Arc Minerals Limited - Plant update
('Arc' or the 'Company')
The Company is finalising detailed oxide resource tonnages, grades and mining plans in line with the completion of the block modelling of the overall oxide resource.
The block model assessment of the ore body will provide the basis for a review of operational and mining strategy including the cost benefit potential of upgrading the oxide ore feed into the plant aimed at materially reducing consumption of acid and related input costs.
Initial production will incur no mining cost as the plant feed will be drawn down from the existing stockpile of 10,000 tonnes at 2% copper.
The potential to enhance revenue streams through the production of separate copper and cobalt sulphide precipitates is also being investigated.
"In the meantime, we have made major progress regarding our next phase of exploration and our newly identified targets. A more detailed update on this will be made shortly."
+44 (0) 20 7917 2942
SP Angel (Nominated Adviser & Broker)
+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.
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.
Notes to the Editors
· 100% interest in
· A 66% equity interest in
· 100% ownership of the Kremnica Mining Licence Area in
This information is provided by RNS, the news service of the
Quick facts: Arc Minerals Limited
Market Cap: £24.06 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE