Arc Minerals Ltd
("Arc" or the "Company")
Suspension
The Company notes the publication today from the Mining Cadastre in Zambia detailing the results of the 80th Mining Licence Committee and the rejection of mining licence application 33404-HQ-LML submitted by Handa Resources Limited (the "Licence"). The Directors anticipate that this is due to premature processing of the application. The Company has not yet received any formal notification of this decision and has engaged with the Mining Cadastre for a full explanation.
The Company also confirms that its interests in all its exploration licences in Zambia remain valid and all exploration activities remain unaffected by this decision.
The Company has requested a temporary suspension in the trading of the Company's shares on AIM, pending full clarification of the matter.
Further updates will be provided in due course.
For further information contact:
|
Arc Minerals Nick von Schirnding (Executive Chairman) |
c/o Benchmark Communications |
|
WH Ireland (Nominated Adviser & Joint Broker) Harry Ansell/ Katy Mitchell |
Tel: +44 (0) 20 7220 1666 |
|
Shard Capital (Joint Broker) Damon Heath |
Tel: +44 (0) 20 7186 9952 |
|
Benchmark Communications (Investor Relations) Richard Kauffer |
Tel: +44 (0) 7841 67 3210 |
For more information, visit www.arcminerals.com.