Metals and Mining
Company Overview of ARK Mines Limited
Ark Mines Ltd engages in the exploration and evaluation of mineral properties in Australia. The company explores for gold, silver, lead, copper, zinc, base metals, and rare earth elements. It primarily holds interests in the Mt Porter and Frances Creek projects located in the Northern Territory; and the Babinda tenements located in the Lachlan Fold Belt, New South Wales. The company is headquartered in Sydney, Australia.
37 Bligh Street
Sydney, NSW 2000
Key Executives for ARK Mines Limited
Managing Director and Executive Director
Total Annual Compensation: A$205.3K
Compensation as of Fiscal Year 2016.
ARK Mines Limited Key Developments
ARK Mines Limited Reports Earnings Results for the Year Ended June 30, 2016
Sep 30 16
ARK Mines Limited reported earnings results for the year ended June 30, 2016. For the year, the company reported interest income of AUD 964 compared to AUD 2,511 a year ago. Loss from operating activities was AUD 679,701 compared to AUD 943,815 a year ago. Loss before income tax was AUD 730,506 compared to AUD 946,533 a year ago. Loss from continuing operations after income tax was AUD 730,506 compared to AUD 946,533 a year ago. Total comprehensive loss was AUD 730,506 compared to AUD 946,533 a year ago. Basic and diluted loss per share was 1.80 cents compared to 2.50 cents a year ago. Net cash used in operating activities was AUD 267,514 compared to AUD 196,523 a year ago. Payment for exploration and evaluation expenditure was AUD 815,675 compared to AUD 297,822 a year ago. Payment for plant and equipment was AUD 18,930.
Ark Mines Limited Announces New Mt. Porter Gold Mining Targets
Jul 18 16
Ark Mines Ltd. announced two new potential gold mining sources within 400m north and south of its near to production, Mt Porter gold mine. From desktop and field studies, AHK has recognised two sites within ML23839, which have strong gold drill intercepts and sit along strike from Mt. Porter on the Mt. Porter Anticline. The zones have been named Mt. Porter North and Mt. Porter South. The similarities between the two new zones and the existing Mt. Porter resource suggest there may be potential for developing a similar resource for the north and the south. Geological mapping has shown the Mt. Porter anticline to be a moderately tight anticline. The axis strikes N - NNW and the plunge is to the north. The anticline is disrupted by numerous N-NW striking faults with displacements of 10s of metres. Mt. Porter North Highlights: High grade drill intercepts; West limb exposed at surface; 350m north of Mt. Porter; 4m @ 43.05 g/t Au (1.55m @ 43.05 g/t Au True Thickness); 8m @ 8.38 g/t Au (7.4m @ 8.38 g/t Au True Thickness); 2m @ 5.2 g/t Au (2.01m @ 5.2 g/t Au True Thickness); 10m @ 1.56 g/t Au (9.89 @ 1.56 g/t Au True Thickness); Stong Au soil geochemical anomaly; and Strong As soil geochemical anomaly. Mt. Porter South Highlights: Lower grade 9 -10m thick mineralised zone; 400m south of Mt. Porter; 10m @1.15 g/t Au (9.82 @ 1.15 g/t Au true thickness); 9m @ 1.55 g/t Au (8.83 @1.55g/t Au true thickness); 19 out of 61 drill holes and 5 out of t6 trenches had significant intersections of gold; mineralization (>1m @1 g/t Au); Stong Au soil geochemical anomaly; and Strong As soil geochemical anomaly.
ARK Mines Limited Announces Earnings Results for the Half Year Ended December 31, 2015
Mar 15 16
ARK Mines Limited announced earnings results for the half year ended December 31, 2015. For the half year, the company reported interest income of AUD 299 compared to AUD 2,004 a year ago. Loss from operating activities was AUD 183,448 compared to AUD 749,978 a year ago. Loss before income tax was AUD 197,155 compared to AUD 749,978 a year ago. Loss from continuing operations after income tax was AUD 197,155 compared to AUD 749,978 a year ago. Total comprehensive loss for the year was AUD 197,155 compared to AUD 749,978 a year ago. Basic and diluted loss per share was 0.5 cents compared to 2.01 cents a year ago. Net cash used in operating activities was AUD 30,859 compared to AUD 87,029 a year ago. Payment for exploration and evaluation expenditure was AUD 275,690 compared to AUD 216,978 a year ago.
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