Arc Minerals (LSE:ARCM) has started a ground-based geophysical survey across its PL135/2017 licence at the Virgo Project, located within Botswana’s Kalahari Copper Belt. The campaign combines magnetic and Induced Polarisation (IP) methods to map as much as 15 kilometres of the contact between the D’kar and Ngwako Pan formations, a geological boundary known to host significant copper deposits in the region.
The new work builds on a successful IP programme carried out in 2024. The current phase will include approximately 295 line kilometres of magnetic surveying, followed by 52.5 kilometres of IP work. By improving its geological understanding and identifying conductive structures associated with mineralisation, Arc Minerals aims to refine exploration targets and define higher-priority areas for drilling.
Advancing the survey could help the company strengthen its position within the Kalahari Copper Belt, a region gaining attention as a potential future source of global copper supply.
From a financial perspective, the company’s outlook remains constrained by the typical profile of early-stage explorers, including no revenue, ongoing losses and negative operating and free cash flow. However, Arc maintains a relatively low-debt balance sheet. Market technicals offer some support, with the share price trading above the 20- and 50-day moving averages and a positive MACD signal indicating short-term momentum. Valuation metrics remain difficult to interpret due to negative earnings and the absence of dividend yield data.
More about ARC Minerals
Arc Minerals Ltd is a London-listed exploration company focused on identifying and developing large-scale copper deposits. Its portfolio includes the Virgo Project in Botswana’s Kalahari Copper Belt, where exploration targets copper and silver mineralisation along the highly prospective Central Structural Corridor.
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