Arkle Resources has secured an 85% stake in Namibia Uranium for £2.03 million, financed alongside an oversubscribed £1.7 million placing. This positions Arkle as a new uranium exploration entity on the London market. The acquisition grants Arkle control of Namibia Uranium, which holds four exclusive prospecting licences in the established uranium-producing Erongo region.
The licences are situated adjacent to major deposits including Trekkopje, Marenica, and Rössing—some of Namibia’s most significant uranium sites. The consideration of £2.03 million will be settled through a combination of cash and newly issued ordinary shares. Concurrently, Arkle completed a placing and subscription that raised £1.7 million via the issue of 425 million new ordinary shares at £0.004 each, significantly oversubscribed according to the company. Of these, 323.75 million were placing shares, while 101.25 million were allocated through subscription.
Namibia Uranium recently finalised processing and interpretation of regional airborne radiometric data covering its four licences. This work identified notable uranium anomalies on all licence areas, which were sampled in 2025; results confirmed surface uranium mineralisation up to 3,855 ppm of triuranium octoxide.
Arkle emphasised Namibia’s status as a Tier 1 uranium supplier to global utilities and its rank as the world’s third-largest uranium producer. The company believes a sustained global nuclear expansion cycle is underway, supporting robust uranium spot and long-term contract prices.
Proceeds from the fundraising will support a multistage exploration programme across Arkle’s Namibian licences. An initial cash payment of £375,000 will be made to the sellers of the Namibia Uranium assets. Phase 1 exploration, budgeted at £375,000, will target two licences, incorporating a horizontal loop electromagnetic survey, airborne radiometric and magnetic surveys, downhole logging of historic drill holes, and further sampling.
Phase 2 exploration, with a planned budget of £525,000, will focus on areas defined during Phase 1 and encompass detailed geological mapping, up to 4,000 metres of reverse circulation drilling, and preparation of an updated technical report. Additional geophysical surveys are also scheduled for the remaining licences. A further £425,000 has been designated for working capital and transaction costs.
The acquisition is aligned with Arkle’s strategy of building a geographically diversified portfolio focused on commodities with strong demand and pricing in established mining jurisdictions. The transaction provides UK and Irish investors with uranium exposure in one of Africa’s prominent uranium belts.
In conjunction with the acquisition, Arkle announced several board and advisory appointments: Rory Harding as interim CEO, Robin Birchall as non-executive director, and Mark Burnett as strategic adviser, all effective immediately.
John Teeling, executive chairperson of Arkle, commented: “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 oversubscription of the fundraise reflects the quality of these exploration assets, the recognition of Namibia as a Tier 1 uranium jurisdiction, and the fundamental strength of the uranium market.”
