Interim Results

Arkle Resources PLC

16 September 2026

 

16 September 2026

Arkle Resources PLC

("Arkle" or the "Company")

Interim Results for the six months ended 30 June 2026

Arkle Resources PLC (AIM: ARK), the energy metals explorer primarily focused on uranium, is pleased to announce its unaudited Interim Results for the six months ended 30 June 2026 (the "Period").

Highlights - Uranium in Namibia

·    Transformational acquisition of an 85% interest in Namibia Uranium (Pty) Ltd completed in January 2026, introducing four Exclusive Prospecting Licences covering 540 km² in the corridor of Namibia's Erongo uranium province that hosts the Rössing, Trekkopje and Marenica deposits, funded by an oversubscribed £1.7 million placing and subscription.

·   Phase 1 exploration completed ahead of schedule: airborne and ground geophysics, downhole logging of legacy drillholes and trenching defined drill targets in two mineralisation styles, palaeochannel-hosted and uraniferous leucogranite ("ULG").

·     Maiden RC drilling programme on EPL 8995 brought forward, with the rig mobilised to site on 29 June 2026.

·    Post period end: completion of the maiden drilling programme with around 2,900 metres drilled, identifying an extensive uranium system at the ULG target - the same deposit style as Erongo's major deposits. Assay results from drilling expected later this month.

Highlights - Zinc in Ireland

·    Post period end, Group Eleven Resources (TSX-V: ZNG) expanded its planned drilling at the Stonepark Zinc Project to approximately 15,500 metres (at no cash cost to Arkle), and identified a new and robust zone of zinc-lead mineralisation which is regarded as the most significant result since 2017.

Highlights - Corporate

·    Leadership and advisory team strengthened: Rory Harding appointed Chief Executive Officer and Robin Birchall Non-Executive Director; Strand Hanson appointed Nominated and Financial Adviser and H&P Advisory (Hannam & Partners) joint broker alongside First Equity.

·    Loss for the Period of €947,000 (six months ended 30 June 2025: €116,000), including a €455,000 non-cash share option charge.

·    Cash of €1,069,000 at 30 June 2026, and current cash of c.€650,000, which is more than sufficient for the current planned exploration programmes.

Rory Harding, Chief Executive Officer, commented:

"With the maiden drilling programme in Namibia completed well ahead of schedule, and an extensive ULG style uranium system emerging, the immediate focus is on the assay results: the trench sampling results were announced on 14 September 2026 and the drilling results are expected within the next 20 days. Those results will shape the next phase of work on the Erongo licences, alongside further geophysics, mapping and sampling across EPLs 8290, 8298 and 8995 to develop the next generation of targets. At Stonepark, Group Eleven's expanded programme will continue at no cash cost to Arkle, and in Botswana completion of the Environmental Impact Assessment will clear the way for first drilling when the Company's priorities allow. With its current work programmes fully funded and a strengthened team, Arkle is well placed to deliver steady news flow for the remainder of the year."

Enquiries:

Arkle Resources Rory Harding, CEO John Teeling, Chairman	[phone] [phone]
Strand Hanson Limited Ritchie Balmer / Imogen Ellis	Nominated & Financial Adviser [phone]
H&P Advisory Limited Andrew Chubb / Leif Powis	Joint Broker [phone]
First Equity Limited Jason Robertson	Joint Broker [phone]
Vigo Consulting Ben Simons / George Pope	UK Media & IR [phone] [e-mail]
Teneo Luke Hogg / Molly Mooney	Ireland Media [phone]

Competent Person Statement

The technical and scientific information contained in this announcement relating to the Erongo Uranium Project has been reviewed and approved by Dr Guy Freemantle, an independent consultant to the Company through The MSA Group (Pty) Ltd., Johannesburg, South Africa. Dr Freemantle holds a Bachelor of Science in Geology and a PhD in Geology, both from the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905) and current Vice President for the Africa Region; a Fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (Registration 117527). Dr Freemantle has practised his profession continuously for 16 years and has sufficient experience and knowledge that is relevant to the style of mineralisation and type of deposits under consideration as well as to the activity that is being undertaken to fulfil the requirements of a Qualified Person as per NI 43-101 / PERC Reporting Standard (2021). Dr Freemantle consents to the inclusion in this announcement of the technical and scientific information in the form and context in which it appears.

