Member Info for adamk87

Jack you aint making sense pal, they paid 1 mill for 11% of G11, which in turn owns 75% of Stonepark.

You really don’t get how this works do you.

Now, the Pallas Green grades are probably not material to the Glencore share price, so it may be true that the full picture there isn’t in the public domain. But even so, there was clearly grounds for a good discussion if nothing else.

What moved it on, though, is the potential that Stonepark offers for upside. The asset sat for a long while inside the John Teeling vehicle Connemara Mining, at a time when the dearth of funding available to juniors seriously hampered progress. A change of management at Connemara – and a name change too, to Arkle Resources (LON:ARK) – and the arrival of Group Eleven onto the scene, has transformed the picture.

Group Eleven has managed to put serious money into exploration work in the short time it’s been in control and perhaps even more importantly has been able to formulate some intriguing new geological propositions.

“Stonepark is part of the same geological system as Pallas Green,” says Bart Jaworski, the chief executive of Group Eleven.

“This area is called the Limerick area and is very much in its infancy in terms of exploration.” Jaworski cites in particular a hole drilled by Group Eleven earlier this year, which penetrated under the volcanics which underly both Stonepark and Pallas Green.

“We discovered a 200 metre thick hydrothermal system. It could be the outer edge of a new zinc system. After we announced that hole, we started to get a lot more attention from industry specialists.”

One of those paying attention was Glencore, and the kind of attention it was prepared to lavish on Group Eleven can be gleaned from the 140% premium it was prepared to stump up to get in on the action.

But if Glencore was keen to get on board, Jaworski was no less keen to have them.

“There’s no better investor for us than Glencore,” he says. “It’s the best partner we could have had in terms of the natural fit here.”

And with the backing of Glencore, he can afford to broaden the company’s horizons somewhat.

“2020 will be a very active year for us. Stonepark will be our key focus and work will consist of drilling and probably some geophysics.

The first is as an unequivocal endorsement of the potential of Group Eleven’s Stonepark zinc project in Ireland. Stonepark is contiguous with Glencore’s own long-standing development at Pallas Green, and although the tonnage at Stonepark, as things stand, remains considerably lower - the grade is higher. The attractions for Glencore are obvious, and it perhaps shouldn’t surprise anyone that in the middle of October the commodity giant subscribed for shares equating to around 11% of the equity of Group Eleven, pumping a very welcome C$1mln into the company in the process.

That is not the same thing as buying Stonepark.

That is paying 1 million to own 11% of a company that owns 75% of stonepark.

Jack your figures are wrong. Where did you find them from?

Greets i also note you have plenty of exposure to gold stocks. You will do well bud. GL

We had sellers at 1p over at EUA, sellers on many many shares that go on and multiply (funnily enough most go on a run once the seller has cleared). Sellers sell for a number of reasons and most the time it has very little to do with the business itself.

On the flip side of that we’ve had directors recently buying up 2m shares each amounting to 6.5m in recent placing. That doesn’t guarantee anything, it does give me confidence in this though.

Yes Jones. Imo 5x which equates to SP of 10m is nailed on. I feel that is where we should be currently given the assets we own.

Any wind of who these interested parties are in the short term and we’ll be up there before you know it.

100% agree.

Yes and also the fact he mentioned our share in the 1 licence at Stonepark alone is worth much than current mcap, yet we have 5 other licences and much more exploration opportunity, also 2 gold projects 100% owned by ARK.

Mentions a lot of interest in the Stonepark project and the fact ‘he cant say much more’ suggests there is much more too it, which hasn’t been put to the market yet. Clear as day, offers will be made to buy out ARK share, given Glencore have bought 11% of Group eleven (who own the other 76% of stonepark and the adjacent zinc mine) im almost certain they will look to take ARK share and before the summer months in which other areas of Stonepark will be explored.

Ceo has a wealth of knowledge and experience, more importantly some very good high level connections in the mining game. I also love the fact they have put out this interview off the back of Fridays news, clearly the sp doesn’t reflect the assets we own (something which was alluded to in the podcast numerous times). Very much remind me of EUA sub 1p with active board and frequent messages to shareholders. GL

Bounceback thanks for posting, didn’t realise you had until after posting.

Iain fyi - directors took 6.5m of the recent placing shares in March. Always a good sign

https://mobile.twitter.com/MarketMusing/status/1261972951215280133

https://arkleresources.com/wp-content/uploads/2020/03/Arkle-Resources-PDAC-2020.pdf

He pointed to the “significant upside potential for a major discovery” along the Pallas Green corridor in line with the model proposed by Group Eleven, with the southern part sparsely explored but recent drilling revealing the potential for further discovery.

