Arc Minerals Limited - Sale of Casa Mining
('Arc' or '
Sale of Casa Mining
The Initial Consideration
The initial consideration for the Transaction payable to the Company will comprise a cash consideration of
The Company will also be entitled to receive cash consideration of
The Transaction is subject to the satisfaction of certain conditions precedent, including the completion of due diligence to the satisfaction of the Purchaser and the obtaining of all necessary regulatory approvals by both the Company and the Purchaser.
Casa is a private company which owns a 73.84% interest in the 3-million-ounce inferred Resource Akyanga gold deposit in the DRC.
The sale of Casa constitutes a substantial transaction under AIM Rule 12. As at
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SP Angel (Nominated Adviser & Broker)
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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
● 100% interest in
● A 66% equity interest in
● A 47.5% equity interest in
● 100% ownership of the Kremnica Mining Licence Area in
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.
This information is provided by RNS, the news service of the
Quick facts: Arc Minerals Limited
Market Cap: £39.12 m
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