Arc Minerals Limited - Royalty Agreement Update
('Arc' or '
Royalty Agreement Update
Under the terms of the Royalty Agreement, Arc shall be entitled to a royalty stream up to an aggregate value of up to
The Royalty Agreement of up to
Separately, the first payment by Golden Square to Casa in respect of operating expenses has been made this week.
Separately, we have completed a major cost reduction exercise across the board at Arc to ensure we are in the best possible financial shape going forward as we all adapt to the Covid-19 crisis. A separate update on this - as well as the work we are completing on the Kalaba Commercial Scale Demonstration plant and drilling programme - will be published shortly."
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SP Angel (Nominated Adviser & Broker)
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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.
Notes to the Editors
● A 66% equity interest in
● A 52.5% equity interest in
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.
This information is provided by RNS, the news service of the
Quick facts: Arc Minerals Limited
Market Cap: £22.24 m
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