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Arc Minerals Ltd - base metals exploration company focused in Africa - Receives first cash payment of $125,000 towards the $1.5 million receivable from the disposal of its Casa interests. The next $125,000 is due within the next 30 days and the issuance of $1.3 million in listed stock remains due by July 28.
On April 29, Arc Minerals said its 74% interest in Misisi gold project would be bought by Regency Mining Ltd. It added that it would be paid $250,000 within 30 days.
The company says that the initial payments were delayed due to constraints imposed by relevant Canadian exchange regulations.
Current stock price: 3.48 pence, up 8.8% on Friday
12-month change: down 30%
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