Arkadian Strategic Metals PLC (AIM:AKN, OTC:ALBAF, FRA:9AB), in its interim results statement, highlighted its move to take control of Greenland’s Motzfeldt Critical Metals Project, which is described as "an asset of increasing strategic relevance", whilst noting that further funding will be needed to advance its exploration portfolio.
The company increased its Motzfeldt interest to 51% after receiving Greenland government approval in May, and it has taken the project’s exploration licence into a second five-year term running from 2026 to 2030.
Sampling at the Merino prospect returned grades of up to 1.36% total rare earth oxides, 0.73% niobium pentoxide and 2.3% zirconium dioxide. Average grades were at least 2.6 times those in the existing Aries JORC resource area, Arkadian said.
For the six months to 31 May, the group recorded a £627,000 loss after tax, narrowing from £761,000 a year earlier, while cash stood at £305,000. Arkadian raised £800,000 gross through a placing in March but said its current resources are insufficient to cover recurring costs and planned exploration spending for the next 12 months.
Since period-end, the company has completed its 2026 Motzfeldt field programme, including hyperspectral imaging, environmental baseline studies and collection of a new Aries bulk sample.
At its Clogau-St David’s gold mine in Wales, meanwhile, work has shifted towards the Jack Williams stope after Level 5 processing returned uneconomic gold grades.
