Welcome to my latest video covering ARC Minerals. In this video, I look at ARC’s recent RNS flurry along with the large placing and the share price decline. I also consider whether ARC’s share price will recover and whether 2024 will be ARC’s year.
https://youtu.be/jIUvNNTT3fY?si=6UUcZ0w8a4k76hkR
Arc Minerals Limited (AIM: ARC) reported that following its initial announcement at 4.50 p.m. on March 11, 2024 (the “Launch Announcement”), the Bookbuild has successfully concluded. The company has secured approximately £4.14 million in total (before expenses) by placing 209,999,995 Placing Shares and subscribing 19,777,775 Subscription Shares, both at an Issue Price of 1.8 pence. In conjunction with the fundraising, Arc Minerals will also issue 229,777,770 Warrants, on a one-for-one basis for each new Ordinary Share subscribed in the Fundraise, effective post-Admission. The specifics of these Warrants are outlined in the Launch Announcement and further detailed below.
The Placing is contingent upon the conditions mentioned in the Launch Announcement.
Executive Chairman Nick von Schirnding commented, “The strong support from both new and existing investors for this phase of Arc Mineral’s growth is highly encouraging. We eagerly anticipate sharing more updates about our projects in Botswana and Zambia in the upcoming months.”
