Arc Minerals Limited (AIM:ARCM) has received $625,000 from Avanti Gold Corporation, settling an outstanding payment tied to a previous deal with Avanti and Regency Mining.
The funds follow a binding agreement announced in July and bring the matter to a close. Arc said the money will go towards developing its projects and covering day-to-day costs.
The settlement provides a cash boost for the company, which holds copper interests in Zambia's copper belt.