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Reassuring to know who the big seller was, but interesting that this RNS indicates that the company hasn't actually been notified by AB regarding his holdings. It's a pity that there are no consequences or penalties on LSE for failing to notify when required.
I would like to see them do a deal with someone for great prospective assets in the battery space or even uranium (there's very little uranium exposure available in London - seems like POW is the only exploration prospect, or Yellowcake if you want a warehousing operation.) Or a small, commercial deposit to take into production to produce cash.
I would especially support reversing a top quality asset into Arkle, a big raise for c.10-20m (with a plan to invest it all into either building a mine for a proven resource, or exploration drilling) and we get going. I see Stonepark going nowhere fast given G11's/Glencore's focus on G11's 100% owned assets rather than Stonepark.
John Teeling needs to do something dramatic here to put a rocket under this, because gold and lithium in Ireland are not going to set the world on fire for Arkle.
Better to own a much smaller slice of a mouthwatering pie than a bigger slice of a decaying, stagnating pie casing!
I suspect the 'big trades' were bed and isas, similar types of crossed trades occurred at BOD today too.
I agree that this will need G11/Glencore/Stonepark action to get things moving but all seems to be quiet for the moment.
At least I can't imagine they need to raise much if any cash in the foreseeable future, hopefully not at these levels anyway - £1m mcap! there are shellcos valued at more than this.
I do not understand where the available shares have come from for this to have been falling whilst large amounts are bought? It seems to me that perhaps one of the bigger holders must be offloading, bit failing to inform the market. My money is on the mysterious tr1 Mr Bachelor having jumped in for a trade, got bored and unloading. I can't see PJ selling here at these prices given what he paid for his holding, and his understanding of the strategic value of Arkle's share of Stonepark. Couldn't resist a small purchase myself, although I am in the dark about what progress can be made with minority holdings of Irish assets. I doubt Glencore will open the chequebook until they know what G11 have on their licences. There's not much reason for them to do that at this stage. It's starting to seem more like a cash shell than a mining company, but with a 1m market valuation, I don't see much downside here.
Some big trades today.....
Still no sign of life here. At least they are not posting mindless chunks from the (outdated) company presentation about how attractive gold is, especially when we don't have any! lol
Can't imagine, looking at the last set of accounts and our financial commitment to Stonepark drilling, that we are currently awash with cash atm. Maybe that is why nobody responds from the company....they are all on unpaid secondment!
Can someone give Teeling a nudge and tell him the share price is drifting down to zero with his inactivity and evident lack of progress on ANY project. What a (sick) joke this chap is.....
No sign of life here.....
(indicating lack of any progress?) is killing the share price. Mcap now just £1.48M! Teeling just has no interest or respect for shareholders imo. He could do a podcast and let us know what is happening on our various projects? Gold at Mine River & Inishowen, lithium at Mine River, zinc at Stonepark, lithium in Zimbabwe? There must be something to say surely. He could start with reassurance that we haven't/aren't about to run out of money! Imagine another Placing at, say, 0.25p!
We're obviously still planning to produce gold (just asked Teeling to confirm latest plans)
https://twitter.com/ArkleResources?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
'Gold Price
Swiss Investment Bank UBS have set out their case on why the gold price will rise
They expect gold to reach $2,100 per ounce by the end of the year and $2,200 by March 2024'
This is all interesting but what has this got to do with ARK? Are we planning to produce gold at Inishowen and/or Mine River? Really? Don't think so! (at least someone is in the Office!)
I've asked for an update....no response!
31 Jan 2023 RNS: 'Permits have been applied for to drill the prospective Carrickittle West deep hole. Once granted, Group Eleven will commence drilling when the ongoing drill programme is completed on their own ground.'
This is just becoming a joke! No one responds to emails at the Company and Teeling just seems to ignore shareholders. Does he even remember that we have these licences? 'Substantial body of knowledge relating to lithium'? Don't make me laugh!!
29 Sept 2022 RNS: 'On our board and in the wider shareholder group there is a substantial body of knowledge relating to lithium. We made a tentative entrance into this area with the acquisition of three small areas in Zimbabwe, one of the largest lithium producers in the world. We continue to evaluate other opportunities.'
