Mrs Ann Gloag, O.B.E., co-founder of Stagecoach Group and previously ranked as Scotland’s richest woman has notified the market that she holds 16.2 million shares in Arc Minerals representing 3% of the company. She stated Mrs. Gloag stated “I was happy to participate in Arc Minerals’ recent share placing in support of the Board’s growth plans including the development of the Zamsort copper cobalt project in Zambia. I have long believed in the regeneration of Africa through investment and commercial development and have supported this through both my charitable and commercial activities. My investment in Arc Minerals is fully aligned with this philosophy. I look forward to progress being reported over the coming months.”

Arc Minerals recently announced that it has increased its stake in Zamsort Ltd to 49% from 14%. John Meyer of SP Angel also notes that management are also in discussion with the Zambian Competition and Consumer Protection Commission in relation to potentially raising its stake to >50%.

He concludes: “Arc has made huge progress in its work to advance the Zamsort project. The team should start production of copper and cobalt hydroxide cake this year starting with a 10,000 t stockpile of screened ore grading 2.08% Cu and 0.29% Co. Further consolidation of Zamsort should be good for Arc and good for the future development of the Zamsort project as a whole.

“It is our view that Ann Gloag should have found a worthy and rewarding cause in its investment in Arc Minerals and the Zamsort project in Zambia.”

Zamsort holds large scale exploration licences for copper-cobalt located in northwest Zambia, 800 km from Lusaka and 200km from Solwezi – Kalaba. Ore in the ground amounts to 16.59 Mt, with a commercial scale demonstration plant under construction

Next step: processing 35,000 t/month of ore per with a grade of 1.00% ASCu and 0.20% ASCo. C1 cash costs estimated at $2,500/t of recovered copper.