How far can Arc Minerals (ARCM.L) shares rise amid a big deal with Sturec?
Arc Minerals shares posted positive momentum throughout the year. From January, stocks started to rise rapidly. The share price in January was 6.3000 GBP. The following month, shares reached 6.8000 GBP. And in March, they also increased and stood at 7,500 GBP. From April to May, the shares fell to 5,600 GBP. To date, the share price is 40,000 GBP.Arc Minerals has signed an option agreement worth US $ 8 million to sell its Sturec gold project in Slovakia to MetalsTech Limited with the aim of exiting the gold interest. You will receive a non-refundable option fee of AU $ 30,000. Once MetalsTech exercises the option, you will receive a total of AU $ 750,000 in cash and royalties capped at 7 million ounces of gold.
MetalsTech will pay Arc an additional royalty of AUD 2 per ounce of gold. Arc said it will use the proceeds from the sale for exploration and development activities in Zambia and for general working capital purposes. Last week, Arc also revealed its intention to sell its entire 99.43% stake in Casa Mining Limited in the Democratic Republic of the Congo to Century Capital Management Ltd, a Canadian private equity group, for full consideration. up to $ 9.8 million.
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