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