Arkle Resources PLC (LON:ARK)

Arkle Resources PLC (LON:ARK)


Share Price
1.15 p
Change
0 (0.00 %)
Market Cap
£1.52 m
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Arkle Resources PLC

Arkle Resources PLC is a diversified exploration company with principal assets in gold and zinc exploration licences across Ireland.  Connemara currently holds interests in a total of 37 licences, including joint ventures with Teck Ireland Ltd. at the Oldcastle Zinc Project and with Group Eleven Resources Corp. at the Stonepark Zinc Project.

EPIC: ARK
Market: AIM:ARK
52-week High/Low: 3.34p / 0.88p
Sector: General Mining - Zinc, Lead and Tin
Market Cap: £1.52 m
Website: arkleresources.com
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Big Picture – A Deep Dive Examination of Arkle Resources PLC


Arkle Resources PLC Snapshot

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.

Our objective is to create shareholder value by exploring in Ireland, one of the most prospective countries in the world for zinc and lead (as well as Europe’s largest producer) and where recent developments on gold projects have attracted the interest of major investment. Additionally, our objective is to be joint venture partner of choice for larger mining companies and investment funds, and enter into such agreements when this is beneficial to our shareholders while maintaining focus on our core competencies.

We will keep a flat, low-cost organisational structure and maintain a balance of 100% owned and joint venture projects. We will use our reputation and knowledge to continue to access ground prospective for both base and precious metals, and be alert to emerging opportunities, adapting our strategies accordingly.

Gold in Ireland

Gold


Gold is sought after not only for investment purposes and for jewellery, but it is also used in the manufacturing of certain electronic and medical devices.  The demand for gold, the amount of gold in the central banks’ reserves, the value of the U.S. dollar and the desire to hold gold as a hedge against inflation and currency devaluation, all help drive the price of gold.  According to the World Gold Council, gold prices are robust following reappraisal of gold’s role and relevance after the 2008 financial crisis, western banks have ceased sell-offs and eastern banks are buying bullion.

Consumer demand in China is growing amongst the newly affluent.  The perceived political risk observed in many countries where gold is mined and the rise of so-called resource-nationalism has brought stable jurisdictions such as Ireland and Northern Ireland back into the limelight.  At present only the small Galántas mine in Omagh is operating,  elsewhere at the Curraghinalt Project, Dalradian Resources established a significant Resources and Reserves.

Ireland has always been prospective for gold and continues to have a significant number of prospectors throughout Ireland.  Since the 1790’s the Mines River area has been synonymous with gold.  A number of finds of alluvial gold in rivers and streams in the area resulted in the ‘Avoca Gold Rush’ in the late 1700’s – early 1800’s.  The British sent a detachment to control the situation but the soldiers joined the panning.  It was a short lived boom but since then numerous unsuccessful attempts have been made to find the mother lode.  It is said that Charles Stuart Parnell panned the river behind his house, Avonmore, in the Wicklow hills, until he had enough gold to make a wedding ring for Kitty O’Shea.  In recent years a Garda in Naas using a metal detector found some large beautiful nuggets.  We have always been a big believer in ‘closeology’ i.e. the best place to find gold is where gold has already been discovered.  There is significant information on the prospectivity of the area as earlier explorers had previously spent a significant amount of money looking for the source of the Avoca gold rush.

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Zinc in Ireland

Zinc

Zinc is the fourth most mined mineral resource in the world. Zinc is mainly used for galvanising – cars, construction, appliances and electronics. Therefore as a base metal it is a strong indicator of economic growth. As the world economy grows and an ever increasing middle-class, so does the demand for zinc. As both population and income grows in the emerging economies the long term fundamentals for zinc remain good.

However, poor economic returns in the 1980’s and 1990’s resulted in very little exploration over the past 30 years as a result mines are running out with the expectation that 1 million tonnes of supply per annum will be lost from the middle of the decade. Therefore increasing demand and an expected fall off in zinc supply will keep prices firm in the medium to long term.

Irish zinc has always been much sought after with two of the world’s largest zinc mines, Tara and Lisheen operating in the country. Both the grade and quality of Irish zinc is extremely high in comparison too many other zinc prospective areas.

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Arkle Resourcesd PLC is focussed on zinc and gold exploration in Ireland.  Ireland is one of the most prospective countries in the world for zinc and produces 25% of Europe’s total production.  Ireland has an emerging gold mining industry.  The country is a stable jurisdiction, has a favourable tax regime, a skilled workforce and good infrastructure. It is ranked highly in Europe and globally in terms of mining and exploration investment attractiveness.

Corporate Governance

The directors of Arkle Resources PLC recognise the importance of sound corporate governance and have adopted the QCA Corporate Governance Code 2018 published by the Quoted Companies Alliance, to the extent they consider it appropriatehaving regard to the size and resources of the Company.John Teeling, in his capacity as Non-Executive Chairman, with assistance from Chief Executive Officer Patrick Cullen, has assumed responsibility for ensuring that the Company has appropriate corporate governance standards in place and that these requirements are communicated and applied.The Board currently consists of five directors: Non-Executive Chairman; Chief Executive Officer; Financial Director (and Company Secretary); and two Non-Executive Directors. The Board considers that appropriate oversight of the Company is provided by the currently constituted Board. This view will continue to be reviewed by the Board. The Board has a Chairman, with the CEO being excluded from taking on this role.The principles set out in the QCA Code are contained within the document linked below, with an explanation of how Arkle Resources applies each of the principles.

