Arrow Minerals Ltd (ASX:AMD) substantial shareholder GenGold Resource Capital Pty Ltd has increased its shareholding in the company to 14.46% from 7.28%.
The increase is the result of the conversion of 69.68 million performance rights.
Arrow secures $500,000 from Macarthur Minerals
In late December 2019, Arrow secured $250,000 cash and $250,000 in Macarthur Minerals Ltd (ASX:MIO) shares in an access deal.
The agreement allows Macarthur to acquire mineral tenure from Arrow for the development of site infrastructure at Macarthur’s Lake Giles Iron Project.
The deal allows Macarthur to obtain access to tenure to construct a private haul road from its project through to the open access Perth to Kalgoorlie railway.