Arkle Resources reported wider annual losses on higher costs amid an increase in exploration activities.

For the year ending 31 December 2018, pre-tax losses widened to £337,306 from £214, 331.

'In the near future we expect results from the ongoing work on the gold licences in Wicklow. We anticipate new drilling targets will be identified in and around our existing discoveries at Tombreen and Knocknalourm; the company said.

'At present, the principal concern for the board of Arkle is the low share price giving the Company a current market capitalisation of just above £1 million which we believe significantly undervalues the potential of our exploration portfolio.'

At 8:51am: (LON:ARK) share price was 0p at 0.9p