REG - Arkle Resources PLC - Acquisition of Namibia Uranium and £1.7m Placing

Arkle ResourcesAnnouncement

29/01/2026 07:00

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RNS Number : 8169Q  Arkle Resources PLC  29 January 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC
LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 (AS AMENDED). UPON PUBLICATION OF THIS ANNOUNCMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

29 January 2026

Arkle Resources PLC

("Arkle" or the "Company")

 

Acquisition of Namibia Uranium Pty Ltd

Over-Subscribed Placing and Subscription to raise £1.7 million

Appointment of New Directors

 

Arkle (AIM: ARK) is pleased to announce the acquisition of an 85% interest in
Namibia Uranium Pty Ltd ("Namibia Uranium") for a total consideration of
£2.032 million (the "Acquisition"), payable through a combination of cash and
new ordinary shares, and a placing and subscription to raise £1.7 million
through the issue of 425,000,000 ordinary shares of €0.0025 each ("Ordinary
Shares") ("Fundraise Shares") at price of 0.4p per ordinary share ("Issue
Price") (the "Fundraise"). The Fundraise was significantly over-subscribed.

 

The Fundraise Shares comprise 323,750,000 Ordinary Shares ("Placing Shares")
issued pursuant to the placing (the "Placing") and 101,250,000 Ordinary Shares
("Subscription Shares") issued pursuant to the subscription (the
"Subscription").

 

Key Highlights

·    Acquisition of Namibia Uranium which holds four Exclusive Prospecting
Licences ("EPLs") in the Erongo Region of Namibia

·    EPLs are adjacent to three major uranium deposits, Trekkopje,
Marenica and Rossing

·    Recent processing and interpretation of regional airborne radiometric
data undertaken by Namibia Uranium identified significant uranium anomalies on
all four EPLs, which have been sampled in 2025 confirming uranium at surface
up to 3,855 parts per million ("ppm") U(3)O(8)

·    Arkle believes the beginning of a sustained global nuclear expansion
cycle is underway, and both uranium spot market and long-term contract prices
will remain robust

·    Namibia is a recognised tier-one supplier to global utilities and the
world's third largest uranium producer

·    The transaction positions the Company as a strong platform for
uranium exploration and development in the London market

·    The Placing will fund a significant 2026 work programme: including
ground and airborne geophysics, mapping, and up to 4,000 meters of reverse
circulation ('RC') drilling

·    The Board has appointed Rory Harding as Interim-CEO, Robin Birchall
as Non-Executive Director, and Mark Burnett as a Strategic Adviser, with
immediate effect

 

John Teeling, Executive Chairman of Arkle, said: "We are very pleased to have
concluded the acquisition of these highly prospective uranium assets in
Namibia, alongside completing a concurrent financing of £1.7 million. The
Fundraise was significantly oversubscribed which is testament to the quality
of these exploration assets, the recognition of Namibia as a tier-one uranium
jurisdiction and the exciting fundamentals of the uranium market. We are
delighted to welcome Rory, Mark and Robin to the Arkle team and look forward
to working with them going forward."

 

Acquisition Rationale

Arkle is actively developing a geographically diversified portfolio across key
commodities where it sees the potential for sustained robust demand and
pricing in world-class jurisdictions. This new acquisition will position Arkle
for UK and Irish investors seeking uranium exposure in one of Africa's key
uranium belts, in proximity to some of the world's largest uranium producers.

 

The Directors consider Namibia to be a highly prospective uranium
jurisdiction, a globally significant uranium producer and consistently ranking
in the top tier on the Fraser Institute's African Mining Index.