The information relating to the Stonepark Zinc Project is derived from announcements made by Group Eleven Resources Corp., the operator of the project, and from the Company's announcements of 13 March, 16 April and 23 July 2026.

Glossary

EPL: Exclusive Prospecting Licence. eU₃O₈: equivalent uranium oxide estimated from downhole radiometric measurement, subject to confirmation by laboratory assay. GRS: gamma ray spectrometer. HLEM: horizontal loop electromagnetic survey. ppm: parts per million. RC: reverse circulation drilling. ULG: uraniferous leucogranite.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

About Arkle Resources

Arkle Resources PLC (AIM: ARK) is a multi-commodity exploration company focused on metals which are essential for the generation and storage of clean energy: uranium, lithium and zinc. Its projects are in tier-1 mining jurisdictions in Namibia, Botswana and Ireland, adjacent to world-class deposits.

Founded in 2004 by John Teeling and Jim Finn, the Company co-discovered the Stonepark zinc deposit in County Limerick, now Ireland's second largest undeveloped resource, in joint venture with Teck Ireland. Teck's interest was acquired by Group Eleven Resources (TSX-V: ZNG), who continue to advance the project alongside Arkle.

In January 2026, the Company announced a transformative deal to acquire Namibia Uranium Pty Ltd, which has introduced four highly prospective uranium licences contiguous to major producing and development assets in what is a world-class uranium jurisdiction. This acquisition, alongside the Company's existing licence portfolio and the introduction of new management, repositions Arkle to become a leading explorer in energy metals.

For more information visit: www.arkleresources.com

Follow us on social media:

www.x.com/ArkleResources

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CHAIRMAN'S STATEMENT

Arkle is now a uranium focused company. In January we completed the acquisition of an 85% interest in Namibia Uranium, which brought four licences covering 540 square kilometres of the Erongo uranium province into the Company. Six months later and we have flown the geophysics, logged the old drill holes, dug the trenches and put a drill rig on the ground, three months earlier than we had planned. That is a good half year's work for a small company.

The lifeblood of a mineral exploration company is exploration, and in the first half of 2026 we did a great deal of it. We mapped the buried river channels of the kind that host the uranium at Trekkopje next door, logged the old drill holes and trenched the granite target. Each step confirmed that uranium is present in both of the settings we are looking for. Remember, our ground lies in the corridor that hosts Rössing, Trekkopje and Marenica, and is adjacent to Trekkopje. The uranium has been proven to be there. Our job is to find enough of it in one place.

Why uranium? Nuclear power is back in favour, and this time it is driven by need rather than by fashion. Governments want secure, reliable, low carbon electricity. Data centres want power that runs all day and all night. Reactors that were due to close are being kept open and new ones are being built, particularly in Asia. Supply has not kept up, because years of low prices starved the industry of exploration and of new mines. Namibia is the world's third largest producer, with nearly fifty years of production behind it. It is the natural place to look.

At Stonepark in Limerick, our partner Group Eleven Resources (TSX-V: ZNG) has become very active, expanding its planned drilling in the area to some 15,500 metres. We decided not to fund our share of the phase that began in April, preserving capital to be spent in Namibia. We keep the right to come back in on later phases, so our interest will only marginally dilute, to an estimated 21.38% meaning we retain significant upside exposure. The first results came after the half year end and are covered in the post balance sheet events. It was Arkle, then called Connemara Mining, that drilled out Stonepark with Teck to over five million tonnes. Stonepark remains a seriously interesting prospect and one that the Company has optionality over funding commitment.

In Botswana, we hold three lithium brine licences covering 1,612 square kilometres of the Makgadikgadi salt pans. Little was spent there in the half year beyond progressing the environmental permitting needed to drill. The ground costs little to hold, and it can wait its turn behind Namibia.

We raised £1.7 million in January at 0.4p in a placing that was heavily oversubscribed to support the acquisition of Namibia Uranium, and warrant holders have since put in a further £433,000. Warrants being exercised is the best kind of equity fundraising: no discount, no fees, and shareholders voting with their own money. The Directors have done the same, in the placing and in exercising warrants. We have skin in the game, and the Company is funded for its current programmes through the second half of the year.

We have strengthened the team. Rory Harding joined us as Interim Chief Executive Officer in January and is now Chief Executive Officer, Robin Birchall joined the Board as a Non-Executive Director, and we have a new Nominated Adviser in Strand Hanson and a second broker in Hannam & Partners. These are the building blocks of a bigger resources company.

Shareholders know that I am an optimist. You have to be in this business. The drill rig arrived on site in Namibia at the end of June, and the assay results from the trenching and drilling are now coming through. There will be a steady flow of news through the rest of the year. This Company co-discovered the Stonepark zinc deposit. Our aim now is to add a uranium discovery to that record. I thank our shareholders, old and new, for backing us.

John Teeling

Chairman

15 September 2026

OPERATIONAL REVIEW

The first half of 2026 was a period of transformation for Arkle. The Company completed the acquisition of its Namibian uranium portfolio in January, moved directly into a fully funded Phase 1 exploration programme and, by the end of the Period, had a drill rig mobilised on EPL 8995. This review covers the Company's activities during the Period.

Namibia: Erongo Uranium Project (85%)

On 29 January 2026, the Company acquired an 85% interest in Namibia Uranium (Pty) Ltd, the holder of four Exclusive Prospecting Licences (EPLs 8995, 8290, 8298 and 7986) covering 540 km² in the Erongo Region of Namibia, in the corridor hosting the Rössing, Trekkopje and Marenica deposits and adjacent to Trekkopje. The consideration and its funding are set out in Notes 4 and 5. Historical work on the licences had identified both calcrete-hosted and granite-hosted uranium, and the Company moved directly into a Phase 1 programme to define drill targets in both settings.

Phase 1 fieldwork began in February 2026, ahead of schedule, with an airborne radiometric and magnetic survey over all four licences and ground electromagnetic profiling on EPL 8995, which confirmed a well-developed palaeochannel in the north-east of the licence and identified a second channel in the centre. The interpretation, announced on 22 May 2026, defined targets across the three northern licences in two mineralisation styles: palaeochannel-hosted uranium, analogous to the Trekkopje and Marenica deposits, and uranium hosted in uraniferous leucogranite ("ULG"), the style mined at Rössing and Husab. The Eastern EPL 8995 palaeochannel target was declared drill-ready and drilling was brought forward from the second half of the year to June, while a ULG target of approximately 1 km by 700 m on EPL 8995 was selected for trenching ahead of drilling.

In June, downhole gamma ray logging of 106 legacy drillholes on EPLs 8995 and 8298 confirmed uranium mineralisation in the palaeochannel setting, with 16 holes returning intercepts above 50 ppm eU₃O₈ over one metre or more, and seven trenches across the ULG target exposed stacked uraniferous leucogranite sheets, from which 62 samples were submitted for assay. The rig for the maiden RC drilling programme on the palaeochannel targets of EPL 8995 was mobilised to site on 29 June 2026.

Ireland: Stonepark Zinc Project (22.36%)

The Stonepark Zinc Project in County Limerick, which hosts an Inferred Mineral Resource of 5.1 million tonnes at 11.3% Zn+Pb, is held through TILZ Minerals Limited and operated by Group Eleven Resources Corp. (TSX-V: ZNG). In March 2026, Group Eleven announced plans to expand drilling in the Stonepark area to approximately 15,500 metres and in April mobilised a rig for a four hole, 2,700 metre programme. Having regard to its priorities in Namibia, Arkle elected not to fund its share of this phase. Its interest, 22.36% at the Period end, is expected to dilute to an estimated 21.38% on completion of the programme, and Arkle retains the right to participate in subsequent phases. Results from the programme were announced after the Period end.

Botswana: Makgadikgadi Lithium Brine Project (100%)

The Company holds three prospecting licences covering 1,612 km² of the Makgadikgadi Salt Pans in north-eastern Botswana, where earlier geophysics and sampling have identified a shallow brine system carrying lithium across all three licences. No field activity was undertaken during the Period; work was limited to progressing the Environmental Impact Assessment required before drilling, which is targeted for completion during 2026. The licences are held at low cost, and a first pass drilling programme will follow once environmental clearance has been received and as the Company's priorities in Namibia allow.

Other Licences

The Company's four licences at Aughrim in County Wicklow are being reassessed for their tungsten potential, options for the Meeneragh licence in County Donegal remain under review, and the carrying value of the small Zimbabwe lithium licences was written off during the Period.

Corporate

Board and management

Rory Harding was appointed Interim Chief Executive Officer in January 2026 and has since been confirmed as Chief Executive Officer, and Robin Birchall joined the Board as a Non-Executive Director. Mark Burnett was appointed Strategic Adviser, Chris Healey Chief Geologist, and Aron Haludilu leads the Company's activities in Namibia as Country Manager. The MSA Group provides the Qualified Person for the Namibia project.

Advisers

Strand Hanson Limited was appointed Nominated and Financial Adviser in April 2026, and H&P Advisory Limited (Hannam & Partners) was appointed joint broker in June 2026 alongside First Equity Limited.

Share capital

The Namibia Uranium acquisition was funded by a significantly oversubscribed placing and subscription which raised £1.7 million through the issue of 425,000,000 new ordinary shares at 0.4p per share, in which the Chairman and Non-Executive Director David Cockbill participated; 305,000,000 consideration shares and 7,500,000 adviser shares were also issued (Note 5). Warrants over 126,333,333 ordinary shares were exercised during the Period, raising £433,000, including 16,000,000 exercised by Directors, and David Cockbill added to his holding in April. On 2 April 2026 the Company granted 130,000,000 share options at 0.95p per share, replacing all options previously held by directors and management (Note 6). At 30 June 2026 there were 1,595,310,997 ordinary shares in issue (31 December 2025: 731,477,664).

Financial position

The loss for the Period was €946,792 (six months ended 30 June 2025: €115,824), reflecting the Company's greater scale of activity following the acquisition, a non-cash charge of €455,085 for the share options granted in April and the write off of the Zimbabwe licences, partly offset by a non-cash gain of €143,721 on the exercise of warrants. Payments for exploration and evaluation totalled €1,590,000, focused on Namibia. Cash at 30 June 2026 was €1,069,297 (31 December 2025: €297,979) and net assets were €5,436,228 (31 December 2025: €2,021,651). The Company is fully funded for its current exploration programmes through the second half of 2026.

Outlook

With the maiden drilling programme in Namibia completed well ahead of schedule, and an extensive ULG style uranium system emerging, the immediate focus is on the assay results: the trench sampling results were announced on 14 September 2026 and the drilling results are expected within the next 20 days. Those results will shape the next phase of work on the Erongo licences, alongside further geophysics, mapping and sampling across EPLs 8290, 8298 and 8995 to develop the next generation of targets. At Stonepark, Group Eleven's expanded programme will continue at no cash cost to Arkle, and in Botswana completion of the Environmental Impact Assessment will clear the way for first drilling when the Company's priorities allow. With its current work programmes fully funded and a strengthened team, Arkle is well placed to deliver steady news flow for the remainder of the year.

Rory Harding

CEO

15 September 2026

Arkle Resources plc
Financial Information (Unaudited)
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
				Six Months Ended				Year Ended
				30 June 26		30 June 25		31 Dec 25
				unaudited		unaudited		audited
				€'000		€'000		€'000
Administrative expenses				(606)		(122)		(225)
Share options valuations				(455)		-		-
Impairment of exploration and evaluation assets				(30)		-		-
LOSS FROM OPERATIONS				(1,091)		(122)		(225)
Profit/(Loss) due to fair value volatility of warrants				144		6		(273)
LOSS BEFORE TAXATION				(947)		(116)		(498)
Income tax expense				-		-		-
LOSS FOR THE PERIOD AND TOTAL COMPREHENSIVE INCOME				(947)		(116)		(498)
LOSS PER SHARE - basic and diluted				(0.07) c		(0.02) c		(0.08) c
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
				30 June 26		30 June 25		31 Dec 25
				unaudited		unaudited		audited
				€'000		€'000		€'000
NON-CURRENT ASSETS
Intangible Assets				5,498		2,570		2,530
CURRENT ASSETS
Other receivables				21		2		4
Cash and cash equivalents				1,069		3		298
				1,090		5		302
TOTAL ASSETS				6,588		2,575		2,832
LIABILITIES
CURRENT LIABILITIES
Trade and other payables				(886)		(578)		(400)
Warrants				(266)		(131)		(410)
				(1,152)		(709)		(810)
NET CURRENT LIABILITIES				(62)		(704)		(508)
NET ASSETS				5,436		1,866		2,022
EQUITY
Share Capital - Deferred Shares				992		992		992
Share Capital - Ordinary Shares				3,988		1,412		1,829
Share Premium				8,972		7,064		7,225
Share based payments reserve				571		156		116
Retained deficit				(9,087)		(7,758)		(8,140)
TOTAL EQUITY				5,436		1,866		2,022
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
	Called-up	Called-up
	Share	Share			Share
	Capital	Capital	Share		Based		Retained
	Deferred	Ordinary	Premium		Reserves		Deficit		Total
	€'000	€'000	€'000		€'000		€'000		€'000
As at 1 January 2025	992	1,412	7,064		156		(7,642)		1,982
Profit for the period	-	-	-		-		(116)		(116)
As at 30 June 2025	992	1,412	7,064		156		(7,758)		1,866
Shares issued		417	161						578
Share options expired	-				(40)		-		(40)
Loss for the period	-	-	-		-		(382)		(382)
As at 31 December 2025	992	1,829	7,225		116		(8,140)		2,022
Shares issued		2,159	1,747						3,906
Share options cancelled	-				(116)		-		(116)
Share options issued					571				571
Loss for the period	-	-	-		-		(947)		(947)
As at 30 June 2026	992	3,988	8,972		571		(9,087)		5,436