Board & Management

Patrick Cullen – Chief Executive Officer

Patrick Cullen is chief executive officer of Connemara Mining and his career in the resources industry spans more than 20 years. During this time he has had experience at various majors including Schlumberger, AngloGold, Placer Dome (now part of Barrick), Anglo American Platinum, and exploration companies such as African Energy Resources (ASX), Montero Mining and Exploration (TSX-V) and Kodal Norway (UK) Ltd. Patrick has leadership and technical experience across a range of commodities and mineralization styles in brownfield and greenfield exploration as well as mining expansion projects. He holds a BSc. from University College Cork (1992), a BSc. (Hons) Geology from the University of Portsmouth (1994) and an MBA from the University of Southern Queensland, Australia (2008).

John Teeling – Non-Executive Chairman
John Teeling is executive chairman of Connemara and has 40 years’ resources experience. Teeling is also involved in a number of other AIM exploration companies and has been a serial entrepreneur in the resource sector having founded African Diamonds and created Pan Andean Resources, Minco, African Gold, Persian Gold and West African Diamonds, all listed on AIM. He is also the founder and a former director of Kenmare Resources, former director of Arcon and holds interests in a number of industrial ventures. Mr. Teeling holds degrees in Economics and Business from University College Dublin, an MBA from Wharton and a Doctorate in Business Administration from Harvard. He lectured for 20 years in business and finance at University College Dublin.

James Finn – Financial Director/Company Secretary
James Finn is finance director of Connemara and has over 20 years’ experience in working with exploration companies. Mr. Finn has extensive experience in the administration of oil and gas and minerals companies. He has been responsible for listing several resource sector companies on AIM in London, including two of the first companies ever listed on AIM, Pan Andean Resources and African Gold. He holds a degree in Management and an Association of Chartered Certified Accountants (ACCA) qualification.

Michael McNeilly – Non-Executive Director
Michael is an experienced public company director and corporate advisor having advised several private, Main Market listed, AIM quoted and NEX listed companies on a variety of corporate transactions during his tenure at Arden Partners (LON:ARDN) and Allenby Capital respectively. He is the Chief Executive Officer of Metal Tiger plc (LON:MTR) and was also previously a director of Greatland Gold plc (LON:GGP), as well as a Corporate Executive at Coinsilium (NEX:COIN) where he worked with early stage blockchain focussed start-ups. Michael studied Biology at Imperial College London and has BA in Economics from the American University of Paris (2009).

David Cockbill – Non-Executive Director
David Cockbill is an experienced corporate financier and public capital markets executive. Born in Northern Ireland, he studied accountancy at Manchester University before commencing a 35 year career in the City of London at various leading investment banks as a proprietary trader. David has been a Financial Conduct Authority (FCA) regulated person, for the last five years, focusing on opportunities within the micro-cap sector and raising capital for public companies in the natural resources and technology sectors.

Technical Advisor
Gavin Berkenheger – Consultant Geologist
The directors of Arkle Resources PLC recognise the importance of sound corporate governance and have adopted the QCA Corporate Governance Code 2018 published by the Quoted Companies Alliance, to the extent they consider it appropriate having regard to the size and resources of the Company. John Teeling, in his capacity as Non-Executive Chairman, with assistance from Chief Executive Officer Patrick Cullen, has assumed responsibility for ensuring that the Company has appropriate corporate governance standards in place and that these requirements are communicated and applied. The Board currently consists of five directors: Non-Executive Chairman; Chief Executive Officer; Financial Director (and Company Secretary); and two Non-Executive Directors. The Board considers that appropriate oversight of the Company is provided by the currently constituted Board. This view will continue to be reviewed by the Board. The Board has a Chairman, with the CEO being excluded from taking on this role. The principles set out in the QCA Code are contained within the document linked below, with an explanation of how Arkle Resources applies each of the principles.

 

21st March 2019
23.69% - 21st March 2019
132,311,593 - 21st March 2019

Corporate Directory

UK Financial PR
Blytheweigh
Julia Tilley / Jane Lenton
T: +44 (0)20 781 506 8387
Email : [email protected]  / [email protected]

Ireland Financial PR

Teneo
Luke Hogg / Alan Tyrrell
T: +353 (0)1 661 4055
E: [email protected] / [email protected]

Bankers

Ulster Bank
Coolock Village
Malahide Road
Dublin 5
Ireland

Nominated Advisers & Brokers

SP Angel Corporate Finance LLP
Prince Frederick House, 35-39 Maddox Street
London, W1S 2PP
United Kingdom

Joint Brokers

First Equity Limited
Salisbury House, London Wall
London, EC2M 5QQ
United Kingdom

Auditors

Deloitte & Touche
Deloitte & Touche House
Earlsfort Terrace
Dublin 2
Ireland

Registrars

Computershare Investors Services
Heron House
Corrig Road
Sandyford Industrial Estate
Dublin 18
Ireland

Solicitors

OBH Partners
17 Pembroke Street Upper
Dublin 2
Ireland

Corporate Directory

UK Financial PR
Blytheweigh
Julia Tilley / Jane Lenton
T: +44 (0)20 781 506 8387
Email : [email protected]  / [email protected]

Ireland Financial PR

Teneo
Luke Hogg / Alan Tyrrell
T: +353 (0)1 661 4055
E: [email protected] / [email protected]

Bankers

Ulster Bank
Coolock Village
Malahide Road
Dublin 5
Ireland

Nominated Advisers & Brokers

SP Angel Corporate Finance LLP
Prince Frederick House, 35-39 Maddox Street
London, W1S 2PP
United Kingdom

Joint Brokers

First Equity Limited
Salisbury House, London Wall
London, EC2M 5QQ
United Kingdom

Auditors

Deloitte & Touche
Deloitte & Touche House
Earlsfort Terrace
Dublin 2
Ireland

Registrars

Computershare Investors Services
Heron House
Corrig Road
Sandyford Industrial Estate
Dublin 18
Ireland

Solicitors

OBH Partners
17 Pembroke Street Upper
Dublin 2
Ireland

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