https://www.miningweekly.com
Copper|Exploration|PROJECT|Resources|Drilling
Copper|Exploration|PROJECT|Resources|Drilling
copper|exploration|project|resources|drilling

Arc raises £2.2m for Zambia copper project

19th February 2019

By: Creamer Media Reporter

     

Font size: - +

Aim-listed Arc Resources has raised £2.2-million through the placing of 73.6-million units at 3p each.

Proceeds of the placing will be used to fund the continuing exploration and development work on the company's Zamsort copper project, in Zambia, and for general working capital purposes.

Executive chairperson Nick von Schirnding said Arc was approached by two family offices, one of which was already a shareholder for further funding to progress the newly identified targets at the Zamsort copper project, in Zambia.

“This is a very good outcome for us and as a result we will be accelerating work in respect of Cheyeza West and other key targets and will start a comprehensive drilling programme as soon as possible,” said Von Schirnding.

Von Schirnding would acquire 2 333 334 placing units at a price of 3.00p a unit. Upon admission, he would have a beneficial interest representing about 2.26% of the enlarged ordinary share capital of the company.

Nonexecutive directors Don Bailey, Mumena Mushinge and Brian McMaster have also participated in the placing, and so did COO Vassilios Carellas and CFO John Forrest.

 

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.125 0.163s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: