Last checked at 1 Nov 2019 07:00
1 November 2019
Arc Minerals Ltd
('Arc' or 'Arc Minerals' or the 'Company')
Arc announces appointment of new Finance Director
Arc Minerals is pleased to announce the appointment of Rémy Welschinger, an existing Director of the Company, as Arc Minerals' Finance Director effective today. Mr Welschinger replaces John Forrest who is retiring.
Nick von Schirnding, executive chairman of Arc Minerals commented: "I am very pleased to announce the appointment of Rémy as our Finance Director, someone I have worked closely with over the past few months. Rémy brings a wealth of experience from the banking and mining sector and has played - and will continue to play - a key role in accessing capital for the Company. My thanks to John Forrest who has served the group over a number of years and we wish him well with his future endeavours."
Rémy Welschinger commented: "I am delighted to be taking up an executive role as Finance Director of Arc. I believe we are sitting on some of the most valuable copper prospects in Africa and look forward to building an exciting future for all our shareholders."
Notes to Editors:
Rémy Welschinger is the founder and managing director of Limehouse Capital, an investment holding company specialising in natural resources projects. Up until 2018, he was head of commodities sales in Europe for Deutsche Bank. Prior to that, Mr Welschinger was an Executive Director in the Fixed Income and Commodities division of Morgan Stanley in London. Mr Welschinger graduated from Cass Business School, London, with a MSc in Investment management.
**ENDS**
Contacts
Arc Minerals Ltd Nick von Schirnding (Chairman)
| +44 (0) 20 7917 2942
|
SP Angel (Nominated Adviser & Broker) Ewan Leggat / Soltan Tagiev
| +44 (0) 20 3470 0470
|
Notes to the Editors
Arc Minerals is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia.
ARC Minerals current holdings include:
● 100% interest in CASA Mining Limited, a private company that has a 71.25% interest in the 3-million-ounce inferred Resource Akyanga gold deposit in the DRC.
● A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper t licence in the Zambia Copperbelt, together with a convertible loan to Zamsort which converts into approximately a five percent additional equity interest in Zamsort.
● A 47.5% equity interest in Zaco Limited ("Zaco"), a private company focussed on a prospective copper and cobalt license adjacent to Zamsort.
● 100% ownership of the Kremnica Mining Licence Area in Slovakia which host the 1.3Moz AuEq Au PFS stage Ṧturec Gold Project.
For more information visit www.arcminerals.com
Forward-looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.