https://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Wed, 14 Nov 2018 10:49:25 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Arc Minerals reveals significantly higher grade cobalt results from shallow drilling at Kalaba Cobalt-Copper Project oxide portion ]]> https://www.proactiveinvestors.co.uk/companies/news/209154/arc-minerals-reveals-significantly-higher-grade-cobalt-results-from-shallow-drilling-at-kalaba-cobalt-copper-project-oxide-portion-209154.html Arc Minerals Ltd (LON:ARCM) has announced significantly higher grade cobalt results from shallow drilling of the oxide portion of its Kalaba (Zamsort) Cobalt-Copper Project in Zambia.

The AIM-listed firm - which has a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo as well as Zambia - said the reverse circulation drilling results showed cobalt grades of up to 0.35%, intersected together with copper grades up to 1.50%.

READ: Arc Minerals all set for new airborne geophysical survey at Zamsort

Nick von Schirnding, executive chairman of Arc Minerals said: "These results are very encouraging, in particular the high-grade cobalt mineralisation intersected in this round of drilling.

“These results from the pit areas immediately adjacent to the CSD plant show mineralisation that is near surface and hosted in weathered material that can be mined without the need to drill and blast, which should provide for low strip ratios and correspondingly very low mining costs.”

He added: “As a result of higher than expected Cobalt grades encountered, Kalaba is becoming a cobalt project along with copper and as such work is underway to maximise the cobalt recoveries to ensure that full value is extracted.”

The chairman concluded: “We look forward to further updates soon including further drilling results as well as results from our recently completed Airborne Geophysical programme carried out to highlight further geological structures associated with known zones, potential new zones of mineralisation and to prioritise areas for further drilling from our large-scale Zamsort Copper-Cobalt Project."

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Wed, 14 Nov 2018 07:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209154/arc-minerals-reveals-significantly-higher-grade-cobalt-results-from-shallow-drilling-at-kalaba-cobalt-copper-project-oxide-portion-209154.html
<![CDATA[RNS press release - High Grade Cobalt drill results from shallow oxide ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181114070002_13865815/ Wed, 14 Nov 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181114070002_13865815/ <![CDATA[RNS press release - Michael Foster Options Awards ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181030070011_13846765/ Tue, 30 Oct 2018 07:00:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181030070011_13846765/ <![CDATA[RNS press release - Director Share Purchases - Nick von Schirnding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181024142008_13841079/ Wed, 24 Oct 2018 14:20:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181024142008_13841079/ <![CDATA[RNS press release - Notice of Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181024124502_13840938/ Wed, 24 Oct 2018 12:45:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181024124502_13840938/ <![CDATA[News - Arc Minerals all set for new airborne geophysical survey at Zamsort ]]> https://www.proactiveinvestors.co.uk/companies/news/207630/arc-minerals-all-set-for-new-airborne-geophysical-survey-at-zamsort-207630.html Arc Minerals LTD (LON:ARCM) is shortly to commence a comprehensive high resolution airborne geophysical survey over its Zamsort copper-cobalt project in Zambia.

The survey will cover around 1,000 square kilometres hosting several targets as well as the Kalaba copper-cobalt prospect where Arc is currently conducting an 11,000-metre drilling programme.

READ: Arc Minerals Ltd sees significant upside at Zambian copper asset

It will be conducted over the entire Zamsort license area and comprise 5,218 line-kilometres. Flying will commence this week and is expected to take around two weeks to complete.

"Zamsort has a large license area and this comprehensive high resolution airborne programme will be used to rapidly highlight further geological structures associated with known zones and potentially new zones of mineralisation and to prioritise areas for further drilling and possible joint ventures with other mining companies,” said Arc’s executive chairman Nick von Schirnding.

“The results of the airborne reconnaissance programme, which will be completed for less than US$100,000, will be correlated against Arc's existing soil geochemical data sets, the final parts of which are currently being analysed."

