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Power Metal Resources #POW – Australian Copper-Gold Acquisition – Update
7th July 2021 / Leave a comment
Presentation Released Highlighting Geological Potential of Acquisition Projects and Specifically Havieron Comparable Bullseye Magnetic Targets Within the Wallal Project
Power Metal Resources plc (LON:POW), the AIM listed metals exploration and development company has prepared an information presentation covering the Australian Copper-Gold projects in the Paterson Region ( “Paterson”) of Western Australia.
This information presentation may be viewed through the following link:
https://www.powermetalresources.com/presentation/first-development-resources-pdf/
The Paterson projects are held by First Development Resources Pty Ltd (FDR Australia) and include Wallal Project (three licence applications being Wallal-E45/5816, Wallal West 1-E45/5853 and Wallal West 2 – E45/5853), Braeside West Project (one licence application) and the Ripon Hills Project (one granted licence).
On 28 April 2021 Power Metal announced a conditional acquisition of FDR Australia and this may be viewed through the following link:
PRESENTATION HIGHLIGHTS:
Regional Background
· Paterson widely regarded as one of the most prospective provinces in Australia for the discovery of world class gold-copper deposits.
· Paterson is home to several world class mines and recent discoveries including the following which host JORC compliant resources: Winu (Rio Tinto – 503Mt at 0.45% CuEq1), Havieron (Greatland Gold – 4.2Moz AuEq1), Telfer (Newcrest Mining – 31Moz Au).
Wallal Project
§ Wallal Project (the “Wallal”) transacted by Highway 1 and is located less than 200km from Port Hedland, Australia and shares an extended border with Rio Tinto Exploration licence footprint.
Magnetic Targets Identified at Wallal
· Major Au-Cu deposits within the Paterson Province, including Winu (Rio Tinto) and Havieron (Newcrest Mining-Greatland Gold JV) were evaluated in comparison to the Wallal Eastern Magnetic Anomaly.
· Open-file publicly available airborne magnetic dataset (TMIRTP2 5km High-Pass) identified two highly prospective bullseye3 magnetic targets within Wallal.
· The Western Anomaly is over 5.5km in diameter; and the Eastern Anomaly is 2.5km in diameter and is located at the transect of two northwest-southeast trending magnetic linear anomalies (comprising possible major structures).
· Greatland Gold’s Havieron deposit is coincident with a magnetic bullseye anomaly which was detected by an airborne magnetic survey flown over the region.
· The Havieron and Wallal anomalies have similar amplitude: approximately 80nT (nanoTesla) for Havieron and 100nT for the Wallal Eastern Anomaly. The Wallal Eastern Anomaly is slightly larger than the anomaly over the Havieron deposit.
· Direct comparisons between Wallal and Havieron (geophysical)/Winu (geological), bode well for prospectivity of the Eastern Magnetic Anomaly bullseye.
· Additional geophysical inversions are ongoing and various geophysical datasets are being acquired in order to better determine orientation and depth of these compelling geophysical targets prior to drilling.
BACKGROUND TO FDR AUSTRALIA AND PLANNED CORPORATE ACTIVITY
FDR Australia is a private Australian company with 100% ownership (or the right to acquire 100% ownership) in five exploration licence interests in the Paterson Province, East Pilbara, Western Australia. The projects include Wallal (three licence applications), Braeside West (one licence application) and Ripon Hills (one granted licence).
Power Metal announced the conditional acquisition of FDR Australia on 28 April 2021 and is working with its Australian partners to finalise matters precedent on the acquisition including the grant of the Wallal licence application.
Good progress is being made with all matters including finalisation of Heritage Agreements locally which are necessary prior to formal grant, including the key initial licence at Wallal where it is anticipated first drill targets will be established.
On completion of the acquisition FDR Australia will be acquired outright by a newly formed private UK company First Development Resources Limited (“FDR UK”) in which Power Metal will have a 75% interest.
Following completion of the acquisition above, the intention is to arrange an initial public offering (“IPO”) of FDR UK in the London capital markets targeting Autumn 2021 and the Company is taking preparatory steps to enable that proposed listing.