CONDENSED STATEMENT OF CASH FLOWS
	Six Months Ended		Year Ended
	30 June 26	30 June 25	31 Dec 25
	unaudited	unaudited	audited
	€'000	€'000	€'000
CASH FLOW FROM OPERATING ACTIVITIES
Loss for the year	(947)	(116)	(498)
Impairment	30	-	-
Share options	455	-	(40)
Fair value movement of warrants	(144)	(6)	273
Foreign exchange	(10)	-	4
	(616)	(122)	(261)
(Increase)/Decrease in trade and other receivables	(17)	(2)	(4)
Increase in trade and other payables	486	100	26
NET CASH USED IN OPERATING ACTIVITIES	(147)	(24)	(239)
CASH FLOW FROM INVESTING ACTIVITIES
Payments for exploration and evaluation	(1,590)	-	(64)
NET CASH USED IN INVESTING ACTIVITIES	(1,590)	-	(64)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of equity shares	2,498	-	578
NET CASH FROM FINANCING ACTIVITIES	2,498	-	578
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	761	(24)	275
Cash and Cash Equivalents at beginning of the period	298	27	27
Effects of exchange rate changes on cash held in foreign currencies	10	-	(4)
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	1,069	3	298

Notes:

1.            INFORMATION

The financial information for the six months ended 30 June 2026 and the comparative amounts for the six months ended 30 June 2025 are unaudited. The interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union. The interim financial statements have been prepared applying the accounting policies and methods of computation used in the preparation of the published consolidated financial statements for the year ended 31 December 2025.

The interim financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with the audited consolidated financial statements of the Group for the year ended 31 December 2025, which are available on the Company's website www.arkleresources.com   

The interim financial statements have not been audited or reviewed by the auditors of the Group pursuant to the Auditing Practices board guidance on Review of Interim Financial Information.

2.            No dividend is proposed in respect of the period.

3.            EARNINGS PER SHARE

Basic earnings per share is computed by dividing the loss after taxation for the year attributable to ordinary shareholders by the weighted average number of ordinary shares in issue and ranking for dividend during the year. Diluted earnings per share is computed by dividing the loss after taxation for the year by the weighted average number of ordinary shares in issue, adjusted for the effect of all dilutive potential ordinary shares that were outstanding during the year.

The following table sets out the computation for basic and diluted earnings per share (EPS):

	30 June 26	30 June 25	31 Dec 25
Profit/(loss) per share - Basic and Diluted	(0.07) c	(0.02) c	(0.08) c
Basic profit/(loss) per share
The earnings and weighted average number of ordinary shares used in the calculation of basic loss per share are as follows:
Numerator	€'000	€'000	€'000
Loss after taxation	(947)	(116)	(498)
Denominator	Number	Number	Number
Weighted average number of ordinary shares	1,398,893,870	564,810,997	634,674,011

Basic and diluted loss per share are the same as the effect of the outstanding share options is anti-dilutive.

4.            INTANGIBLE ASSETS

	30 June 26	30 June 25	31 Dec 25
Exploration and evaluation assets:	€'000	€'000	€'000
Cost:
At 1 January	4,300	4,340	4,340
Additions	2,998	-	72
Re-imbursement of costs	-	-	(8)
Dilution	-	-	(104)
	7,298	4,340	4,300
Impairment:
At 1 January	1,770	1,770	1,770
Impairment	30	-	-
	1,800	1,770	1,770
Carrying Value:
At 1 January	2,530	2,570	2,570
At period end	5,498	2,570	2,530
Segmental analysis	30 June 26	30 June 25	31 Dec 25
	€'000	€'000	€'000
Limerick	1,728	1,802	1,728
Rest of Ireland	692	673	681
Namibia	2,987	-	-
Botswana	91	66	91
Zimbabwe	-	29	30
	5,498	2,570	2,530

The Group holds a 22.36% interest in the Stonepark zinc-lead project through shares in TILZ Minerals Limited, alongside the project operator Group Eleven Resources Corp. who hold the remaining balance of 77.64%.

