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Arc Minerals Limited - Sale of Sturec Update

RNS Number : 8059V
Arc Minerals Limited
11 August 2020
 

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.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 3.6

Market: AIM
Market Cap: £35.3 m
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