Arc Minerals raises £3m to explore Zone 5 corridor of Kalahari copper belt

Arc Minerals Ltd (AIM:ARCM, OTC:ACMNF) shares fell 12.8% to 0.41p after £3 million was raised through a placing and subscription at a slight discount to fund exploration in Botswana's Kalahari copper belt. Arc said the funds will support an exploration campaign within its licence in the Zone 5 Corridor, including ongoing geophysical work ahead of drilling planned for the second half of the year.