arc Minerals Limited
17 February 2020
17 February 2020
Arc Minerals Ltd
('Arc' or the 'Company')
Sale of Sturec Update
Arc Minerals ("Arc" or the "Company") is pleased to announce
that following announcements made on 19 November 2019, 30 December
2019 and 7 February 2020, the Company has today closed the Sale and
Purchase Agreement with MetalsTech Limited in respect of the sale
of its wholly-owned subsidiary, Ortac Resources (UK) Limited, which
holds Arc's interest in the turec gold project in Slovakia, an
Australian listed mineral exploration company for a gross
consideration of up to US$8m.
Arc confirms that it has today received the first tranche
payment.
**ENDS**
Contacts
Arc Minerals Ltd +44 (0) 20 7917
Nick von Schirnding (Chairman) 2942
SP Angel (Nominated Adviser
& Broker) +44 (0) 20 3470
Ewan Leggat / Soltan Tagiev 0470
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
Notes to the Editors
Arc Minerals is an AIM listed exploration and mine development
company focused on a diversified portfolio of mining projects with
interests in the Democratic Republic of the Congo and Zambia.
ARC Minerals current holdings include:
-- 100% interest in CASA Mining Limited, a private company that
has a 71.25% interest in the 3-million-ounce inferred Resource
Akyanga gold deposit in the DRC.
-- A 66% equity interest in Zamsort Limited ("Zamsort"), a
private company focused on a prospective copper t licence in the
Zambia Copperbelt, together with a convertible loan to Zamsort
which converts into approximately a five percent additional equity
interest in Zamsort.
-- A 52.5% equity interest in Zaco Limited ("Zaco"), a private
company focussed on a prospective copper and cobalt license
adjacent to Zamsort.
For more information visit www. arcminerals.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDKKOBPNBKDPBD
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