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Tue, 23 Oct 2018 07:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207630/arc-minerals-all-set-for-new-airborne-geophysical-survey-at-zamsort-207630.html
<![CDATA[RNS press release - Arc Initiates Airborne Geophysical Programme ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181023070003_13838178/ Tue, 23 Oct 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181023070003_13838178/ <![CDATA[News - Arc Minerals hits more elevated copper grades at Kalaba ]]> https://www.proactiveinvestors.co.uk/companies/news/207153/arc-minerals-hits-more-elevated-copper-grades-at-kalaba-207153.html Arc Minerals LTD (LON:ARCM) has intersected mineralisation in all holes drilled to date as part of the current 11,000-metre programme at the Kalaba prospect in Zambia.

Kalaba is part of the Zamsort copper-cobalt project which Arc took control of earlier in the year.

WATCH: Arc Minerals confident it could be sitting on 'something quite significant' at Zamsort

The four most recent holes have intersected elevated copper grades ranging from 0.50% to 1%, including 128 metres at 0.74% copper equivalent from the surface.

The company also hit 75 metres at 0.85% copper equivalent from the surface, and 59.5 metres at 0.87% copper equivalent from a depth of 2.8 metres.

"The results of our drilling programme continue to be very encouraging with these further drill results showing elevated copper intersections,” said Arc’s executive chairman Nick von Schirnding.

“The drilling to date demonstrates that at Kalaba the source and migration of the mineralising fluids have been quite extensive and we are now beginning to intersect some of the higher grade 'traps'. Given the activity on the ground as well as a large number of samples that are currently being sent to the lab, we anticipate a strong pipeline of news flow and we look forward to updating shareholders on these developments."

 

 

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Tue, 16 Oct 2018 08:05:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207153/arc-minerals-hits-more-elevated-copper-grades-at-kalaba-207153.html
<![CDATA[RNS press release - Arc Reports Elevated Copper Intersections ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181016070008_13829636/ Tue, 16 Oct 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181016070008_13829636/ <![CDATA[Media files - Arc Minerals confident it could be sitting on 'something quite significant' at Zamsort ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10767/arc-minerals-confident-it-could-be-sitting-on-something-quite-significant-at-zamsort-10767.html Mon, 08 Oct 2018 12:17:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10767/arc-minerals-confident-it-could-be-sitting-on-something-quite-significant-at-zamsort-10767.html <![CDATA[News - Arc Minerals eyes sizeable deposit at Zamsort as drilling hits consistent copper ]]> https://www.proactiveinvestors.co.uk/companies/news/206564/arc-minerals-eyes-sizeable-deposit-at-zamsort-as-drilling-hits-consistent-copper-206564.html Arc Minerals Limited’s (LON:ARCM) recent drilling at its Zamsort project has hit wide zones of copper and cobalt similar to other large deposits in Zambia.

The junior is drilling 11,000m at the Kalaba target at Zamsort and all 46 holes so far have hit metal, it said, with thicknesses up to 144m and an average between 60m to 80m.

Surface indications point to a 5km system extending over a strike of 2km, added the company.

Grades were also higher in this set of results at 1.3% copper and 0.19% cobalt with continuous cobalt dissemination.

Nick von Schirnding, executive chairman, said the dimensions so far has exceeded all initial internal expectations and bore the hallmarks of a typical large deposit in the Domes region in north-west Zambia.

Arc Minerals has three drill rigs running at Zamsort currently, with a pilot processing plant on schedule to be commissioned by the fourth quarter.

Arc has a 66% interest in Zamsort.

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Mon, 08 Oct 2018 08:11:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206564/arc-minerals-eyes-sizeable-deposit-at-zamsort-as-drilling-hits-consistent-copper-206564.html
<![CDATA[RNS press release - Arc Reports Significant Drill Results from Zamsort ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181008070004_13819204/ Mon, 08 Oct 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181008070004_13819204/ <![CDATA[News - Arc Minerals raises £2mln at a premium to fund further exploration at Kalaba ]]> https://www.proactiveinvestors.co.uk/companies/news/206053/arc-minerals-raises-2mln-at-a-premium-to-fund-further-exploration-at-kalaba-206053.html Arc Minerals Limited (LON:ARCM) has raised £2mln (US$2.6mln) at a premium to fund exploration and development work at its Kalaba copper-cobalt project in Zambia.

The company, formerly known as Ortac, issued 44.5mln new shares at 4.5p apiece, with each share also coming with a warrant which can be exercised at any point over the next three years for 6.5p.

The 4.5p price is 12.5% higher than Friday’s closing price of 4p.

READ: Arc intersects extensive copper-cobalt mineralisation at Kalaba

“We were approached by a European Family Office and a South Africa-based institution to provide further funding for our exciting Zambia exploration programme,” said executive chairman Nick von Schirnding.

“Raising funds at a premium to the share price underscores the quality of our Zamsort copper and cobalt asset and I am also pleased that the majority of the board and management participated in the raise.”

In recent drilling at Kalaba, Arc intersected extensive copper and cobalt mineralisation, including 20 metres at 1.31% copper equivalent, 25m at 1.24% copper equivalent, and 26 metres at 1.10% copper equivalent.

von Schirnding said results from a further 19 holes will be announced shortly.

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Mon, 01 Oct 2018 07:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206053/arc-minerals-raises-2mln-at-a-premium-to-fund-further-exploration-at-kalaba-206053.html
<![CDATA[RNS press release - £2 Million Equity Fundraising ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181001070006_13810119/ Mon, 01 Oct 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20181001070006_13810119/ <![CDATA[Media files - Arc Minerals reports strong results from early drilling at Kalaba in Zambia ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10436/arc-minerals-reports-strong-results-from-early-drilling-at-kalaba-in-zambia-10436.html Tue, 11 Sep 2018 12:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10436/arc-minerals-reports-strong-results-from-early-drilling-at-kalaba-in-zambia-10436.html <![CDATA[News - Arc Minerals intersects extensive copper-cobalt mineralisation in exploration at Kalaba ]]> https://www.proactiveinvestors.co.uk/companies/news/204601/arc-minerals-intersects-extensive-copper-cobalt-mineralisation-in-exploration-at-kalaba-204601.html Arc Minerals LTD (LON:ARC) has intersected extensive copper and cobalt mineralisation in drilling at the Kalaba prospect in Zambia, part of the larger Zamsort project.

All four of the reverse circulation holes drilled intersected copper and cobalt mineralisation.

READ: Arc Minerals Ltd sees significant upside at Zambian copper asset

Among the highlights were 20 metres at 1.31% copper equivalent, 25m at 1.24% copper equivalent, and 26 metres at 1.10% copper equivalent.

In addition, 19 diamond drill holes have been completed with initial assays expected shortly.  

"I am very pleased with these excellent initial assay results of the drilling programme,” said executive chairman Nick von Schirnding.

“These early results from RC drilling clearly demonstrate the large tonnage and commercial grade potential of the Kalaba prospect. The results from these first four RC holes present encouraging copper and cobalt mineralisation with intercepts starting from surface. Our updated geological model is indicating that the potential resource at Kalaba may be significantly larger than we had anticipated.”

‘House’ broker SPAngel reiterated a ‘strong buy’ on Arc Minerals, having upgraded their rating from ‘buy’ on August 14.

In their note today, the broker’s analysts’ said: “These are very encouraging results indicating a significantly larger cobalt/copper mine at Kalaba than previously envisaged.

“We look forward to being able to estimate a significantly larger tonnage of mineralised material from the next set of assay results in the short term.”