23 June 2022 RNS: 'Grant of Three Licences in Zimbabwe with Potential for Lithium'
Has had a bid of $23BILLION for a Canadian company rejected. ARK has a mcap of (just) £1.48MILLION which includes our minority share of our 'jewel in the crown' (Teeling's words!) at Stonepark, a couple of 100% owned gold prospects at Inishowen & Mine River, the discovery of lithium (Li2O) bearing pegmatites, also at Mine River, & 3 lithium licences in Zimbabwe. If we were as attractive as Teeling makes out why haven't G11/Glencore just bought the whole company for petty cash? Maybe Teeling wants a big 'retirement' pay off and G11/Glencore are just happy to wait until ARK runs out of cash? Not looking good here atm....
I wonder what Andrew Batchelor with his 25M shareholding makes of the current situation?!
You only have to look at the front page of the company website ('Our Vision' etc) to see why the share price is on its ar*e. No mention of 'exciting' lithium and the page was last updated on 19 June 2019!!!
Does this company have any PR (apart from the revolving extracts from an old Presentation on twitter)? There is just nothing to get (potential) investors excited/interested here atm. Surely Teeling should move aside and let someone more dynamic take the reins and generate some shareholder interest/value here. Everyone is talking about lithium and we might have some in a couple of places but.......zilch!
Has Teeling forgotten how excited he was back in January? Near future? 2023? Have we run out of money? Another raise to pay for this and further exploration at Stonepark? What is happening to our 3 lithium licences in Zimbabwe? Remember the RNS back on 22 June 2022?
HELLO, IS ANYONE WORKING AT THE COMPANY?
RNS 12 Jan 23: John Teeling, Chairman of Arkle, commented: "These are exciting results. We have discovered lithium on our licences. We found the rock type needed, pegmatites, and in the pegmatites found lithium and other indicator minerals. This opens compelling new opportunities for our Mine River Block. Prospecting will resume in the near future".
Sinking (mcap £1.58M!) and still no word from Teeling. Awful.....
That made me chuckle, as if Teeling has any interest in his shareholders! The old man should have been put out to pasture years ago to give the company a chance of making some progress in monitising our assets. My biggest fear is that G11 just play the long game with the exploration of Stonepark and we run out of money. We don't have anything else close to making money...
Mr Teeling, is there really nothing to report to the shareholders???
yes i agree get drill results then decide makes sense both parties.
i note g11 have just increased the $1m placing to $1.5
I think drilling makes it even more unlikely that a transaction will take place before those results - why would Arkle want to sell before they potentially have resource-enhancing results to increase the value, and why would anyone want to buy before obtaining greater clarity on the quality of the asset they are buying? Once that final Stonepark drilling is done and results known, I imagine Glencore will then be quickly to this particular party (assuming that they intend to join this party at all.)
Hi. I said a very long shot coz $1m buys naught these days. mr. T hinted looking to sell so that just got me thinking.
As regards Carrickittle West g11 are still looking to drill it this year. It’s still an absolutely key target for them n ARK
Auc, why would they buy part of Arkle's share?? If this is worth at least the 11m Glencore offered for it years ago, then it would not even get Arkle's share below 20% G11 are explorers with a massive project in Ballywire to explore, I would be willing to be you £100 donation to a UK charity of your choice that G11 will not be buying out Arkle's Stonepark share with this money raised. Glencore, on the other hand, is a serious contender one day. It's just a question of whether you and I live long enough to see that day. Teeling is no spring chicken, however, so I am hopeful that he is also looking to cash out in the next few years.
i did speculate g11 might use a strong sp to do a little raise well today they have announced it. only $1m. The well respected small cap mining invester Michael Gentile choosing to keep his % 20 %
The Company intends to use the proceeds from the Private Placement primarily for follow-up drilling on
the Company’s Ballywire zinc-lead-silver discovery at the PG West project (100%-interest) in Ireland, as
well as for general and administrative purposes.
*******There may be circumstances, however, where, for sound
business reasons, a reallocation of funds may be necessary.*********
Its a long shot but g11 might buy some of ARKs 23.44%. It fits with a TR1 taking a sudden interst in ark.
Indeed indeed! If he’s who I think he might be he certainly knows a thing or two about the metals/mining sector and I doubt he’d put that sort of money up on a whim!