Todays trades16 Jul 2019 13:56
5 July 2019
Arc Minerals Ltd
Acquisition of further interest in Zaco
Arc Minerals Limited ("Arc" or the "Company"), is pleased to announce that it has acquired a further 5% interest in Zaco Limited ("Zaco"). Arc now holds a 47.5% interest in Zaco.
Following the discovery of the large West Lunga target (as per the announcement dated 4 July 2019), Arc Minerals has purchased a further 5% interest in Zaco from Rémy Welschinger, a Non-Executive Director of Arc, for a total consideration of 1,414,000 New Ordinary Shares of no par value in the share capital of the Company ("New Ordinary Shares").