 -- Adds analyst comment --

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Tue, 11 Sep 2018 07:58:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204601/arc-minerals-intersects-extensive-copper-cobalt-mineralisation-in-exploration-at-kalaba-204601.html
<![CDATA[RNS press release - Intersects extensive copper cobalt mineralisation ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180911070018_13785563/ Tue, 11 Sep 2018 07:00:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180911070018_13785563/ <![CDATA[RNS press release - Directors' Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180820182001_13761975/ Mon, 20 Aug 2018 18:20:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180820182001_13761975/ <![CDATA[News - Arc Minerals posts profit as focus shifts to Africa ]]> https://www.proactiveinvestors.co.uk/companies/news/203203/arc-minerals-posts-profit-as-focus-shifts-to-africa-203203.html Arc Minerals Limited (LON:ARCM) posted a profit in its latest full year, benefiting from its shift of emphasis to Africa.

The junior is now concentrating all its attention on the Zamsort copper and Misisi gold deposits in Zambia and the DRC respectively.

READ: Arc Minerals Ltd sees significant upside at Zambia n copper asset

Total assets increased by 72% to £27.4mln (£15.9mln) in the year to March, while Arc posted a £2mln profit as it booked a £10.5mln gain on the acquisition of 99.4% of Casa Mining, which owns Misisi.

Arc also now owns 66% of Zamsort following a share exchange after the year-end.

The group’s Sturec gold assets in Slovakia have been reclassified as held for sale assets and their carrying value written down by 50% to £6.7mln.

Talks are underway to sell Sturec said Arc, while a non-binding agreement has been reached with AMED Funds for the sale of its interest in Andiamo for US$532,000.

Akyanga, one of the deposits at Misisi, is now of sufficient size to attract a third-party partner believes Arc.

A recent drill campaign doubled the resource to 3 mln ounces of gold at a grade of 2.16 g/t.

Drilling has now shifted to Kalaba at Zamsort.

A demonstration plant is scheduled to be in operation by the end of the year followed by a maiden resource after completion of an 11,000m programme.

 

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Mon, 20 Aug 2018 07:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203203/arc-minerals-posts-profit-as-focus-shifts-to-africa-203203.html
<![CDATA[RNS press release - 2018 Annual Report and Financial Statements ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180820070738_13760583/ Mon, 20 Aug 2018 07:07:38 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180820070738_13760583/ <![CDATA[News - Arc Minerals excites investors as it updates on Kalaba exploration ]]> https://www.proactiveinvestors.co.uk/companies/news/202857/arc-minerals-excites-investors-as-it-updates-on-kalaba-exploration-202857.html Arc Minerals Ltd (LON:ARCM) shares advanced as it revealed the findings of a drill programme on the Kalaba prospect, part of the Zamsort copper-cobalt project.

The company said the programme is progressing well, with ten drill holes to date completed for a total of 1,435 metres.

WATCH: Arc Minerals ups stake in Zamsort, kicks off new drilling

First results are expected over the next few weeks, though the company said that three holes had intersected visible mineralisation for more than 80 meters - in one of those holes, the mineralisation started six metres from surface.

"I am very pleased with the progress of the drilling programme to date,” said Nick von Schirnding, executive chairman.

“A number of holes have intersected pervasive mineralisation with visible copper and cobalt over thicknesses of 80m which is particularly exciting. 

“I look forward to updating on the progress of the initial assay results as well as the RC drilling programme which will commence imminently."

Arc told investors that it is currently working on the logging, core cutting as well as sample preparation and sending the samples to the laboratory for multi-element testing.

In London, Arc shares gained 0.51p or 12.18% changing hands at 4.74p.

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Tue, 14 Aug 2018 13:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202857/arc-minerals-excites-investors-as-it-updates-on-kalaba-exploration-202857.html
<![CDATA[RNS press release - Kalaba Drilling Programme Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180814122653_13754972/ Tue, 14 Aug 2018 12:26:53 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180814122653_13754972/ <![CDATA[News - Arc Minerals reports visible copper and cobalt indications at Kabala in Zambia ]]> https://www.proactiveinvestors.co.uk/companies/news/201984/arc-minerals-reports-visible-copper-and-cobalt-indications-at-kabala-in-zambia-201984.html Arc Minerals Limited (LON:ARCM) has noted visible signs of copper and cobalt from early-stage drilling at Kabala in Zambia.

