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Current price very good for Irish zinc miners says Arkle Resources

“We do not believe that the value of Stonepark is reflected in the Arkle price"

Arkle Resources PLC -

A strong zinc price has sparked some interest in its Stonepark joint venture said Arkle Resources PLC (LON:ARK).

“The zinc price, in excess of US$2,000 is very profitable for Irish zinc miners.  This makes the Stonepark discovery an attractive asset and some external interest has been shown,” the explorer said in its interim statement

“We do not believe that the value of Stonepark is reflected in the Arkle price,” it added.

Toronto-based Group Eleven is Arkle’s partner at Stonepark, while Teck is taking the lead at Oldcastle, the second of its zinc projects in Ireland.

Arkle also has gold interests in Ireland and recently identified a new target on its Inishowen project in Donegal between Meeneragh and the former silver-lead mine at Glentogher.

John Teeling, chairman, said: “Where do we go from here?  We will continue to refine drill targets in Mine River (Wicklow) and in Inishowen.  

"We are in active discussions with our partner in Stonepark, Group Eleven, on how to proceed. 

"A number of exciting options exist.  The coming months will be busy.”

Losses for the half-year to June were €170,000 (€160,000).

Quick facts: Arkle Resources PLC

Price: 1.35 GBX

AIM:ARK
Market: AIM
Market Cap: £1.79 m
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