“Newly reviewed airborne geophysical is assisting in refining the new targets as well as revealing newly prospective features in this area of the Stonepark block,” Cullen said.

What it owns

Zinc
Stonepark - Arkle Resources owns 23.44% of the Stonepark Zinc Project.

Toronto-listed partner Group Eleven Resources Corp (CVE:ZNG) has defined a maiden Independent NI43-101 Inferred Resource of 5.1 Mt grading 11.3% combined zinc and lead, making it the second largest undeveloped zinc and lead Resource in Ireland after Glencore’s Pallas Green.

Stonepark lies to the west adjacent to Pallas Green, but at shallower depths.

Oldcastle - Arkle has a joint venture with Teck Ireland at Oldcastle in counties Cavan and Meath. Teck has earned in 75%, Arkle owns the remaining 25%.

Derrykearn - The Derrykearn Project consists of five licences in total, five contiguous licences in County Laois.

Ladyswell - Two contiguous licences, PL4504 and PL4505, in West Cork, south of Clonakilty.

Gold
Mine River - Arkle holds a block of eight licences (340 sq km) that cover an area of known gold mineralisation which extends along a trend of some 15 kilometres.

Further work to develop the existing gold targets is ongoing and fieldwork re-commenced in 2019.

Inishowen - The Inishowen gold project is located in County Donegal, Ireland.

These licences are considered by Arkle Resources to be highly prospective for mesothermal gold mineralisation similar to that found at the Curraghinalt Project developed by Dalradian Resources.

Arkle Resources is the first company to drill for gold in the area.

In September, Arkle announced a new gold target at Inishowen between the Meeneragh gold discovery drill site and the historic Glentogher lead-silver mine.



Project developments

In October 2019, Stonepark project partner Group Eleven attracted a C$1mln equity investment from FTSE 100 giant Glencore PLC (LON:GLEN), which is operating nearby.

Arkle said in November that it has begun a formal strategic review to examine options for its Stonepark stake.

The company noted that, in addition to its share of the project, it also holds offtake rights on 23.44% of any production and in the event of a sale by Group Eleven, Arkle holds equivalent pre-emption rights.

After original Stonepark partners Teck sold their majority stake, the company elected to maintain its share and contribute accordingly, but with zinc prices remaining well above the $2,000 per tonne range and industry interest in the asset, Arkle's board said it was "an excellent time to review that decision".



What the boss says: Patrick Cullen, chief executive

“There is significant interest in the Stonepark zinc project, we believe because of the high grade and relatively shallow position of the established Inferred Resource and its strategic location adjacent to the far larger Pallas Green zinc-lead deposit,” Cullen said in November.

He pointed to the “significant upside potential for a major discovery” along the Pallas Green corridor in line with the model proposed by Group Eleven, with the southern part sparsely explored but recent drilling revea

Sit back and chill, add and punish any dips from todays price (i doubt we’ll see sub 1p given less than a grand sold on most recent dip before moving up). How quickly it moved up before sellers (i assume) auto sells triggered and bought it back down again.

Hopefully a TR1 next week confirming seller out (or almost out) as they only had 12m left on latest notification.

Can see big players taking a position here shortly, tiny mcap with higher grades than glencore..takeover has to be a case of when and not if given we’re sat on a free ride @ 25%.

Have a good weekend all and stay safe.

Decent amount of buys going in at 1.12 all showing as sells as price is below mid price of 1.125

GL

Look how quickly the ask is taken up. Mm’s are playing buyers against sellers for now, sells will dry up any time and this will then move as quickly as it did earlier. Dont panic and show a little patience. GL

Richard hang fire bud, it will be back up there next week. It’s common for shares that are due a rerate to rise sharply, then drop shaking out weak holders and profit takers and then the real rise occurs.

Its happened to me over and over on shares over the last year, IDE, EUA, ROCK and a few others. Shares are volatile when rerates are due and also as the last poster pointed out there was a seller (check tr1 rns) recently so hopefully he gets his backside out the door off the back of todays rise and volume.

You’re not the only one temporarily spiked friend, i paid 1.25p. Next week this will be back with a bang, if you can add sub 1p-1.20p i would recommend doing so. GL

15-May-20 14:03:26 1.49 453,854 Buy* 6,762 O

15-May-20 15:48:43 1.069 453,854 Sell* 4,852 O

- Wow this person will run out of money very quickly. Thats not even trading, its delusional. Find a new less expensive hobby dude.

Unknown trader, salty as usual i see. There were multiple 8k plus buys around 1.5p hence the spike up to there. It will be back above there late today or early next week as thats just how these things go (not that you would know given the beating you take on stock market).