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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
22 July 2022
22 July 2022
Power Metal Resources plc ("Power Metal" or the "Company")
United Kingdom Government Releases the 'UK's Critical Minerals Strategy' Policy Paper
Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes the publication today by the United Kingdom's Department for Business, Energy & Industrial Strategy (the "Government") released a policy paper entitled "Resilience for the future: The UK's critical minerals strategy" ("Policy Paper") which may be viewed below through the following link:
https://www.gov.uk/government/publications/uk-critical-mineral-strategy/resilience-for-the-future-the-uks-critical-minerals-strategy
The Policy Paper sets out the Government's strategy and outlines a number of objectives (pages 4-5) as well as a new approach towards critical minerals supply chains of which the following are particularly notable from the Company's perspective:
- Champion London as the world's capital of responsible finance for critical minerals (further information page 30 of the Policy Paper).
- Support UK companies to participate overseas in diversified responsible and transparent supply chains (page 22).
- Boost global environmental, social and governance performance ("ESG"), reducing vulnerability to disruption and levelling the playing field for responsible businesses (page 26).
- A cohort of minerals with high criticality for the UK is outlined which includes cobalt, lithium, rare-earth elements and tungsten as well as the Critical Minerals Expert Committee's first watchlist which includes Nickel. Power Metal is currently exploring for all of these critical metals within safe, mining-friendly jurisdictions (page 8).
Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:
"We are encouraged by the Government's public recognition of the need for a more thought- provoking strategy towards the development of secure critical minerals supply chains.
As a UK listed resource exploration and development company, Power Metal is working across multiple exploration and development projects in North America, Africa and Australia seeking large scale metal discoveries, with a particular focus on district scale opportunities.
We note the inclusion of tungsten within the cohort of minerals with high criticality for the UK (page 8). This aligns with the United States Geological Survey's inclusion of tungsten on their critical minerals list published in February 2022(1) and further demonstrates the importance of our 83.13% owned subsidiary Golden Metal Resources plc, with its flagship Pilot Mountain Project - focused on the tungsten commodity in mining friendly Nevada, USA.
Golden Metal is in the final preparatory stage of a planned listing on the London capital markets, and we agree that London has the potential to be a major global centre for international resource exploration and development finance. For this reason, Power Metal is planning to list its various resource project packages in London.
The resilience of critical mineral supply chains is becoming an important consideration for many governments around the world. However, as acknowledged in the Policy Paper, there is a need to act responsibly and strongly embedded ESG policies need to be at the forefront of this fundamental shift. Power Metal recognises this and will soon be publishing its ESG Policy which will be applied to all our operations. The ESG Policy will codify what we are commonly doing in practice today as a responsible organisation and will make further enhancements to our internal ESG mindset, with real qualitative and quantitative ESG targets."
Note
(1) https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals
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.
Exploration work programmes may also be underway within 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:
www.firstclassmetalsplc.com
www.goldenmetalresources.com
www.firstdevelopmentresources.com
Power Metal also holds a material investment in Kavango Resources plc with exploration updates available through their regulatory announcements and on their website:
www.kavangoresources.com
Project Location Current Work Completed Results Awaited POW or Underway % Alamo USA Earn-in Technical reports Analysis of technical Gold Project to 75% received following reports and potential excavation of follow-on work programme multiple test under review. pits and mapping & sampling completed. ---------- --------- ----------------------- -------------------------------- Athabasca Canada 100% Hyperspectral Finalise review of data Uranium data analysis from 3 properties. Prepare conducted across for summer exploration all 7 properties. programme across 4 properties. Updating to 7 data rooms for third party review. ---------- --------- ----------------------- -------------------------------- Authier Canada Earn-in Property Evaluation Update covering exploration North to 100% Report completed. plans for target areas Lithium identified during the Evaluation. ---------- --------- ----------------------- -------------------------------- Molopo Botswana 53%(#) Comprehensive Finalise next exploration Farms data review complete steps and action plan. and establishment of data room for third party review. ---------- --------- ----------------------- -------------------------------- Tati Botswana 100% Site visit with Exploration planning Project mapping of gold underway including further workings and mapping, sampling and mine dumps. launch of an RC drill programme. ---------- --------- ----------------------- -------------------------------- Victoria Australia 49.9% Diamond drill Final drill programme Goldfields programme completed. results analysis and Review of Ajax resource potential analysis & Berringa mine from former high-grade remaining resource producing mines in granted potential. licences. ---------- --------- ----------------------- --------------------------------
(#) subject to completion of acquisition announced 18.5.22 interest will increase to 87.71%
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END
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(END) Dow Jones Newswires
July 22, 2022 05:39 ET (09:39 GMT)
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