Kalaba is part of the company’s Zamsort project. Arc is drilling to produce both ores for a pilot plant and a maiden resource estimate for the deposit. Five holes have been drilled so far using two diamond drill rigs. A third rig is expected to start drilling within the next two weeks.

Nick von Schirnding, Arc’s executive chairman, said the programme was going well, albeit at an early stage, while it is also trialling ground penetrating radar as a potential way to hone drill targets in future.

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Wed, 01 Aug 2018 07:39:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201984/arc-minerals-reports-visible-copper-and-cobalt-indications-at-kabala-in-zambia-201984.html
<![CDATA[RNS press release - Kalaba Drilling Programme Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180801070004_13738766/ Wed, 01 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180801070004_13738766/ <![CDATA[Media files - Arc Minerals ups stake in Zamsort, kicks off new drilling programme ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9833/arc-minerals-ups-stake-in-zamsort-kicks-off-new-drilling-programme-9833.html Thu, 12 Jul 2018 11:36:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9833/arc-minerals-ups-stake-in-zamsort-kicks-off-new-drilling-programme-9833.html <![CDATA[News - Arc Minerals begins drilling programme at Zamsort project as it ups stake ]]> https://www.proactiveinvestors.co.uk/companies/news/200550/arc-minerals-begins-drilling-programme-at-zamsort-project-as-it-ups-stake-200550.html Arc Minerals Limited (LON:ARCM) said it has commenced drilling at the Zamsort Copper Cobalt project in Zambia, while also upping its stake in the project by 5%.

The AIM-listed mine developer said the 11,000m drilling programme would consist of 6,600m diamond drill and 4,400m RC drilling which is aiming to delineate a shallow oxide resource for a commercial scale demonstration plant currently being optimised, as well as to establish a maiden resource estimate at the Kalaba Copper Cobalt area, where the Zamsort project is located.

WATCH: Arc Minerals ups stake in Zamsort, kicks off new drilling programme

Arc added that it had also acquired a further 5% stake in Zamsort in a share exchange that would increase its holding in the company to 66%, with Kopara Investments the only other shareholder with 34%.

Following on from this, the firm said it had agreed with Kopara to fund all future expenditure at Zamsort on a pro-rata basis based on their shareholdings.

Nick von Schirnding, executive chairman of Arc Minerals, said: "This is a yet another step forward in consolidating our ownership in Zamsort and to increase Arc's exposure to this large and exciting copper-cobalt asset. I am also pleased to note that we have agreed a funding structure with our joint venture partners.”

In early afternoon trading Wednesday, Arc Minerals shares were up 1.7% 4.3p.

-- Adds share price --

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Wed, 11 Jul 2018 07:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200550/arc-minerals-begins-drilling-programme-at-zamsort-project-as-it-ups-stake-200550.html
<![CDATA[RNS press release - Start of Drilling; increase of Zamsort ownership ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180711070004_13713015/ Wed, 11 Jul 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180711070004_13713015/ <![CDATA[RNS press release - Arc Minerals Investor Seminar - Revised Time ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180709150002_13710908/ Mon, 09 Jul 2018 15:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180709150002_13710908/ <![CDATA[RNS press release - Arc to Present at Zambia Mining Conference ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180709070005_13709621/ Mon, 09 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180709070005_13709621/ <![CDATA[RNS press release - Arc Minerals Investor Presentation Evening ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180703070011_13702754/ Tue, 03 Jul 2018 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180703070011_13702754/ <![CDATA[Media files - Updated resource at Akyanga a 'game-changer' for Arc Minerals Limited ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9729/updated-resource-at-akyanga-a-game-changer-for-arc-minerals-limited-9729.html Thu, 28 Jun 2018 11:53:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9729/updated-resource-at-akyanga-a-game-changer-for-arc-minerals-limited-9729.html <![CDATA[News - Arc Minerals reports 3mln ounce gold mineral resource at Akyanga deposit ]]> https://www.proactiveinvestors.co.uk/companies/news/199757/arc-minerals-reports-3mln-ounce-gold-mineral-resource-at-akyanga-deposit-199757.html Arc Minerals Limited (LON:ARCM) has reported 3mln ounce gold mineral resource at the Akyanga Deposit, part of its Casa project, located in the eastern part of the Democratic Republic of Congo.

