RE: news flow16 Apr 2021 18:10
You may be correct, but hopefully only to the satisfaction of the board if a deal is incoming, personally to extend the EA again, is pushing it IMHO with regard to the time already taken as shown on previous RNS’s. If you wanted X, (now obvious)but knew the Chinese may also want X, with all the news flow on copper, would you leave it to expiry? Our deal specialists are 6 weeks in now...time is money.
Arc Minerals is pleased to announce that its two subsidiaries, Zamsort and Zaco, have signed a confidentiality and 6 month exclusivity agreement with a subsidiary of Anglo American ("Anglo American") in respect of its copper exploration licenses in Zambia.
During the exclusivity period, Anglo American will be permitted to conduct a technical review which, if satisfactory, may result in an extension of the exclusivity and the negotiation of a commercial transaction.
Arc Minerals announces that, following the Exclusivity Agreement signed with Anglo American (as announced in an RNS on 14 July 2020), the Company has been informed that Anglo American has completed its technical review and will be submitting specific due diligence queries in respect of the Zamsort and Zaco companies.
Arc Minerals ("Arc") announces that it has received a formal notice from Anglo Exploration Zambia Ltd ("Anglo American") dated 6 January 2021 that, following due diligence, it is sufficiently satisfied to give notice to conduct negotiations in respect of a commercial transaction. prior to the expiry of the extended exclusivity period of 180 days, commencing in January 2021.