12th Oct 2020 20:08
Arc Minerals Ltd - exploring for copper and cobalt in the the Zambian copperbelt - Posts narrowed GBP2.9 million pretax loss for financial year ended March 31 compared to GP6.3 million loss the year before as loss on change of ownership status shrinks to GBP399,000 from GBP2.8 million.
Executive Chair Nick non Schirnding: "In June, we commenced the second season of exploration activities over the Zamsort and Zaco licenses We plan to undertake c 8,000m of diamond core drilling in the coming months. The exploration effort is initially focussed on the Fwiji Target where the company has already defined the target area through previous exploration campaigns. Follow up work is also planned at a number of the other target areas, including Cheyeza East and Muswema."
Current stock price: 4.07 pence
Year-to-date change: up 31%
By Anna Farley; [email protected]
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