The AIM-listed miner said 3mln ounces of gold averaging 2.16grams per tonnes were reported at Akyanga deposit.

READ: Arc Minerals sells holding in Andiamo Exploration to AMED Funds

The company said that near-term exploration target of a further 200,000 to 600,000 ounces of gold in the Akyanga east area has been set, together with further exploration targets along the 55km gold belt within its 133km² mining licence.

Nick von Schirnding, ARC's executive chairman, commented: "The increase in Akyanga's JORC mineral resource from 1.6m ozs to 3m ozs is a game-changer for us and has exceeded our most optimistic expectations.”

He added: “The increased ounces and grade has the potential to significantly enhance the economics of developing the mine. We shall now commence with a scoping study, targeting a 150koz-200koz per annum low cost gold operation, to be completed by year end.”

“Our ability to upgrade this significant, near-surface gold deposit in such a short timeframe clearly demonstrates the largely untapped potential of both the Akyanga project and the 55km long gold belt within our 133km2 mining license area,” Nick von Schirnding said.

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Thu, 28 Jun 2018 08:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/199757/arc-minerals-reports-3mln-ounce-gold-mineral-resource-at-akyanga-deposit-199757.html
<![CDATA[RNS press release - Akyanga Resource Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180628070006_13696546/ Thu, 28 Jun 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180628070006_13696546/ <![CDATA[News - Arc Minerals sells holding in Andiamo Exploration to AMED Funds ]]> https://www.proactiveinvestors.co.uk/companies/news/199597/arc-minerals-sells-holding-in-andiamo-exploration-to-amed-funds-199597.html Arc Minerals Limited (LON:ARCM) has sold its 18.48% shareholding in Andiamo Exploration Limited to AMED Funds, an African focused mining private equity group.

The AIM-listed miner said it had sold the stake for US$532,000 in cash, with executive chairman Nick von Schirnding saying the sale represented a “major step forward” in delivering the firm’s strategy of selling non-core assets.

READ: Arc Minerals increases interest in Zamsort to 61% and appoints new drilling contractor

The news follows an announcement earlier in June when Arc said it had increased its ownership of Zamsort Limited to 61% following the acquisition of an additional 6% interest from two separate shareholders of Zamsort.

In early afternoon trading Tuesday, Arc Minerals shares were up 2.7% at 3.7p.

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Tue, 26 Jun 2018 13:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/199597/arc-minerals-sells-holding-in-andiamo-exploration-to-amed-funds-199597.html
<![CDATA[RNS press release - Sale of Non-Core Asset ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180626132918_13694259/ Tue, 26 Jun 2018 13:29:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180626132918_13694259/ <![CDATA[News - Arc Minerals increases interest in Zamsort to 61% and appoints new drilling contractor ]]> https://www.proactiveinvestors.co.uk/companies/news/198999/arc-minerals-increases-interest-in-zamsort-to-61-and-appoints-new-drilling-contractor-198999.html Arc Minerals Ltd (LON:ARCM) has increased its ownership of Zamsort Limited to 61%, following the acquisition of an additional 6% interest from two separate shareholders of Zamsort and appointed a new drilling contractor.

The AIM-listed firm said it will issue 12mln new ordinary shares of no par value in the company to the vendors for the acquisition of the additional 6% interest in Zamsort. These shares are subject to a hard lock-in period of 12 months.

