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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
African Battery Metals Plc | LSE:ABM | London | Ordinary Share | GB00BYWJZ743 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.55 | 0.50 | 0.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPOW
Power Metal Resources PLC
07 September 2022
7 September 2022
Power Metal Resources PLC
("Power Metal" or the "Company")
Investee Update - First Class Metals PLC
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes the announcement today from First Class Metals PLC (LON:FCM) ("First Class") providing an exploration update confirming a high grade nickel sulphide discovery at Pickle Lake within the Schreiber-Hemlo region, Ontario, Canada.
This announcement and other announcements released by First Class may be viewed through the following link:
https://www.firstclassmetalsplc.com/rns-announcements
Power Metal and its wholly owned subsidiary Power Metal Resources Canada Ltd hold 18,516,097 First Class shares representing 28.19% of issued share capital (the "FCM Holding").
The FCM Holding is subject to a lock-in agreement preventing the sale of the FCM Holding until 29 July 2023 and an orderly market arrangement for 12-months thereafter until 29 July 2024.
In addition, Power Metal holds 517,705 warrants to subscribe for a further 517,705 First Class shares at an exercise price of 10p per FCM share and with an expiry date of 29 July 2023.
For further information please visit https://www.powermetalresources.com/ or contact:
Power Metal Resources plc Paul Johnson (Chief Executive Officer) +44 (0) 7766 465 617 SP Angel Corporate Finance (Nomad and Joint Broker) Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470 SI Capital Limited (Joint Broker) Nick Emerson +44 (0) 1483 413 500 First Equity Limited (Joint Broker) David Cockbill/Jason Robertson +44 (0) 20 7330 1883
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.
Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
Exploration Work Overview
Power Metal has internal exploration programmes completed or underway, with results awaited, as outlined in the table below.
Project Location Current Work Completed or Results Awaited POW Underway % Athabasca Canada 100% Ground exploration Results from ground Uranium programme underway exploration including at 3 properties. Continuing spectrometer analysis, data analysis across sampling and mapping. the property portfolio. --------- --------- ----------------------------- -------------------------- Authier Canada Earn-in Property Evaluation Update covering North to 100% Report completed. exploration plans Lithium for target areas identified during the Evaluation. --------- --------- ----------------------------- -------------------------- Molopo Botswana 53%(#) Final preparations Commencement of Farms for the launch of T1-6 drill programme, K1-6 conductor target and findings therefrom drilling and MLEM and results from surveys over T1-6, MLEM surveys. T1-14, T1-3 and T2-3 targets. --------- --------- ----------------------------- -------------------------- Tati Botswana 100% RC drilling and sampling Review of mine dumps Project of mine dumps complete. sampling and results from RC drill programme. --------- --------- ----------------------------- --------------------------
(#) subject to completion of acquisition announced 18.5.22 interest will increase to 87.71%
Exploration work programmes may also be underway within Power Metal investee companies and planned IPO vehicles where Power Metal has a material interest, the findings from which will be released on their respective websites, with simultaneous updates through Power Metal regulatory announcements where required.
These interests are summarised in the table below:
Company Status/Operations Link First Class Investment - www.firstclassmetalsplc.com Metals PLC POW 28.19% Exploration in the Schreiber-Hemlo region of Ontario, Canada ------------------------ ------------------------------------------------------------------ First Development Planned IPO www.firstdevelopmentresources.com Resources - POW 62.12% PLC Exploration in Western Australia and the Northern Territory of Australia ------------------------ ------------------------------------------------------------------ Golden Planned IPO www.goldenmetalresources.com Metal Resources - POW 83.13% PLC Exploration and development in Nevada, USA ------------------------ ------------------------------------------------------------------ Kavango Investment - www.kavangoresources.com Resources POW 14.03% (subject PLC to completion of Kanye Resources disposal announced 8.7.22) Exploration in Botswana ------------------------ ------------------------------------------------------------------ New Ballarat Planned IPO A new website is currently in development Gold PLC - POW 49.9% which will be found at www.newballaratgoldcorp.com Exploration . in the Victoria In the interim further information Goldfields of in respect of NBGC can be found at: Australia https://www.powermetalresources.com/project/victoria-goldfields/ . ------------------------ ------------------------------------------------------------------
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END
NRAUBRORUNUKRAR
(END) Dow Jones Newswires
September 07, 2022 09:09 ET (13:09 GMT)
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