Arc Minerals Ltd - base metals exploration company focused in Africa - Says subsidiary Alvis Crest Ltd receives renewal from the Department of Mines for two prospecting licenses, known as the Virgo project, in Botswana. Says the two licenses have been renewed for another two years until September 30 2024.
Executive Chair Nick von Schirnding says: "The renewal of these prospecting licenses comes at an important time as we have commenced with our maiden scout exploration drill programme on these two licenses. The expedient manner in which the renewal application was completed is testament to Botswana being such an attractive destination for mining investment."
Arc Minerals bought a 75% interest in Alvis-Crest in November last year.
Current stock price: 3.55 pence, up 4.3%
12-month change: up 6.5%
By Xindi Wei; xindiwei@alliancenews.com
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Arc Minerals (ARCM)