London-listed Arkle buys Namibia uranium stake for N$49m
London-listed company, Arkle Resources, has acquired an 85% stake in Namibia Uranium Pty Ltd for £2.032 million, equivalent to about N$49 million, while simultaneously raising £1.7 million, or roughly N$41 million, through an oversubscribed placing and subscription to fund exploration and development work in Namibia’s Erongo Region.
The transaction gives Arkle control of four exclusive prospecting licences in the Erongo Region, one of the world’s most established uranium provinces, hosting major deposits such as Trekkopje, Rössing and Marenica.
The acquired licences are directly adjacent to these large-scale uranium operations, placing Arkle’s new asset base within a proven geological corridor that has supported uranium production for decades.
Namibia Uranium has already completed significant early-stage technical work. Recent processing and interpretation of regional airborne radiometric data identified strong uranium anomalies across all four licences. Follow-up surface sampling completed in 2025 confirmed uranium mineralisation at surface, with values of up to 3,855 parts per million U₃O₈.
Sampling on EPLs 8995 and 8290 confirmed calcrete-hosted uranium mineralisation, returning values of up to 2,782 ppm U₃O₈, while alaskite samples returned grades as high as 3,855 ppm U₃O₈. On EPL 7986, which lies on the same domal structure as the Rössing mine, multiple samples returned uranium values ranging between 500 and 2,923 ppm U₃O₈.
Arkle said the results support the presence of shallow uranium mineralisation typical of the Trekkopje–Marenica district, where uranium commonly occurs at or near the surface within calcrete systems.
Proceeds from the fundraiser will be used to pay an initial cash consideration of £375,000 (about N$9 million) to the vendors and to fund a two-phase exploration programme scheduled for 2026. Phase 1 work will focus on priority licences and include airborne radiometric and magnetic surveys, horizontal loop electromagnetic surveys, downhole logging of historical drill holes and additional surface sampling.
Phase 2 will advance targets generated from the initial work and include up to 4,000 metres of reverse circulation drilling, detailed geological mapping, further geophysical surveys and the preparation of an updated NI 43-101 technical report.
Executive chairman John Teeling said the acquisition and financing reflected growing investor confidence in Namibia as a tier-one uranium jurisdiction and in the long-term outlook for the uranium market.
Arkle also announced management changes, appointing Rory Harding as interim chief executive officer, Robin Birchall as a non-executive director and Mark Burnett as a strategic adviser.
The company said the transaction positions Arkle as a uranium-focused platform in the London market at a time when global nuclear power expansion is driving renewed demand for secure uranium supply.
