In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that as at 31 December 2021 there are 1,441,839,987 ordinary shares of 0.1 pence each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,441,839,987 .
The above figure of 1,441,839,987 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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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.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:
|
Project |
Location |
POW % |
Work Completed or Underway |
Results Awaited |
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Alamo Gold Project |
USA |
Earn-in to 75% |
Excavation of multiple test pits and mapping & sampling. |
Field results from on-site work programme. |
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Authier North Lithium |
Canada |
Earn-in to 100% |
Soil & rock sampling completed |
Laboratory assay results of samples collected |
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Ditau Project |
Botswana |
50% |
Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals
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Field programme findings and defined drill targets for near term drilling. |
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Kalahari Copper Belt |
Botswana |
50% |
Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas |
Field programme findings and defined drill targets for near term drilling |
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Molopo Farms |
Botswana |
53%1 |
Kavango Option to acquire an interest in local project holding company. Option fee payable through defined work programme |
Results from various work activities underway as part of the Kavango Option |
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Tati Gold/Nickel |
Botswana |
100% |
Reverse circulation drill programme completed |
Laboratory assay results awaited |
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Victoria Goldfields |
Australia |
49.9% |
Ongoing exploration across 848km2 of granted exploration licences
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Results from field programme including drill programme underway |
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Wallal Gold/Copper Project |
Australia |
83.33%2 |
Passive seismic and 2D seismic processing work programme completed |
Results awaited |
1 should Kavango exercise their option to acquire Kalahari Key, Power Metal interest would reduce to 40% of the Molopo Farms Complex project
2 assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company’s announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors