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The desirability of Stonepark. And why Glencore bought in. Very good summation
Https://www.proactiveinvestors.co.uk/companies/news/906845/glencores-arrival-on-the-group-eleven-share-register-is-likely-to-be-a-game-changer-in-more-ways-than-one-906845.html
Key to remember ARK have opted to keep their 23.44% of Stonepark Zinc rather than dilute on the additional 1 priority drill hole. Cost of additional drill hole to ARK is 23.44% of 120K Euro = £25K
Teeling is right that with all these promises of renewables etc then there has to be a tipping point re supply and demand and investment must follow.
The Irish Government will I believe change their stance on explorers/miners in view of the current circumstances.
Let's hope the drill results becomefar too compelling for Glencore to resist.
GL.
I would imagine it is difficult for small cap miners to raise funds atm given market turbulence. I am going to sit tight and with some further decent Stonepark drilling results Glencore/G11 just buy our share with a bit of petty cash (Glencore returned $4BILLION to shareholders earlier this year so £10M+ would be peanuts!)
auc, correct,and there aren't that many shares in issue anyway,so any significant find will have a huge impact on the s.p. exciting times ! glta
Good Q, previously warrant holders have supported. I don’t think one hole costs a lot and our cost is only 23.44% of total. Would have been nice for clarification tho
will there be further dilution to pay our share of the costs of this new hole?
if it was me i'd wait for the current zinc drilling to complete. Hopefully more good news. Maybe then sell the crown jewel off in part or whole. Use funds for other projects and or dividend.
Yes Auc, very hopeful that more decent drilling results might be transformational for ARK. In the meantime what are our BoD doing atm (Group 11 are running the Stonepark show!)? What is happening with our 3 lithium licences in Southern Zimbabwe? What about the 'examining a specific exploration opportunity in another jurisdiction' referred to in the Annual Report on 29 June? What about our 100% owned gold projects at Inishowen & Mine River?
Teeling/BoD are not very good at communicating with shareholders apart from the regular tweets extracted from the company presentation document!
great RNS. Confirmation of priority follow up drilling. The size of he prize should should bring a few to the table. risk/reward is bonkers.
"potential to host zinc similar in style and scale to Glencore's Pallas Green." (45mt)
"At Carrickittle West, the Company's drilling this summer intercepted a large and prospective fault structure within the Limerick Volcanic Complex, strongly corroborating management's view that this prospect has potential to host zinc mineralization similar in style and scale to Glencore's nearby Pallas Green deposit1. Follow-up drilling at this prospect could have significant positive implications in confirming the potential for large scale mineralized system."
GL.
Here is the group eleven news release just published which explains this extra drill hole in the wider context of their overall upcoming exploration program:
https://ceo.ca/@newswire/group-eleven-announces-plans-for-near-term-follow-up
Yes, very interesting! Can't wait for the results....
Great news they want to drill an extra hole!
Sounds to me they are very very confident of hitting the sweet spot and exceeding Glencore's Pallas Green deposit!
GL.
ZINC - the large fault system discovered earlier this year at Stonepark
I'm keen to hear more on ( as G11 and ARK put it ) 'priority' drilling .
The concern is the holes might be drilled by end of year, but, will the early results be sandbagged til final result is in? Releasing as a project instead of individual?
It has happened before, I don't have much faith in JT at the best of times but even I know this isn't on him. We are the minority partner, all we can do is swing on the coat tails and hope we do don't drift further waiting without other asset news.
Granted, I think we are all her for Irish Zinc more than the other dilutions requirements haha
Article in todays irish Sunday independent newspaper.
"Limerick drill op shows signs of large zinc system. "
continues...
The article is available on ARK telegram group.
My take. validates G11. they know where to drill.
As we know earlier this year G11 and Ark reported a large fault system discovery that was highly prospective and could eclipse Glencores large Pallas green deposit of 45mt.
for clarity i should have added we have the same % interest in the remaining two stone park holes, its just that they wont be drilled till later this year. i am just hopeful we get news after the first drill. glta
lets hope there's good news after the next drill, which is the one we have a 24% interest in. totally aggree re glencore. glta
* Not last hole now commencing. Should read *LATEST hole now commencing.
RNS confirms all current Stonepark drilling will be done by yr end. Last hole now commencing.
Whatever the result June’s news was stellar, MAJOR fault discovered ( possibly bigger than Pallas green at 45mt). Both G11 and ARK confirmed there will be priority follow up drilling.
Exciting times ahead
Cliveas, don't forget that Glencore own 26% of G11 so will know exactly what is happening at Stonepark...
Buying our share of Stonepark (or the whole company!) would be petty cash for Glencore. From memory they returned $4BILLION to shareholders earlier this year after record profits. We will see what unfolds after the completion of the latest drilling by Group 11
Surely Glencore have got their eye on the prize?
GL.
OUR VISION
'Our vision is for Arkle Resources to be regarded as the leading junior gold and base metals explorer in Ireland, as a preferred investment and as a preferred joint venture partner.'