1st Jul 2022 10:32
Arc Minerals Ltd - base metals exploration company focused in Africa - Receives first cash payment of USD125,000 towards the USD1.5 million receivable from the disposal of its Casa interests. The next USD125,000 is due within the next 30 days and the issuance of USD1.3 million in listed stock remains due by July 28.
On April 29, Arc Minerals said its 74% interest in Misisi gold project would be bought by Regency Mining Ltd. It added that it would be paid USD250,000 within 30 days.
The company says that the initial payments were delayed due to constraints imposed by relevant Canadian exchange regulations.
Current stock price: 3.48 pence, up 8.8% on Friday
12-month change: down 30%
By Sophie Rose; [email protected]
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