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
Reference Notes:
1: CuEq or AuEq: Copper Equivalent grade (CuEq), Gold Equivalent grade (AuEq): Equivalent grades are often employed where a deposit is comprised of several different metals which have the potential to each contribute economic value to the deposit. The equivalent value of the individual minor metals is converted via a formula to a single major metal, usually the major metal which is the most economically dominant in the deposits. The formula used can vary but often employs metal prices and metal recoveries. ASX-listed companies are able to report metal equivalent grades provided they are accompanied by: all individual metal assays; commodity price assumptions; assumed recoveries; the formula; and confirmation that there is good potential for all metals to be recovered.
2: TMIRTP : Total magnetic intensity (TMI) reduced to pole (RTP) relates to the magnetic geophysics data processing methods employed for interpretation of the raw survey data.
3: Bullseye: A bullseye magnetic target is a distinct high-intensity anomaly comprising concentric circular bands of high gradient magnetic intensity surrounding a central point. The analogy is with a dartboard bullseye which presents a distinct central target.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
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 (LON:POW) is an AIM listed metals exploration and development company seeking large scale metal discoveries
The Company has a global portfolio of project interests including precious, base and strategic metal exploration in North America, Africa and Australia. Project interests range from early stage greenfield exploration to later stage exploration prospects subject to drill programmes.
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.
Power Metal Resources #POW – Conditional Australia Copper-Gold Acquisition – Update
24th May 2021 / Leave a comment
Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to provide an update regarding the Conditional Australia Copper – Gold Acquisition (the “Transaction”) announced on 28 April 2021 and which may be viewed in the following link:
The Transaction includes the acquisition of a 100% interest in First Development Resources Pty Limited, an Australian private company (“FDR Australia”), to include FDR Australia’s five exploration licence interests (four licence applications and one granted exploration licence).
The vendors include shareholders of FDR Australia and various third parties with interests in the exploration properties (the “Vendors”).
As part of the Transaction FDR Australia is to be acquired outright by a new UK private company (“FDR UK”), in which Power Metal is to hold a 75% initial interest and the Vendors a 25% initial interest.
The acquisition of FDR Australia will not be undertaken until the Ripon Hills Project has been successfully transferred into FDR Australia and a granted exploration licence has been received by FDR Australia in respect of the Wallal Project. Further announcements will be made by the Company as appropriate.
Transaction Progress
Power Metal and the Vendors are making good progress with the work to finalise the Transaction, including to secure the remaining four licence grants, prepare for accelerated ground exploration programmes and to pursue a planned listing of FDR UK.
Power Metal is working with the Vendors to identify the most expeditious route to complete the Transaction and to then implement the planned listing of FDR UK on the UK capital markets.
FDR UK has now been established with the formation of First Development Resources Ltd, a new UK company.
Confirmation has been received that given the size and nature of the Transaction approval is not required from the Foreign Investment Review Board, Australia, and may thus proceed without seeking formal approval.
Work is being undertaken to finalise Heritage Agreements in respect of the Wallal Project (E45/5816 – Licence Application) and, subject to a successful outcome, this is expected to be one of the final steps prior to receipt of a granted licence for the Wallal Project.
The Power Metal exploration team has been engaging with the Vendors and their advisors to undertake planning for exploration work across the Ripon Hills Project (E45/5088 – Granted Exploration Licence) and, subject to the grant of an exploration licence, the Wallal Project. This included liaising with the in-country geological and geophysical consulting firm Resource Potentials which conducted a detailed desktop study on behalf of the Company.
The results of this study saw the collection, analysis and interpretation of several geophysical datasets including airborne magnetics, ground gravity, 2D seismic, and airborne EM over the Property.
Following full analysis of these datasets and subject to licence grant, the Company in conjunction with Resource Potentials will plan and execute on a Phase I work programme which may include additional geophysical surveys as well as a deep drilling program targeting two coincident kilometre-scale magnetic, EM and gravity high bullseye anomalies located near the edge of the Wallal Platform.
CHIEF EXECUTIVE OFFICER STATEMENT
Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:
“Good progress is being made with the FDR Australia acquisition work, in terms of general administration matters and also, importantly, in exploration planning. It is evident from our initial work that there are large exploration targets in the Transaction licence areas and we are keen to move ahead with ground exploration.