 

Fundraise and Use of Proceeds

The Company has raised £1.7milion (before expenses) which will be utilised as
follows:

·    Initial cash consideration to vendors of the Namibia Uranium assets -
£375,000

·    Phase 1 exploration work will concentrate mainly on EPL 8995 and EPL
8290 and will include a horizontal loop electromagnetic ('HLEM') survey, an
airborne radiometric and magnetic survey, downhole logging of historical drill
holes and additional sampling activities - £375,000

·    Phase 2 exploration work will focus on targets developed from Phase 1
and will include detailed mapping, up to 4,000m of Reverse Circulation
drilling and an updated NI 43-101 technical report. Phase 2 will also include
further geophysical surveys over EPL 8298 and EPL 7986 - £525,000

·    Working capital and transaction costs - £425,000

 

About Namibia Uranium

The Company has acquired Namibia Uranium which holds four EPLs in Namibia, one
of which is contiguous to the Marenica deposit, two of which are contiguous to
the Trekkopje deposit, and one licence which is contiguous to the producing
Rössing Mine. Access to the licences is excellent, with easy access to all
parts of the property across the gravel plains of the desert lands, and
climate conditions are conducive to year-round operations.

 

 

 

The Licences are directly contiguous to three world-class uranium deposits:

i.      Trekkopje (Orano) - 340 Mt @ 120 ppm U(3)O(8) - one of the most
significant calcrete-hosted uranium deposits globally

ii.     Rössing (CNNC) - 23.8Mt @ 330ppm U(3)O(8) - one of the world's
largest alaskite-hosted uranium deposits, currently producing over >6 Mlb
per annum U(3)O(8) with over 300 Mlb historic production

iii.    Marenica (Elevate Uranium) - 61.3 Mlbs U(3)O(8) @ 93 ppm U(3)O(8)

Uranium mineralisation in the Trekkopje/Marenica portion of the project area
is the product of uranium fixation within calcrete deposits.  Data from the
adjacent properties indicates that uranium mineralisation typically
outcrops/subcrops at surface and may extend to depths of up to 30 meters.

In January 2025, a sampling programme was carried out comprising of 178
samples taken from small pits dug to depths of 0.35 to 0.5 metres.

 EPL            Mineralisation  Uranium Values             Comments
 8995 and 8290  Calcretes       Up to: 2,782 ppm U(3)0(8)  Sampling confirmed surficial uranium on all areas surveyed

                                Mean: 238 ppm U(3)0(8)

                                (55 samples)
                Alaskite        Up to 3,855 ppm U(3)0(8)   The field programme yielded strong indications of the presence of basement

                          highs representing potential alaskite mineralisation surrounding Trekkopje's
                (TBC)           Mean: 197 ppm U(3)0(8)     large paleo channel systems
 7986           Alaskite        500 to 2,923 ppm U(3)0(8)  Adjacent to Rössing and located on the same domal structure and

                          mineralisation
                                across multiple samples

Samples were delivered to ACTLabs preparation facility in Okahanja, Namibia
and pulps were then transferred by the laboratory to their main facility in
Ancaster, ON Canada.  The samples were analyzed using ACTLabs ME-MS61U
package, a multi-element ultra trace method, with a 4-acid digestion on a
0.25g split analyzed via ICP-MS and ICP-AES. Chris M. Healey P.Geo.,
geological consultant to Oakridge Vision Ltd and Namibia Uranium, observed the
collection of the samples and provided advice to the field crews on sample
collection and handling procedures.

About the Uranium Market

The fundamentals of the uranium market are compelling, given they are
underpinned by tightening supply and steadily rising demand. Years of
underinvestment, mine closures, and disciplined producer behaviour have
constrained primary supply just as utilities are returning to long-term
contracting. At the same time, global demand is being reinforced by nuclear
power's role in energy security and decarbonisation, with reactor life
extensions, new builds, and emerging technologies like small modular reactors
("SMRs") adding durable, long-dated demand. The U(3)O(8) price has started to
respond positively as the supply/demand imbalance has become more widely
recognised, and it is the Company's view that the beginning of a sustained
global nuclear expansion cycle is underway, and both uranium spot market and
long-term contract prices will remain robust.

