Arc Minerals Limited NPV (DI) (ARCM)

Sector:

Financials

Index:

FTSE AIM All-Share

5.85p
   
  • Change Today:
      0.35p
  • 52 Week High: 8.15
  • 52 Week Low: 1.93
  • Currency: UK Pounds
  • Shares Issued: 1,104.14m
  • Volume: 6,330,889
  • Market Cap: £64.59m

Arc Minerals agrees royalty deal with Golden Square

By Josh White

Date: Thursday 09 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Arc Minerals has entered into a binding royalty agreement with Golden Square Equity Partners, it announced on Thursday, following the sale of its entire 99.43% interest in Casa Mining to Golden Square for a consideration of up to $50m, as announced on 18 March.
The AIM-traded firm said that under the terms of the royalty agreement, Arc would be entitled to a royalty stream up to an aggregate value of $45m.

It said the royalty stream would be based on the gold production of the projects and interests held by Casa as at 19 March, and was to be calculated as 3% of net smelter production at the prevailing gold price on the production date, and paid by Casa to Arc quarterly in arrears based on the ounces of gold produced.

The royalty agreement of up to $45m was based on potential gold production at the projects and interests held by Casa, Arc explained, adding that there could be "no guarantee" that any royalty payments would flow to Arc, or as to the timing of such payments.

Separately, the first payment by Golden Square to Casa in respect of operating expenses was made this week, the company confirmed.

"It is pleasing to have finalised the $45m royalty agreement with Golden Square, which in addition to the $5m loan note issued to Arc by Golden Square and repayable to Arc on 19 March 2021, should prove valuable going forward," said executive chairman Nick von Schirnding.

"Separately, we have completed a major cost reduction exercise across the board at Arc to ensure we are in the best possible financial shape going forward as we all adapt to the Covid-19 crisis.

"A separate update on this - as well as the work we are completing on the Kalaba Commercial Scale Demonstration plant and drilling programme - will be published shortly."

At 1455 BST, shares in Arc Minerals were down 1.02% at 1.46p.

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ARCM Market Data

Currency UK Pounds
Share Price 5.85p
Change Today 0.35p
% Change 6.36 %
52 Week High 8.15
52 Week Low 1.93
Volume 6,330,889
Shares Issued 1,104.14m
Market Cap £64.59m

ARCM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.09% below the market average42.09% below the market average42.09% below the market average42.09% below the market average42.09% below the market average
54.2% below the sector average54.2% below the sector average54.2% below the sector average54.2% below the sector average54.2% below the sector average
Price Trend
84.43% above the market average84.43% above the market average84.43% above the market average84.43% above the market average84.43% above the market average
79.45% above the sector average79.45% above the sector average79.45% above the sector average79.45% above the sector average79.45% above the sector average
Income Not Available
Growth Not Available

ARCM Dividends

No dividends found

Trades for 14-Jun-2021

Time Volume / Share Price
17:08 299,915 @ 5.85p
16:27 9,551 @ 5.80p
16:05 4,146 @ 5.80p
16:00 8,517 @ 5.80p
15:55 20,000 @ 5.80p

ARCM Key Personnel

Finance Director Rémy Welschinger

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