Last checked at 31 Mar 2023 07:00
31 March 2023
Arc Minerals Ltd
('Arc Minerals' or the 'Company')
Extension of Exclusivity Agreement
Arc Minerals is pleased to announce an update on the proposed Joint Venture with a subsidiary of Anglo American plc ("Anglo American") in respect of its copper interests in North Western Zambia (the "Joint Venture").
To accommodate the completion of certain outstanding steps, a 13 business day extension to 21 April to the exclusivity under the letter of intent with Anglo American has been agreed.
All substantive commercial terms of the proposed Joint Venture remain unchanged from those previously announced on 12 May 2022.
Nick von Schirnding, Executive Chairman of Arc Minerals, commented:
"I am very pleased with progress made to date and look forward to updating shareholders in more depth soon."
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
**ENDS**
Contacts
Arc Minerals Ltd Nick von Schirnding (Executive Chairman)
| +44 (0) 20 7917 2942
|
SP Angel (Nominated Adviser & Joint Broker) Ewan Leggat / Adam Cowl
| +44 (0) 20 3470 0470
|
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell
| +44 (0) 20 7220 1666
|