The company's share of expenditure on the licences continues to be capitalised as an exploration and evaluation asset. The company is subject to cash calls from Group Eleven Resources Corp. in respect of the financing of the ongoing exploration and evaluation of these licences. In the event that these cash calls cannot be met their interest in TILZ Minerals Limited may be diluted accordingly.

The Company holds 100% of five prospecting licences in Ireland, one for gold exploration in Donegal and four for lithium in Aughrim. The Company also holds 100% of three Prospecting Licences for lithium in the Makgadikgadi Salt Pans in North-Eastern Botswana. 

Due to no expenditure being incurred in the current period in Zimbabwe the Directors decided to impair the expenditure incurred to date. Accordingly, an impairment charge of €29,789 was recorded in the current period.

On 29 January 2026 the Company announced the acquisition of an 85% interest in Namibia Uranium Pty Ltd for a total consideration of £2,032,000, payable through a combination of cash and new ordinary shares

Namibia Uranium holds four Exclusive Prospecting Licences ("EPLs") in the Erongo Region of Namibia · EPLs are adjacent to three major uranium deposits, Trekkopje, Marenica and Rossing

The Consideration for the Acquisition was 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:                

£375,000 payable on completion of the transaction

£242,000 payable on or before 31 December 2026

£195,000 payable on or before 31 December 2027

The Consideration Shares are 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.

The realisation of the intangible assets is dependent on the discovery and successful development of economic reserves which is subject to a number of risks as outlined below. Should this prove unsuccessful the carrying value included in the balance sheet would be written off to the statement of comprehensive income.

               The group's activities are subject to a number of significant potential risks including;

               - Uncertainties over development and operational risks;

               - Compliance with licence obligations;

               - Ability to raise finance to develop assets;

               - Liquidity risks; and

               - Going concern risks.

The directors are aware that by its nature there is an inherent uncertainty in such exploration and evaluation expenditure as to the value of the asset. Having reviewed the carrying value of exploration and evaluation of assets at 30 June 2026, the directors are satisfied that the value of the intangible asset is not less than carrying value.

5.            SHARE CAPITAL AND SHARE PREMIUM

		2026 €'000	2025 €'000
Authorised
2,000,000,000 Ordinary shares of 0.25c each		5,500	5,000
500,000,000 Deferred shares of 0.75c each		3,750	3,750
		8,750	8,750
	Number	Share Capital €'000	Share Premium €'000
Deferred Shares - nominal value of 0.75c	132,311,593	992	-
Ordinary Shares - nominal value of 0.25c	Number	Share Capital €'000	Share Premium €'000
Allotted, Called Up and Fully Paid:
Balance at 1 January 2025	564,810,977	1,412	7,064
Issued during the period	-	-	-
Balance at 30 June 2025	564,810,977	1,412	7,064
Issued during the period	166,666,667	417	161
Balance at 31 December 2025	731,477,664	1,829	7,225
Issued during the period	863,833,333	2,159	1,747
Balance at 30 June 2026	1,595,310,997	3,988	8,972

               Movement in shares

On 29 January 2026 the Company completed a placing and subscription to raise £1,700,000 through the issue of 425,000,000 ordinary shares of at price of 0.4p per ordinary share. 

As part of the acquisition of Namibia Uranium (Pty) Ltd 305,000,000 shares at a price of 0.4p per ordinary share (£1,220,000) were issued as consideration shares and 7,500,000 shares (£30,000) were issued to an adviser in connection with the acquisition.  Further information is detailed in Note 4 above.

During the period February 2026 to May 2026 a total of 108,000,000 warrants were exercised at a price of 0.35p for £378,000.

During the period March 2026 to June 2026 a total of 18,333,333 warrants were exercised at a price of 0.30p for £55,000.

6.    SHARE BASED PAYMENTS - OPTIONS

Equity-settled share-based payments are measured at fair value at the date of grant.

