Last checked at 14 Jul 2020 09:51
Arc Minerals Ltd
('Arc' or 'Arc Minerals' or the 'Company')
Exclusivity Agreement with Anglo American
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 will continue with its existing drilling programme during the period of the agreement.
There can be no guarantee that Arc Minerals or any company in its group will complete any commercial transaction.
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
|
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Notes to the Editors
Arc Minerals is an AIM listed exploration company focused on its exciting Zambian copper exploration projects.
Arc Minerals is a dynamic AIM listed exploration and mine development company focused on the discovery and development of large-scale copper and copper cobalt deposits in the Western part of the Zambian Copperbelt.
ARC Minerals current holdings include:
● A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper licence in the Zambia Copperbelt.
● A 72.5% equity interest in Zaco Investment Limited ("Zaco"), a private company focussed on a prospective copper and cobalt license adjacent to Zamsort.
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.
ENDS