Power Metal Resources PLC Katoro Gold Update (0467D)

TIDMPOW

RNS Number : 0467D

Power Metal Resources PLC

14 February 2020

14 February 2020

Power Metal Resources plc ("POW" or the "Company")

Katoro Gold Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to draw investors' attention to the announcement issued today by Katoro Gold plc (LON: KAT)("Katoro Gold" or "Katoro").

The announcement may be viewed through the following link:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/xon872w

Power Metal Resources holds 10,000,000 Katoro shares which represents 5.57% of Katoro Gold's issued share capital. In addition, POW also holds 10,000,000 warrants in Katoro Gold exercisable at 1.25p (2,500,000 warrants expiring on 15 March 2022 and 7,500,000 warrants expiring on 15 May 2022).

POW also has a 25% interest in Katoro's Haneti polymetallic project in Tanzania, with a right to increase its interest to 35% by a payment to Katoro of GBP25,000 in cash by 15 May 2020.

For further information please visit https://www.powermetalresources.com/ or contact:

 
Power Metal Resources plc 
Paul Johnson (Chief Executive Officer)                [phone] 
 
SP Angel Corporate Finance (Nomad and Joint Broker) 
Ewan Leggat                                           [phone] 
 
SI Capital Limited (Joint Broker) 
Nick Emerson                                          [phone] 
 
First Equity Limited (Joint Broker) 
David Cockbill/Jason Robertson                        [phone] 
 
 
 
 

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company exploring for the key metals used in power generation, transmission, storage and utilisation. The Board and team of advisors, who have proven expertise in exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the power metal commodity suite, particularly cobalt, lithium, copper and nickel.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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February 14, 2020 03:42 ET (08:42 GMT)