Consideration

Consideration for the Acquisition is being satisfied by the issue of a total
of 305,000,000 new Ordinary Shares (the "Consideration Shares") and a total
cash consideration of £812,000 payable as follows:

o  £375k payable on completion of the transaction

o  Deferred cash consideration payable as follows*:

§ £242k payable on or before 31 December 2026; and

§ £195k payable on or before 31 December 2027

o  Of the 305,000,000 Consideration Shares, 117,500,000 will be issued to
Oakridge Vision Ltd to acquire its option over the 85% interest in Namibia
Uranium, and 187,500,000 Consideration Shares will be issued to Aron Haludilu,
(the shareholder of Namibia Uranium) for his 85% interest in Namibia Uranium.

 

* £390k of the deferred cash payable will be accelerated on publication of an
inferred mineral resource (NI 43-101 or JORC compliant) of at least 20 million
lbs U(3)O(8) @ a minimum grade of 120 ppm U(3)O(8).

 

The Consideration Shares will be subject to a lock-in from admission to
trading on AIM with 50% of the Consideration Shares subject to a lock-in of 12
months and 50% of the Consideration Shares subject to a lock-in of 18 months.

 

Issue of Adviser Shares

 

The Company has also issued 7,500,000 Ordinary Shares ("Adviser Shares") to an
adviser in connection with the transaction.

 

Director Participation and Related Party Transaction

 

John Teeling and David Cockbill, both Directors of the Company, have
participated in the Fundraise as follows:

 

                 Number of Subscription  Resultant      % of enlarged

                 Shares subscribed for   shareholding   share capital
 John Teeling    3,437,500               63,718,035     4.43%
 David Cockbill  3,125,000               29,893,741     2.04%

 

The participation of John Teeling and David Cockbill in the Placing is a
related party transaction for the purposes of AIM Rule 13 of the AIM Rules for
Companies. The Director independent of the Placing (being Jim Finn) considers,
having consulted with SP Angel Corporate Finance LLP, the Company's Nominated
Adviser, that the participations in the Placing by Mr Teeling and Mr
Cockbill are fair and reasonable in so far as Arkle's shareholders are
concerned.

 

Admission and Total Voting Rights

 

An application will be made to the London Stock Exchange for 737,500,000
Ordinary Shares, comprising the Fundraise Shares, Consideration Shares and
Adviser Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective and that dealings in the new Ordinary
Shares on AIM will commence on or around 3 February 2026.

 

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the
Company confirms that on completion of the Placing and Acquisition, and
following Admission, the Company's enlarged issued ordinary share capital
will comprise 1,468,977,664 Ordinary Shares.

 

The Company does not hold any ordinary shares in Treasury. Therefore,
following Admission, the above figure may be used by shareholders in the
Company as the denominator for the calculations to determine if they are
required to notify their interest in, or a change to their interest in the
Company, under the FCA's Disclosure Guidance and Transparency Rules.

 

Information on New Directors and Advisers

 

Rory Harding (Interim-CEO) and Robin Birchall (Non-Executive Director) have
been appointed to the board of Arkle with immediate effect. Mark Burnett has
been appointment as Strategic Adviser.

 

Mr Harding is an emerging markets specialist with experience in energy, mining
and investment banking and adviser to London merchant bank Strand Hanson. He
is the co-founder and asset originator for multiple publicly-listed mining
companies, most recently Electrum Discovery (TSXV:ELY). Mr Harding formerly
worked in energy trading and has extensive operational experience in Africa,
including in Namibia.

 

Mr Birchall has more than 25 years of experience in the financing and
management of resource companies. Mr Birchall is current CEO of Oscillate plc,
an Africa-focused copper developer, was formerly Chairman of Evolution Energy
Minerals Ltd, CEO at Giyani Metals Corp and Non-Executive Director of Helium
One.

 

Mr Burnett is Director of Mining Investments at RAB Capital, a leading mining
specialist investor in London, with over 10 years investing and corporate
finance experience in extractive industries across North America, Australia
and Europe. He is an Executive Director of Strategic Minerals plc and a
Non-Executive Director of Guardian Metal Resources plc.

