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Thanks, Tim, not long to wait then for potential big news
I think it is 4 weeks for drilling come Wednesday .then testing the cores as they go .I think it will next week before results will be released. Group 11 .drilled carrickittle back in may .from drilling to results was six weeks.
I think it is 4 weeks for drilling come Wednesday .then testing the cores as they go .I think it will next week before results will be released. Group 11 .drilled carrickittle back in may .from drilling to results was six weeks.
I'm surprised we haven't had any further news here. The drilling must be finished ?
Extract from the latest RNS re Gold prospects...
Gold has had an outstanding price rise in the past year, touching $2,000 an ounce and remaining around $1,900. This rise has filtered through to the share prices of gold mining shares and onwards to the share prices of many gold prospecting companies. Arkle, with prospective gold ground in Ireland, has not to date, benefitted from rising prices but was able to raise new money for exploration.
We are very active on our Wicklow / Wexford gold licences and on our gold ground in Donegal. No one has ever found the source of the extensive gold discovered in Wicklow. It was mined over 200 years ago and has seen numerous explorers spend money in the area. Arkle has a huge database on the ground. There is a swarm of gold bearing veins running down the Wicklow hills. The veins are often narrow, but can be very high grade, in excess of 25gms, per tonne of rock. In recent years we have focused on two areas, Tombreen and Knocknalour. In both areas we found high grade gold. We have drilled between and around the two areas, to date with limited success. Following an extensive 2019 review of our gold database, a tight soil sampling programme was undertaken just south of Carnew. A 5km square area was surveyed using XRF handheld technology taking soil samples every 20 metres along 100 metre spaced grid lines. The results were good, five new anomalies were identified. The next stage of exploration at Mine River is trenching to see the extent of the gold. This work is ready to start once approvals are obtained from the authorities. We are hoping to undertake this before winter closes in.
Our Donegal gold sampling has produced good results. We were sampling on a tight grid along a trend where we had previously obtained some good gold grades. We found what we were looking for but were delighted to discover strong gold indicator mineral levels to the southwest on our licence, stretching outside of the sampling area. We are immediately sampling this new area to identify drill targets.
Hopefully, this is the floor and rise up into next news?
And it’s always good to get in at - or near - placing price, puts a floor under it. Quite a compelling buy opportunity given what seems imminent and missed by most so far. Looking to add a chunk pdq if other portfolio stocks allow. GL
Hope so, that’s why we’re in.
Bod have a habit of bagging shares. Just gotta buy while they’re quiet.
Should be all good then.
Gl dude.
Hi GB. From RNS says Oversees assets most can’t hold a candle to current in Ireland, but singled out a couple in Africa (battery metals) at early stage. Point being you don’t go shopping without the money to do so. Reads like heads up sale incoming, The money is on the table after all as the RNS states “under consideration”
Auk1
That’s a very reasoned view you’re holding and one I share. I think the crux of the point from these levels is whatever stonepark was/is sold for will add to the market cap & we would be looking at a gain in sp.
Personally, although the company arnt exactly rich I wouldn’t expect them to sell for less than 5m as otherwise they very likely would have done so already.
Golds the play in the current economic climate so if they put any cash they made into it I would certainly remain happy to hold.
Time will tell. News within the next few weeks.
Comments on possible Stonepark valuation cheers guys. We need be mindful the current MC is only a coupe of £Mill.
Any buyout has to be set against that and we'll get a measure of potential uplift in SP. So a Couple of Mill Market Cap with a £5M buyout will have me dancing in the street. £10M and ill do it naked! lol IF Ark do become cash rich Q is what do they do with it. I note tArk said had a look at overseas assets. Current drilling at Stonepark might be used to firm up the numbers ahead of the Sale that is currently under consideration
Surprised this is still trading sub 1p after latest updates. Happy to add on the dips...
We will know the value of stonepark in two to three weeks from start of drilling to results seam to be approximately 5 to 6 weeks an on good results glencore would want to buy arkle % so they would have approximate 50% of stonepark .put at what price would they pay?
Group Eleven is listed and owns 75%
Auc1
Really hard one. No doubt Glencore will want it given they are next door and buying into the jv partner, clearly showing intentions, but as will all negotiating you’re never going to show your hand to early or that you are to keen.
Glencore know ark arnt really in the best negotiating pos given £600k in the bank & why buy it or bid for it early or pay over the odds when it’s so far from production and they may even get the chance to buy it cheap when ark need finance.
Best possibility would be a sale to another firm that intends on riding it out & then maybe selling it on to Glencore down the line or seeing it through.
Based on this it’s to hard to speculate tbh mate. Pulling numbers out my arse I wouldn’t think ark would sell it for less than £10m, would be silly to do so given the ducks that are lined up.
But who knows.....
It’s worth what someone is whiling to pay & if 2 people decide they want it we’ll then it’s probably worth more.
Stonepark buyout value, any reasoned guesses?
Apologies.
Drilling ongoing on the Stonepark zinc project 23% of approx 440kT - expecting to add more.
- Trenching of newly discovered gold anomalies at Mine River to proceed
- Good results from soil sampling in Donegal. New area identified - Results here - http://www.rns-pdf.londonstockexchange.com/rns/1401A_1-2020-9-25.pdf
- Corporate interest in the Stonepark zinc project - Glencore next door.
- Over £500,000 raised during the period and £600,000 raised in August to fund ongoing exploration and working capital