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POW Power Metal Resources Plc

-0.025 (-3.23%)
29 Sep 2023 - Closed
Delayed by 15 minutes

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Share Name Share Symbol Market Type Share ISIN Share Description
Power Metal Resources Plc LSE:POW London Ordinary Share GB00BYWJZ743 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.025 -3.23% 0.75 1,729,622 14:05:34
Bid Price Offer Price High Price Low Price Open Price
0.70 0.80 0.775 0.75 0.775
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Miscellaneous Metal Ores,nec 0.04 -2.26 - - 15.49
Last Trade Time Trade Type Trade Size Trade Price Currency
16:05:48 O 25,000 0.755 GBX

Power Metal Resources (POW) Latest News

Power Metal Resources (POW) Discussions and Chat

Power Metal Resources Forums and Chat

Date Time Title Posts
01/10/202313:50POWER METAL RESOURCES PLC 2,410
12/9/202307:37why maestro has plunged into POWER METAL RESOURCES1

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Power Metal Resources (POW) Top Chat Posts

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Posted at 22/9/2023 13:36 by noirua
It does look as if Katoro Gold, shares held by Power and an interest in Haneti, could go to the wall.

Katoro Gold PLC - warns that cash may run out by the end of the month, and it is reliant on completing a fundraise to fund its ongoing working capital.

A liability position of £303,280, available cash reserves of just £25,443 as at June 30. Katoro reports no revenue for the first half of 2023, unchanged from a year prior, as pretax loss narrows to £311,094 from £540,225.

So it looks as if Power Metal shares in Katoro could become worthless. This looks to mean Power will also lose its interest in Haneti.

It looks as if POW can no longer sit there and watch.

Haneti was much spoken about by former CEO Paul Johnson.
Posted at 15/9/2023 09:39 by noirua
Anyway, Power Metal is trying and though I had been very negative for several years now the last few weeks show to me that it is really the low gold price once again testing the $1,900 level that has held back both Power Metal and other explorers with a number of gold prospects. Power also has a silver prospect where high levels of silver have been found in so far narrow veins.

Rick Rule seems to have his eyes on the Uranium prospects that probably will be good but maybe not this year or even next. He sits contented it seems waiting for the mining sector as a whole to eventually recover.

So basically Power Metal is a tortoise mining explorer trying to push forward lots of prospects at the same time so needs a lot more patience that in my view PJ never really had. Having said that his enthusiasm is much missed at Power Metal and he is needed on board as a PR man of some distinction.
Posted at 07/9/2023 09:04 by noirua
Explorers suffer from one major factor and that is they have no product to sell only one of their interests. Obviously, you might say but during boom times drilling and finding good percentages of copper, gold, etc., is enough to push up the share price or even buy a tenement.
Precisely where Power stands now with nothing to sell except quoted shares that have nothing to sell themselves. A bit like having a shop that is always expecting delivery of items but has nothing to sell except the furniture and fittings.
Somehow waiting and waiting whilst cash goes down and down is itself a risk and shareholders pass by with only Rick Rule, Paul Johnson, and Co. willing to sit it out whether it's 1 year or 10 years.
Posted at 29/7/2023 00:24 by noirua
Good grief I'm in profit as the shares recover just a bit. Mildly encouraging as it is a recovery but slow. Not a Twitter ramp only a PJ ramp. Mind you a PJ ramp can be something to marvel at to be sure to be sure.

We mustn't forget that FCM trades a little below the IPO price of 10p at 9.5p - 10p and the POW warrants have a last day for conversion on Friday 29th at 10p.

Katoro and Kavango Shares have both crashed in price which are great disappointments.

Power Metal has no income with considerable ongoing costs. So a further placing is due down the line.

If POW unloads its on market shares it will look like desperation so it is over to America to buy shares at a discounted price.

Much of the garden is rosy but look closely at some small trees they are shriveling.
Posted at 06/5/2023 14:50 by noirua
Drilling results at Berringa appear disappointing and unfortunately won't help the Power Metal share price. The deepest hole was particularly poor though the others were not drilled to much of a depth.

Very much at Power Metal is pending. Whether pending or delayed they are damaging to the company's share price like it or not.
Posted at 10/3/2023 11:00 by the chairman elect
First Equity would like to make you aware of the following RNS this morning from Power Metal Resources plc on its Strategic Update and directorate change, along with a link to a short video with both the departing CEO Paul Johnson and newly appointed CEO Sean Wade.


Power Metal Resources plc (POW.L)*

Strategic Update and Director Change.

