Emerald Ex is buying the 18.48% stake with the transaction set to close on 25 February
() has sold its stake in Eritrea-focused copper explorer Andiamo Exploration for US$250,000.
Emerald Ex is buying the 18.48% stake for cash with the transaction set to close on 25 February.
Nick von Schirnding, Arc’s executive chairman said: "The sale of Andiamo represents a step forward in delivering on our strategy of selling non-core assets.
“The proceeds of the transaction will be deployed to our current exploration programme at our Zamsort copper-cobalt project.
“We are also progressing discussions with a number of interested third parties in respect of our other non-core assets."
Arc’s attention is focused on the Zamsort copper deposit in Zambia and gold acreage at Misisi in the DRC.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of Arc Minerals Limited named herein, including the promotion by the Company of Arc Minerals Limited in any Content on the Site, the Company...
FOR OUR FULL DISCLAIMER CLICK HERE