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I previously posted incorrectly about the end date of Phase 1 when Arc receive $5.3m (two thirds of the $8m payment from Anglo)

From RNS 15.01.25 Zambia Licence Update

· Phase 1 - Anglo will pay $14.5M in staged cash payments to Unico Minerals Ltd (67% owned by Arc) and invest up to $24m in exploration expenditures (total $38.5M) within three years and 180 days of the signing of the Agreement (RNS 20.04.23) to secure a 51% interest in ZCP.

As the agreement was signed 20.04.23, then 3 years 180 days later, then Phase 1 ends and the final payment is due circa 17.10.26

Apologies for any confusion caused.

Thanks to Graham Turner on X, NvS has given this response

Question: When will the drilling program in Zambia be released?

Answer: When we receive the final report from Anglo

At least that means we will be getting a JV drilling program for this year.

It would also suggest that Arc expected to have the report before their booked Proactive Presentation. As they didn't get it in time they dropped out of the presentation, as they had little else of note to report. That explains the General Update and it should mean the Drilling Plan shouldn't be far away.

I didn't see that before my last post....

Not good, no intercepts at either the last three JV holes in Zambia or Botswana and he will report back over the coming months on the various drilling plans.

We need to get drilling asap, when he does eventually announce it we will be waiting at least another 6 months before any assay results.

(last year drilling commenced August 7th 2024, first assay results 4th February 2025)

I actually see this as a positive. My fear was this presentation would be all about Chingola which is frankly years away from generating any cash, unless we sell it.

By delaying the presentation it shows they did actually intend making a fresh announcement prior to the event. It is presumably either about this year's drilling campaign or possibly the outstanding Botswana assays. For reasons we don't know they have had to postpone the announcement but whatever it is, it must be close.

Is anyone able to attend this presentation tomorrow?

You cannot view it live online as far as I can see, I'm hoping it is recorded and posted online after the event.

Just to clarify Phase 1 doesn't end in 2026.

The final completion of the JV deal was announced in an RNS 10th November 2023.

Phase 1 runs for 3 years 180 days or 3.5 years near as damn it.

Therefore Phase 1 ends circa 8th May 2027.

The key thing here now is how serious Anglo are about drilling this year.

I think we all believe Anglo want the acreage so they will spend the required money over the next two years.

It would seem foolish to have another year of spending very little as it would mean them having a fairly manic last year.

We know they are methodical but I would expect them to have a busy year's drilling this year and at least spend around half of the outstanding $21m on exploration.

Hopefully we get more information about the proposed drilling plan than we got last year, which was very little, at the very least how many sites they intend drilling.

If Arc do the Proactive presentation with nothing new, it would seem fairly pointless so maybe that is when we get an idea of what the JV have planned for this year.

They should have had their end of quarter JV meeting by now, so I think today or tomorrow we should get the results.........

The very long wait for these assay results is very frustrating and annoying. It is getting close to four months since Anglo stopped drilling in Zambia and it is hard to accept that a company the size of Anglo is still waiting on the results.

However, it may be a good thing if both sets of results land very close together at the end of this month. If they both show copper, getting two positive results, from two different countries, it could just be what is needed to wake the market up to the potential here, especially when we are getting close to a new year's drilling campaign.

Just personal preference but I'd prefer an outright sale of Botswana that would put us on a sound financial footing to last through to the end of Phase 1 and we'd still have the JV and Chingola.

The current JV took an age to agree and I wouldn't want to through that again.

With money in the bank and the JV progressing I think we would then see the share price improve to more realistic levels.

It is reasonable to assume the JV meet quarterly, why would Anglo want to meet more frequently.

The last Zambian assay results were released Tuesday February 4th, presumably straight after the last quarterly JV meeting at the end of January.

If that is correct then the next JV meeting with be held at the end of April and we should get the assay results just after that, so three weeks to wait for those.

If we are to get any information about this year's drilling campaign that should be released at the same time. Given what scant information we were given last year I wouldn't expect much detail but if we at least know which sites they are targeting we can get a better view of how serious Anglo are this year.

The Botswana results could land anytime and I would suggest they are already overdue.

Https://x.com/ruffles80/status/1909245347177636004

A David vs Goliath battle over Chingola. Kobold has been circling this particular license for a long time. Wouldn’t be surprised to see a sensible offer land @ARCM, #ARCM👍

$2-3m 🧏

As the portfolio of attractive copper licences grows and the market cap stays nailed to circa £21m, then the likelihood of an attempted hostile takeover increases.

A very positive article

https://www.dailymail.co.uk/money/investing/article-14579521/SMALL-CAP-IDEA-Greatland-Gold-destined-FTSE-status.html

Https://www.proactiveinvestors.co.uk/companies/news/1069194/arc-minerals-expands-portfolio-with-acquisition-of-chingola-copper-project-in-zambia.html

DiamondGeazer

I tend to agree with you re the Zambian assays, I also believe Anglo have already got them and we are waiting for the next meeting when Nick is updated and told what he can release.

Botswana assays are still outstanding and they should be released as soon as they arrive. I emailed the company a couple of days ago and they said they are chasing them up.

As to what Anglo spent in year one, it's anyones guess but not a great deal.

Charles Archer estimates there is still circa $21m to spend on exploration before the end of Phase 1

Drilling in Zambia finished just before Christmas roughly 3 months ago. The thing we don't know is when the cores were sent off but the results can't be far away now.

The last Corporate Investor Presentation was issued 13 months ago in January 2024.

Since then we have found more copper, had an LML granted and had a high court injunction issued but no updated presentation.

I am presumimg we will get an updated one after the last assay results are released.

They should update these on a regular basis, its not as though they have a lot else to do.

It will be interesting when the assay results finally land to see how comprehensive they are. If copper has been found I want to know how many metres and at what percentage, things Arc have done in the past with their own drilling campaigns.

As we haven't had any from Anglo yet, we will have to see what we get.

What I don't want to see is a statement like "we found copper up to 1.4% copper" or something similar.

This tells us nothing about the actual quantity found and is usually used to make a poor campaign appear to be better.

Hopefully we get comprehensive results but given what Anglo has given us up to now (which frankly you could write on the back of a postage stamp) I am intrigued as to what we are actually going to get.

I was told on the 27th September that assays were being sent away for testing, so they are definitely overdue.