READ: Arc Minerals boosts Zamsort stake to 55%

Arc Minerals said the vendors shall be issued with a warrant over a total of 2.5mln new ordinary shares of no par value of the company with an exercise price of 6 pence per ordinary share.

This represents an approximate 40% premium over the closing mid-market price of 4.2 pence per Ordinary Share on 15 June 2018.  The Share Warrant is exercisable from 18 June 2018 and expires on 18 June 2020. 

In addition, Arc Minerals also holds a convertible loan note in Zamsort which is convertible into an additional 5.34% interest in the share capital of Zamsort.

Arc Minerals has also appointed a highly experienced Zambian based drilling contractor with significant experience in the Zambian Copperbelt. The first of three drill rigs is due to arrive on site this week and the remaining two drill rigs are expected to arrive shortly after.

Nick von Schirnding, executive chairman of Arc, said: “A comprehensive drilling programme at Zamsort is due to begin imminently and we are extremely excited at the prospect of unlocking the significant value which we believe to be inherent within this highly sought after Zambian copper-cobalt asset.”

 

 

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Mon, 18 Jun 2018 07:36:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198999/arc-minerals-increases-interest-in-zamsort-to-61-and-appoints-new-drilling-contractor-198999.html
<![CDATA[RNS press release - Increase of interest in Zamsort to 61% ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180618070004_13682611/ Mon, 18 Jun 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180618070004_13682611/ <![CDATA[RNS press release - Don Bailey Options Awards ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180613070008_13677218/ Wed, 13 Jun 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180613070008_13677218/ <![CDATA[RNS press release - TR-1 Notification: Mrs Ann Gloag ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180611140004_13674887/ Mon, 11 Jun 2018 14:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180611140004_13674887/ <![CDATA[Media files - ARC Minerals takes controlling stake of Zamsort Limited ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9448/arc-minerals-takes-controlling-stake-of-zamsort-limited-9448.html Tue, 05 Jun 2018 10:38:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9448/arc-minerals-takes-controlling-stake-of-zamsort-limited-9448.html <![CDATA[News - Arc Minerals boosts Zamsort stake to 55% ]]> https://www.proactiveinvestors.co.uk/companies/news/198243/arc-minerals-boosts-zamsort-stake-to-55-198243.html Arc Minerals Ltd (LON:ARCM) has increased its ownership of Zamsort Limited, following the acquisition of a 6% interest from Terra Metals Limited.

Zamsort is developing the Kalaba copper-cobalt project in north-west Zambia, which is just a few months away from initial production. 

WATCH: ARC Minerals takes controlling stake of Zamsort Limited

The acquisition of the additional 6% stake in Zamsort is on the same commercial terms as Arc’s acquisition of a 35% stake in a deal announced on 15 May 2018.

The company will issue 17.5mln shares to complete the acquisition. These shares are also subject to a hard lock-in period of 12 months. 

In addition, Arc holds a convertible loan note in Zamsort which is convertible into an additional 5.34% interest in the share capital of Zamsort.

"This is a critical step forward in consolidating our ownership in Zamsort and to increase Arc's exposure to this large and exciting copper-cobalt asset,” said Arc’s executive chairman Nick von Schirnding.

“Today's announcement is a clear demonstration that we are delivering rapidly on our stated strategy of developing two highly attractive projects of scale in Africa. We are very close to commencing the planned drill programme at Zamsort and look forward to a period of strong newsflow for shareholders - both from Zamsort and Casa."

 

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Tue, 05 Jun 2018 07:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198243/arc-minerals-boosts-zamsort-stake-to-55-198243.html
<![CDATA[RNS press release - Arc Minerals increases Zamsort ownership to 55% ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180605070007_13666568/ Tue, 05 Jun 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180605070007_13666568/ <![CDATA[News - Arc Minerals shares jump as it appoints former Rio Tinto mining boss as new director ]]> https://www.proactiveinvestors.co.uk/companies/news/198002/arc-minerals-shares-jump-as-it-appoints-former-rio-tinto-mining-boss-as-new-director-198002.html Arc Minerals Ltd (LON:ARCM) shares rose on Thursday morning as the firm announced the appointment of former Rio Tinto PLC (LON:RIO) mining boss Don Bailey as its new director effective from 1 June 2018.

