MetalsTech Limited (ASX:MTC) exercised an option to acquire Sturec gold project from Arc Minerals Limited (AIM:ARCM) for $8 million (AUD 11.9 million) on December 30, 2019. As of February 7, 2020, MetalsTech Limited entered into a binding sale and purchase agreement to acquire Sturec gold project from Arc Minerals Limited. Under the terms of the option agreement, a proposed completion date will not be more than 45 days following the date of the exercise notice. As of February 7, 2020, completion of the transaction shall take place by no later than February 14, 2020.  Ewan Leggat and Soltan Tagiev of SP Angel Corporate Finance LLP acted as financial advisors to Arc Minerals Limited. BDO Corporate Finance (WA) Pty Ltd acted as fairness opinion provider for MetalsTech.

MetalsTech Limited (ASX:MTC) completed the acquisition of Sturec gold project from Arc Minerals Limited (AIM:ARCM) on February 14, 2020. Arc Minerals Limited received the first tranche payment on closing. As of August 11, 2020, Arc Minerals Limited received the second tranche payment of consideration.