Last checked at 11 Aug 2020 11:44
11 August 2020
Arc Minerals Ltd
('Arc' or the 'Company')
Sale of Sturec Update
Arc Minerals ("Arc" or the "Company") is pleased to announce that following the announcements made on 19 November 2019, 30 December 2019, 7 February 2020 and 17 February 2020, regarding the sale of its wholly-owned Sturec gold project ("Sturec") in Slovakia to MetalsTech Limited for a gross consideration of up to US$8m, Arc has today received the second tranche of A$300,000 satisfied in cash. The Company has received a total consideration of A$750,000 to date, with the remainder conditional upon the Šturec JORC Indicated and Measured Resource exceeds 1.5 million ounces gold at a grade greater than 2.5g/t within 2 years of the sale of Sturec by Arc.
**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
|
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.