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Pin to quick picksArc Minerals Share News (ARCM)

Share Price Information for Arc Minerals (ARCM)

London Stock Exchange
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Share Price: 2.60
Bid: 2.50
Ask: 2.70
Change: 0.00 (0.00%)
Spread: 0.20 (8.00%)
Open: 2.75
High: 2.75
Low: 2.60
Yest. Close: 2.75
ARCM Live PriceLast checked at -

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Arc Minerals disposes of Casa Mining stake

Wed, 13th Nov 2019 09:46

(Sharecast News) - Africa-focussed exploration company Arc Minerals has agreed to sell its entire 99.43% interest in Casa Mining to Century Capital Management for up to $9.8m.
Arc Minerals will receive an initial consideration of $1.8m from the Canadian private equity group - an amount the group said would have "a significant positive impact" on its cash and balance sheet position.

The AIM-listed company will also be entitled to receive $2.5m in cash if Casa's mineral resource estimate increases to six million ounces during the five-year period from the closing of the transaction, with an additional $2.5m payable on the resource increasing to nine million ounces and a further $3m if it reaches 12m ounces.

Chairman Nick von Schirnding said: "This is a major strategic milestone for Arc. The transaction brings significant cash resources to Arc and at the same time removes ongoing opex.

"Crucially, it allows us to focus on our exciting Zambian copper development where we are making excellent progress both on drilling and commercially developing our plant."

At 1040 GMT, the shares were down 2.6% at 2.80p.

More News

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

9 Dec 19 15:47

Arc Minerals Finds High Grade Copper At Cheyeza East Target In Zambia

Arc Minerals Finds High Grade Copper At Cheyeza East Target In Zambia

4 Dec 19 16:21

Arc Minerals shares rise on 'excellent' results from Cheyeza

(Sharecast News) - Zambia-focussed copper exploration and development company Arc Minerals announced additional near surface, high grade copper assays from its maiden diamond drill exploration programme at the Cheyeza East target in Zambia on Wednesday.

4 Dec 19 09:32

Arc Minerals Acquires Further 5% Interest In Zaco For USD37,500

Arc Minerals Acquires Further 5% Interest In Zaco For USD37,500

3 Dec 19 12:29

Arc Minerals takes controlling stake in Zaco

(Sharecast News) - Africa-focussed exploration junior Arc Minerals acquired a further 5% interest in copper and cobalt miner Zaco on Tuesday, giving the group a controlling stake in the firm.

3 Dec 19 09:27

Arc Minerals Signs Sale Option Amid Focus On Zambian Copper

Arc Minerals Signs Sale Option Amid Focus On Zambian Copper

19 Nov 19 14:33

Arc Minerals Focused On Copper As It Finds Buyer For DRC Asset

Arc Minerals Focused On Copper As It Finds Buyer For DRC Asset

13 Nov 19 11:10

Arc Minerals disposes of Casa Mining stake

(Sharecast News) - Africa-focussed exploration company Arc Minerals has agreed to sell its entire 99.43% interest in Casa Mining to Century Capital Management for up to $9.8m.

13 Nov 19 09:46

Arc Minerals Finds More Cheyeza East High-Grade Copper Intersections

Arc Minerals Finds More Cheyeza East High-Grade Copper Intersections

5 Nov 19 14:17

Arc Minerals announces latest copper assays from Cheyeza East

(Sharecast News) - Zambia-focussed copper exploration and development company Arc Minerals announced the receipt of additional near surface, high grade copper assays from its maiden diamond drill exploration programme at the Cheyeza East target on Tuesday.

5 Nov 19 11:42

Arc Minerals Finance Boss Forrest Retires; Welschinger Replaces

Arc Minerals Finance Boss Forrest Retires; Welschinger Replaces

1 Nov 19 12:32

Arc Minerals ropes in Remy Welschinger as new finance director

(Sharecast News) - Arc Minerals announced the appointment of Rémy Welschinger, one of its existing directors, as its finance director effective immediately on Friday.

1 Nov 19 09:45

Arc Minerals Sells First Copper From Kalaba Demonstration Plant

Arc Minerals Sells First Copper From Kalaba Demonstration Plant

31 Oct 19 18:31

Arc Minerals Swings To Loss; To Benefit From Higher Copper Demand

Arc Minerals Swings To Loss; To Benefit From Higher Copper Demand

1 Oct 19 16:42

Arc Minerals pleased with soil sampling in Zambia

(Sharecast News) - Arc Minerals updated the market on the recently-completed infill soil sampling programs over the Lumbeta and Muswema target areas, within the 872 square kilometre Zamsort and Zaco exploration licence areas in the Domes Region of the North Western Province in Zambia, on Tuesday.

17 Sep 19 16:06

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