	30 Jun 26	Weighted average exercise price in pence	30 Jun25	Weighted average exercise price in pence	31 Dec 25	Weighted average exercise price in pence
	'000		'000		'000
Outstanding at beginning of period	13,600	1.32	16,100	1.32	16,100	1.32
Granted during the period	130,000	0.95	-	-	-	-
Expired during the period	(13,600)	1.32	-	-	(2,500)	-
Outstanding at end of period	16,100	0.95	16,100	1.32	13,600	1.32
Exercisable at end of period	130,000	0.95	16,100	1.32	13,600	1.32

On 2 April 2026 the Company granted of share options over 130,000,000 Ordinary Shares to certain key employees, advisers, consultants and directors, with an exercise price of 0.95 pence, approximately a 65% premium to the Company's closing share price on 1 April 2026, (the "Options"), to incentivise long-term growth reflected in the Company's valuation. The Options vest immediately and are valid for a period of five years. The vesting criteria require the recipient to remain engaged by the Company at the time of exercise. The fair value of €570,933 for the share options was expensed to the Consolidated Statement of Comprehensive Income.  The fair value was calculated using the Black-Scholes valuation model.

The inputs into the Black-Scholes valuation model were as follows:

Grant 2 April 2026
Weighted average share price at date of grant (in pence)	0.95p
Weighted average exercise price (in pence)	0.575p
Expected volatility	95.57%
Expected life	5 years
Risk free rate	3.440%
Expected dividends	none

Expected volatility was determined by management based on their cumulative experience of the movement in share prices.

The terms of the options granted do not contain any market conditions within the meaning of IFRS 2.

These new Options replace all options previously held by directors and management amounting to 13,600,000 which have been cancelled. The fair value of €115,848 for the cancelled share options was expensed to the Consolidated Statement of Comprehensive Income

7.    SHARE BASED PAYMENTS - WARRANTS

Number

	30 June 26	30 June 25	31 Dec 25
	'000	'000	'000
Outstanding at beginning of period	274,667	169,429	169,429
Issued during the period	-	-	166,667
Exercised during the period	(126,333)
Expired during the period	-	-	(61,429)
Closing Balance	148,334	169,429	274,667

Fair Value

	30 June 26	30 June 25	31 Dec 25
	€'000	€'000	€'000
At beginning of period	410	137	137
FV of warrants issued during the period	-	-	298
Exercised during the period	(144)		-
FV of warrants expired during the period	-		(26)
Movement in fair value	-	(6)	1
Closing Balance	266	159	410

	30 June 26 €'000	30 June 25 €'000	31 Dec 25 €'000
Profit/(Loss) due to Fair Value Volatility of Warrants
Fair Value movement on warrants brought forward	-	6	(1)
Fair value of warrants exercised	144
Fair value of warrants expired	-	-	26
Fair value of new warrants granted	-	-	(298)
Movement for the period	144	6	(273)

During the six months ended 30 June 2026 a total of 108,000,000 warrants were exercised at a price of 0.35p for £378,000 and a total of 18,333,333 warrants were exercised at a price of 0.30p. 

Further information is detailed in Note 5 above.

8.    TRADE AND OTHER PAYABLES

	30 June 2026 €'000	30 June 2025 €'000	31 Dec 25 €'000
Current assets:
Trade and other payables	163	237	27
Accruals	216	341	373
Deferred cash consideration	507	-	-
	886	578	400

It is the Group's normal practice to agree terms of transactions, including payment terms, with suppliers and provided suppliers perform in accordance with the agreed terms, it is the Group's policy that payment is made between 30 - 45 days. Included in accruals are amounts due for directors' remuneration of €203,141 (YE 2025: €352,500) accrued but not paid at period end.

As part of the acquisition of an 85% interest in Namibia Uranium Pty Ltd a total cash consideration of £437,000 was deferred as follows: £242,000 payable on or before 31 December 2026 and £195,000 payable on or before 31 December 2027.  Further information is detailed in Note 4 above.

The carrying value of trade and other payables approximates to their fair value.

9.    POST BALANCE SHEET EVENTS

On 9 September 2026, the Company announced that, pursuant to the receipt of warrant conversion notices, it had raised £105,000 from the issue of 35,000,009 shares of €0.0025 each.

10.  The Interim Report for the six months to 30 June 2026 was approved by the Directors on 15 September 2026

11.  The Interim Report will be available on Arkle Resources PLC's website www.arkleresources.com.

 

END