REG - Arc Minerals Limited - Zambia Licence Update and Investor Call

ARC MineralsAnnouncement

05/11/2024 12:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241105:nRSE0220La&default-theme=true

RNS Number : 0220L  Arc Minerals Limited  05 November 2024

5 November 2024, 12:00 UTC

Arc Minerals Ltd

('Arc' or the 'Company')

Zambia Licence Update

Details of Investor Call

 

Arc Minerals (LSE: ARCM), an exploration company forging partnerships to
discover and develop Tier 1 copper deposits, is pleased to confirm that,
further to the announcement of 19 June 2024, it has had confirmation from the
Zambian Ministry of Mines that the large scale mining license application
submitted by Handa Resources Limited has been reinstated.

 

Arc has also had confirmation from the Ministry of Mines that the large scale
mining application that was submitted by Zaco Investment Limited is being
rectified.

 

Nick von Schirnding, Executive Chairman of Arc Minerals, commented:

 

"I am very pleased to report that these matters are being satisfactorily
resolved."

 

Investor Call

Arc announces that an investor call will be held via Zoom at 12:00 UTC on
Thursday, 7 November 2024 which will be presented by Nick von Schirnding
(Executive Chairman) and Vassilios Carellas (Chief Operating Officer).
Investors can join the investor call by using the following link:

 

https://us05web.zoom.us/j/85294720966?pwd=6ebPDm13jUNcyQJdHFaL4pCsBF8zE4.1
(https://us05web.zoom.us/j/85294720966?pwd=6ebPDm13jUNcyQJdHFaL4pCsBF8zE4.1)

 

The Directors of Arc are solely and entirely responsible for the content of
this announcement. Neither Anglo American nor any other person, accepts
responsibility for the adequacy or accuracy of this news release.

For further information contact:

 Arc Minerals
 Ltd

                                                                                                                               c/o Benchmark Communications
 Nick von Schirnding (Executive Chairman)

 Zeus (Nominated Adviser & Joint Broker)                                                                                         Tel: +44 (0) 20 3829 5000

 Katy Mitchell/Harry Ansell

 Shard Capital Partners LLP (Joint Broker)                                                                                       Tel: +44 (0) 20 7186 9952

 Damon Heath

 Benchmark Communications (Investor Relations)                                                                                   Tel: +44 (0) 7841 67 3210

 Richard Kauffer

 

For more information, visit www.arcminerals.com (http://www.arcminerals.com/)
.

 

Forward-looking Statements

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.

Background on the Anglo American Joint Venture

 

Arc Minerals has entered into a Joint Venture Agreement with Anglo American on
its Zambian Copper Project (ZPC) comprising a number of licenses covering
circa 870km(2) ha in the North Western Province, in the Domes region of the
Zambian Copperbelt near world-class mines such as First Quantum Minerals'
Sentinel and Kansanshi copper mines and Barrick's Lumwana mine.

 

The license areas are located approximately 900 km from Lusaka, in Mwinilunga,
North Western Province, and is well within the trending arm of the major
geological structure known as the Lufilian Arc (Copperbelt), on the western
flank of the Kabompo Dome.

 

The Copperbelt is home to all the major copper mines in Zambia and these
licenses represent one of the last dome-related areas in Zambia yet to be
explored in any detail.

 

Under the agreement, Anglo American can an earn-in on the ZCP by making a
number of project expenditures and assume operator ship of the project. The
details of the agreement are set out below:

·      Phase 1 - Anglo will pay $14.5M in staged cash payments to Unico
Minerals Ltd (67% owned by Arc) and invest up to $24m in exploration
expenditures (total $38.5M) within three years and 180 days of the signing of
the Agreement (RNS 20.04.23) to secure a 51% interest in ZCP.

·      Phase 2 - Anglo may elect to increase its interest in the ZCP to
60% by investing a further $20M (total $58.5M) within two years of the
completion of Phase 1.

·      Phase 3 - Anglo may elect to increase its interest in the ZCP to
70% by investing a further $30M (total $88.5M) within two years of the
completion of Phase 2.

 

**ENDS**

 

 

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
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEAFFSEDDLFFA