Arc Minerals Limited Update on media article (8644O)
13 October 2021 - 5:00PM
UK Regulatory
TIDMARCM
RNS Number : 8644O
Arc Minerals Limited
13 October 2021
13 October 2021
Arc Minerals Ltd
('Arc' or the 'Company')
Update on media article
The Company notes media speculation in a Zambian newspaper in
respect of a debt claim made by Terra Metals and others, including
Mumena Mushinge, a former shareholder of Zamsort Ltd ("Zamsort")
against Zamsort, a subsidiary of the Company, in connection with a
$5.8m capital raise by Zamsort in 2015 (prior to Arc becoming a
shareholder of Zamsort). Arc considers that the case is without any
merit, as originally notified on 10 March 2021.
The Company also notes further recent media speculation in
Zambia that Zamsort and another of Arc's local subsidiaries, Handa
Resources Limited ("Handa"), have been placed into receivership is
incorrect. An ex-parte order was issued on 14 September 2021 which
purports to restrict Zamsort or Handa from disposing of, alienating
or encumbering the mineral tenements known as Kalaba Mine under
small scale mining licence number 8248-HQ-SML* and large scale
mining licence number 19906-HQ-LEL and purports to place these
tenements into receivership. The Company considers the order was
not properly obtained and Arc expects the order to be set aside
imminently.
Arc maintains full control of its subsidiaries and assets in
Zambia and the drilling campaign continues.
*Small scale mining licence number 8248-HQ-SML was converted
into an exploration licence and now forms part of licence number
19906-HQ-LEL.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**ENDS**
For more information visit www.arcminerals.com .
Contacts
Arc Minerals Ltd
Nick von Schirnding (Executive
Chairman) +44 (0) 20 7917 2942
SP Angel (Nominated Adviser
& Joint Broker)
Ewan Leggat / Adam Cowl +44 (0) 20 3470 0470
WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell +44 (0) 20 7220 1666
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.
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 or visit 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.
END
FURFFIFAEEFSEDS
(END) Dow Jones Newswires
October 13, 2021 02:00 ET (06:00 GMT)
Arc Minerals (LSE:ARCM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Arc Minerals (LSE:ARCM)
Historical Stock Chart
From Apr 2023 to Apr 2024