A very bright future16 Feb 2018 09:05
Back after a couple of days absence . It was interesting to see the two non holding individuals back again. These bitter people who are mired in the past claim to have lost money with ARCs previous incarnation. More fool them. Why on earth would anybody listen to them, self confessed terrible investors. They will claim to be here trying to help people and warn them away. In fact we all know that they are simply bitter and want to damage the company in some perverted form of payback. Rather than help people they are desperate for the price to go down to justify them selling out at the wrong time.
In fact it is normal for this type of loser investor to both buy and sell at the wrong time. Something it is clear that these people have done.
The company has never been in better shape with a new focused BOD and a clear strategy. There is money in the bank that will fund operations until the end of this year.
Arc Minerals also agreed a settlement of the $3.75m vendor royalty relating to the original purchase of the Sturec gold project in Slovakia. The royalty came into existence following the purchase of the asset from Tournigan in 2010. In addition, a 2% Net Smelter Royalty on gold production which was able to be purchased for $2m from Tournigan has also been settled.Arc Minerals will pay a total settlement figure of �50,000. A fantastic result.
Nick von Schirnding, the Company's Executive Chairman commented: "I am very pleased to report the extinguishing of a significant liability for Arc Minerals. The removal of this liability will also help progress a clean and expedited sale of our Slovakian asset going forward."
The clear strategy has led to the companys strategy being focused on CASA , an exciting Gold prospect in the DLR.
Nick von Schirnding, Ortac's Executive Chairman, commented:
"These results are encouraging and show shallow intersections in the south linking up previously identified zones of mineralisation. The high grade nature of some of the mineralisation intersected, in particular 108g/t - one of the highest individual assays recorded to date at Akyanga, supports our view of a higher grade resource at Akyanga than has been previously modelled. In the meantime our third drill rig is expected to arrive shortly to accelerate the current drill programme.
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