10 Mar 2023

Power Metal Resources plc: (POW.L)

Mid Price: 0.97p

Market Cap: £17m

Listing: AIM

FE Recommendation: Buy

Full RNS

In the StockBox video, Mark Fairbairn speaks to both departing CEO Paul Johnson and newly appointed CEO Sean Wade.

Paul gives his reasons for stepping down and how he came to choose Sean Wade as his replacement. Wade has a background in capital markets and direct involvement with companies, with experience in handling investor relations and corporate business development.

Johnson selected Wade due to his skills, knowledge, and connectivity to make a massive difference in the company. Johnson will still be involved with Power Metal Resources and will help out in any way he can.

Wade states that the three main priorities for Power Metal Resources going forward are: (a) delivering on the current IPO program, (b) building a substantial uranium business, and (c) delivering on the Botswana exploration program. Wade plans to work with the established operational team and add value for shareholders.
Posted at 10/3/2023 10:56 by the chairman elect
Power Metal Resources* (POW LN) 0.9p, Mkt cap £16m – Appointment of New Chief Executive Officer and update on strategy going forward.

Power Metal Resources provides an update on its portfolio of projects and its change in leadership

The Company has appointed Sean Wade to take over the reins from Paul Johnson as CEO.

Sean has a proven managerial track record in the natural resources sector with companies including Berkeley Energia, Pensana and Asia Resource Minerals.

He comes from a background of capital markets, including Cazenove & Co and Liberum.

Paul Johnson will step down both as CEO and from the Board on the 17th March to focus on certain critical family health matters.

Paul comments that he will ‘take great pride in watching Power Metal take its rightful place amongst the leaders’ in the sector.

Sean comments that Power Metal ‘has an excellent resource asset set that is yet to be recognised by the wider market.’

Going forward, the Company will continue to execute its strategy of gaining value through spin-out IPOs whilst developing through exploration and resource definition.

Power Metal notes that Golden Metal Resources, in which it holds an 83.13% interest, has completed pre-IPO preparations, with IPO financing currently underway.

Golden Metal Resources holds the Pilot Mountain project, the USA’s largest known tungsten resource estimate, alongside Golconda Summit, which holds prospective Carlin-style gold mineralisation.

First Development Resources, in which Power Metal holds a 58% interest, holds the Wallal project in the Paterson region of Western Australia.

FDR is also moving towards IPO, with pre-listing and financing set to begin shortly.
Power Metal is also looking to list its Uranium Energy Exploration spin-off, which holds two uranium properties in the Athabasca Basin.

Similarly, Power is exploring options for listing its JV New Ballarat Gold Corp, which holds large licence packages over historic working mines in the Victoria Goldfields of Australia.

Conclusion: Paul has been the primary driver behind Power Metal’s incubation and development of an exciting global portfolio of prospective and strategic assets and will remain well involved with the Company as its largest shareholder. We wish him the best. We look forward to following the Company’s continued development under Sean and the team’s efforts to generate value from Power Metal’s wide range of assets.

*SP Angel acts as Nomad and Broker for Power Metal Resources
Posted at 26/1/2023 08:48 by noirua
The POW share price continues to track down towards the 1.25p share price - presently 1.325p on a market capitalisation of £22,890,366.
Power Metal shares in issue as of 30 December 2022 - 1,727,574,806
Posted at 02/12/2022 14:51 by noirua
There is probably, although it is always a guess, about a 0.5p to 0.7p gamble in the share price of Power Metal solely over Molopo Farms. If Molopo is basically not commercial the share price may well drop to 0.8p to 1p. The upside is far different as the share price could rise a little up to the share price trebling.

There are many other interests that are good at Power Metal but the poor performance of Kavango and Katoro/ Haneti kinda equals all that out.
Posted at 30/8/2022 08:42 by noirua
Power Metal's news on Molopo Farms is promising but remember nothing has been found as yet and it may turn out uncommercial. So if a good find is made the share price will move up markedly but a disappointment may plunge the share price.

The first IPO 'First Class Metals' was quite successful but there was no follow-through and the share price slipped. Further IPOs look well set though the market among most shares in the microcap sector remains drab.

Worth remembering that the only finds so far are silver at Silver Peak, British Columbia which is of a narrow width. KAVango and KAToro performances have been very poor indeed.

A shareholder will not like the above including PJ and associates but the information is correct. Fundraising looks needed by Spring next year unless an asset can be sold or an interest taken for a fair bit of cash.

Ignoring the share price POW is one of the most promising in the purely explorational UK microcap sector.
Power Metal Resources share price data is direct from the London Stock Exchange
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