The AIM-listed firm said his primary responsibility will be to lead the development of Zamsort’s commercial-scale demonstration plant processing copper and cobalt as well as to help drive strategy with regard to developing Zamsort into a world-class copper/cobalt opportunity.

READ: Scottish billionaire buys into Arc Minerals, following Zamsort deal

Arc Minerals said Don Bailey, a former head of mining operations for Rio Tinto in Africa, South America and Europe, spent 30 years with Rio Tinto where he was responsible for the development of numerous major international projects and was a director of a number of Rio Tinto international companies.

Nick von Schirnding, executive chairman of the company, commented: “Since late last year I have been working closely with Don and I have been greatly impressed by his drive and energy.”

 He added: “I am delighted to strengthen our team with Don's arrival and look forward to reporting back to shareholders with further progress going forward."

In morning trading, Arc Minerals shares rose 8.8% to 3.70p.

 

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Thu, 31 May 2018 09:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198002/arc-minerals-shares-jump-as-it-appoints-former-rio-tinto-mining-boss-as-new-director-198002.html
<![CDATA[RNS press release - Appointment of New Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180531070007_13660751/ Thu, 31 May 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180531070007_13660751/ <![CDATA[RNS press release - Directors' Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180523070011_13651317/ Wed, 23 May 2018 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180523070011_13651317/ <![CDATA[News - Scottish billionaire buys into Arc Minerals, following Zamsort deal ]]> https://www.proactiveinvestors.co.uk/companies/news/197434/scottish-billionaire-buys-into-arc-minerals-following-zamsort-deal-197434.html Ann Gloag, co-founder of Stagecoach Group and the richest woman in Scotland has bought a 3% stake in Arc Minerals Ltd (LON:ARCM).

Gloag bought the shares in the recent placing, which allowed Arc to boost its stake in the Zamsort copper-cobalt asset in Zambia to 49%.

Read: Arc Minerals moves to within six months of copper-cobalt production as it takes control of Zamsort

“I was happy to participate in Arc Minerals’ recent share placing in support of the board’s growth plans including the development of the Zamsort Copper Cobalt project in Zambia,” she said. 

“I have long believed in the regeneration of Africa through investment and commercial development and have supported this through both my charitable and commercial activities. My investment in Arc Minerals is fully aligned with this philosophy.”

Nick von Schirnding, Arc's executive chairman commented: “I welcome Ann Gloag as a major shareholder in Arc. We are at a very exciting juncture and am confident that as we deliver on our strategy we will generate significant value for all our stakeholders.”

By mid-morning trading, Arc Minerals' shares had jumped 12.7% higher to 3.1p.

 -- Adds share price --

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Tue, 22 May 2018 08:15:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/197434/scottish-billionaire-buys-into-arc-minerals-following-zamsort-deal-197434.html
<![CDATA[RNS press release - Notification of Major Shareholding-Mrs. Ann Gloag ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180522070011_13649630/ Tue, 22 May 2018 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180522070011_13649630/ <![CDATA[RNS press release - Directors' Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180518070005_13646126/ Fri, 18 May 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180518070005_13646126/ <![CDATA[RNS press release - Grant of Warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180516171618_13644156/ Wed, 16 May 2018 17:16:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3739/LSE20180516171618_13644156/ <![CDATA[Media files - Arc Minerals takes control of Zamsort in 'game-changing' deal ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9292/arc-minerals-takes-control-of-zamsort-in-game-changing-deal-9292.html Tue, 15 May 2018 09:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9292/arc-minerals-takes-control-of-zamsort-in-game-changing-deal-9292.html