Arc Minerals acquired a further 5% stake in Zaco on a shares-only basis, taking its total holdings to 47.5%. Following the discovery of the large West Lunga target, Arc Minerals had purchased a further 5% interest in Zaco from Rémy Welschinger, a Non-Executive Director of Arc, for a total consideration of 1,414,000 shares. The company said it is 'keen to consolidate our interest in Zaco and we are pleased to have increased our interest in Zaco on the same commercial terms as the initial transaction.'
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