 

Schedule 2(g) Information on New Directors

 

The following disclosures are made pursuant to Schedule 2(g) of the AIM Rules
for Companies:

 

Rory John Harding, aged 40, currently holds or has held the following
directorships in the past five years:

 

 Current                             Past five years
 American Renaissance Resources LLC  NeoGreen Hydrogen Corp
 Reston Energy Trading Ltd           Oxley River Capital Pty Ltd
 Onyofi Capital Pty Ltd              Aurous Resources Inc
 Patina Minerals Doo                 Balkan Metals Corp
 Oakridge Vision Ltd                 Strand Hanson Guyana Ltd
                                     Oryx Services Namibia Pty Ltd
                                     Molecula Prospera Lda
                                     Elipse Fidalga Lda
                                     Inside Theory Lda

 

As a result of the transaction, Mr Harding, through related parties, will be
issued with 56,400,000 Consideration Shares and will be subscribing for
18,750,000 shares in the Placing. Mr Harding's resulting holding in the
Company will be 75,150,000 Ordinary shares representing 5.12% of the enlarged
issued share capital.

 

 

Robin Jonathan Eckford Birchall, aged 55, currently holds or has held the
following directorships in the past five years:

 

 Current        Past five years
 Oscillate plc  Evolution Energy Metals Limited
                Awale Resources Limited
                Georgetown Real Estate Company
                Giyani Metals Corp
                Helium One Global Limited

 

As a result of the transaction, Mr Birchall will be issued with 11,750,000
Consideration Shares. Mr Birchall's resulting holding in the Company will be
11,750,000 Ordinary Shares representing 0.80% of the enlarged issued share
capital.

 

Other than those as described above, no other disclosures in relation to
Messrs Harding and Birchall are required under Rule 17 and Schedule 2(g) of
the AIM Rules for Companies.

 

Information in this announcement relating to the exploration results is based
on data reviewed by Chris M. Healey, P.Geo., a consultant to Oakridge Vision
Ltd and Namibia Uranium Pty Ltd. Mr Healey holds a Licence to Practice as a
Professional Geoscientist, issued by Engineers and Geoscientists British
Columbia (Licence number 36477), has in excess of 50 years' experience in
mineral exploration and is a Qualified Person under the AIM Rules. Mr Healey
consents to the inclusion of the information in the form and context in which
it appears.

 

 

Enquiries:

 Arkle Resources PLC
 John Teeling, Chairman                 +353 (0) 1 833 2833
 Jim Finn, Finance Director             +353 (0) 1 833 2833
 Rory Harding, Interim CEO              +44 (0) 203 051 5348

 SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker
 Matthew Johnson                        +44 (0) 203 470 0470
 Adam Cowl
 Charlie Bouverat

 First Equity Limited
 Joint Broker
 Jason Robertson                        +44 (0) 207 374 2212

 BlytheRay
 Megan Ray                               +44 (0) 207 138 3204

 Teneo
 Luke Hogg                              +353 (0) 1 661 4055
 Molly Mooney
 Ciara McNamee

 

 

Dealings by Persons Discharging Managerial Responsibilities

 

  1   Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1)    John Teeling

                                                                   2)    David Cockbill
 2    Reason for the notification

 a)   Position/status                                              1)    Executive Chairman

                                                                   2)    Non-Executive Director
 b)   Initial notification /Amendment                               Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                          Arkle Resources plc

 b)   LEI                                                          213800CTOO8MOLMNEQ44

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary Shares of €0.0025 each.

      Identification code                                          ISIN: IE00B2357X72

 b)   Nature of the transaction                                    Participation in Fundraise

 c)   Price(s) and volume(s)

Director                  Price  Volume

                                                                                     John Teeling              0.4p   3,437,500

                 David Cockbill            0.4p   3,125,000

 

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price                                                      0.4 pence

 e)   Date of the transaction                                      29 January 2026

 f)   Place of the transaction                                     Off-market

 

 

 

 

 

 

 

 

 

 

 

 

 

d)

 

Aggregated information

- Aggregated volume

N/A

- Price

0.4 pence

e)

 

Date of the transaction

29 January 2026

f)

 

Place of the transaction

Off-market

 

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