Arkle Resources PLC has entered the nuclear energy sector through the acquisition of an 85% interest in Namibia Uranium Pty Ltd, after raising approximately N$37.37 million (£1.7 million) via an oversubscribed placing and subscription.
The acquisition, valued at about N$44.66 million (£2.03 million), gives Arkle control of four Exclusive Prospecting Licences in Namibia’s Erongo Region. The licences are located close to some of the world’s most significant uranium assets, including the producing Rössing Mine, as well as the Trekkopje and Marenica deposits.
Namibia is currently the world’s third-largest uranium producer. Arkle executive chairman John Teeling said the transaction was driven by what he described as a sustained global nuclear expansion cycle, with uranium spot and long-term contract prices expected to remain firm as demand for carbon-free baseload power grows.
“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, reflecting the quality of the assets, Namibia’s standing as a tier-one uranium jurisdiction and the strong fundamentals of the uranium market,” Teeling said.
Recent data processing has identified uranium anomalies across all four licences, while surface sampling conducted in 2025 confirmed uranium concentrations of up to 3,855 parts per million.
The N$37.37 million raised through the issuance of 425 million shares at 0.4 pence each will be deployed to fund an intensive 2026 exploration programme. Initial work will include airborne and ground geophysics, such as radiometric and magnetic surveys, aimed at refining existing targets.
A second phase will involve up to 4,000 metres of reverse circulation drilling to test the depth and continuity of the surface anomalies. This will be accompanied by the preparation of an updated NI 43-101 technical report to establish a formal resource framework.
Arkle has also restructured its leadership team to support its expansion into Africa. Rory Harding has been appointed interim chief executive officer, with Robin Birchall joining as non-executive director and Mark Burnett appointed as strategic adviser.
Arkle Resources is an AIM-listed exploration company with gold and zinc projects in Ireland. Founded in 2004 and listed on the London Stock Exchange in 2007, the company holds interests in 28 prospecting licences across Ireland, including projects operated through joint ventures with Teck Ireland Ltd and Group Eleven Resources Corp.