“The work also continues to pursue a potential listing for FDR UK following the planned acquisition of FDR Australia. There is a lot of activity underway and therefore I expect further updates to the market in due course.”
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale discovery of precious or base metals.
The Company has a global portfolio of project interests including precious and base 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.
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.
Power Metal Resources #POW – Conditional Australia Copper-Gold Acquisition
28th April 2021 / Leave a comment
Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce an agreement has been reached for the acquisition of a 75% strategic interest in a UK special acquisition vehicle which is to acquire outright First Development Resources (Pty) Limited (“FDR Australia”), an Australian private company.
FDR Australia holds a portfolio of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia. The acquisition of FDR Australia will not be undertaken until the Ripon Hills Project has been successfully transferred into FDR Australia and a granted exploration licence has been received by FDR Australia in respect of the Wallal Project. Further announcements will be made by the Company as appropriate.
CHIEF EXECUTIVE OFFICER STATEMENT
Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:
“The acquisition announced today provides Power Metal with a strategic interest in exploration properties in the Paterson Province, Western Australia. This region has seen considerable interest in recent years following the Havieron discovery by Greatland Gold plc and Winu discovery by Rio Tinto.
The level of interest in the region has intensified of late and the opportunity to secure a high-quality strategic licence footprint is diminishing. We needed to act to secure Power Metal’s seat at the “Paterson” table.
We now have a seat at that table, but this is Power Metal and our policy is to carve out innovative pathways for value generation with each new transaction.
Through this acquisition we are creating a new strategic Australian copper-gold exploration vehicle with a view to listing this special acquisition vehicle on the London capital markets at the earliest opportunity.
There is a clear opportunity in the Paterson Province, something we intend to pursue with considerable vigour and as you will see below, we are aligning Power Metal with an experienced Australian team to support the business in the run up to the listing of the special acquisition vehicle.
For myself, and Andrew Bell Chairman of Power Metal, this transaction is reminiscent of the financing and restructuring of Greatland Gold we coordinated in April 2016, which rejuvenated that vehicle and provided the backdrop to the dramatic delivery for shareholders we saw there. It does Power Metal no harm if we aspire to achieve another positive outcome with this new opportunity.”
BACKGROUND
This acquisition agreement (the “Agreement”) underlying this transaction was finalised on 27 April 2021 and was based in part on an option agreement (the “Option”) announced by the Company on 19 January 2021 and which may be viewed through the following link:
https://www.powermetalresources.com/n/n340/option-signed-australia-copper-gold-acquisition
After signing of the original option agreement which focused on two exploration projects being the Wallal Project and the Ripon Hills Project, three additional exploration properties became available for acquisition which would significantly enhance the overall exploration licence footprint.
Discussions with FDR Australia and associated project vendors ensued and due diligence work was undertaken on the wider exploration package. The discussions were extended to the consider the strategic opportunity to work together and potentially create a new London listed Australian exploration vehicle, focused on the Paterson Province, in Western Australia.
To secure the strategic footprint in one move it was necessary to pick apart the original option agreement and reconstruct the transaction.
The outcome of this is that Power Metal Resources will acquire an effective 75% interest in FDR Australia. This interest will be held through a 75% interest in a newly created UK private company, (“FDR UK”), which will ultimately hold 100% of the issued share capital of FDR Australia. The remainder 25% of FDR UK will be held by the vendors and associated parties, as outlined below.
FDR Australia’s business interests are outlined below and include five exploration projects including one granted exploration licence (the Ripon Hills Project) and four licence applications (the Wallal, Wallal West 1, Wallal West 2 and Braeside West Projects).
The intention is to list FDR UK on the UK capital markets, on the most expedited pathway possible.
THE PATERSON PROVINCE
The Paterson Province is considered highly prospective for gold-copper and base metal mineral systems and is currently of particular focus for resource companies with a significant level of exploration activity underway across the region.
This level of interest follows recent high-profile copper and gold discoveries by Rio Tinto at their Winu property1 and by Greatland Gold plc (LON:GGP) with the Havieron discovery2. Notably, several major groups in search of Tier 1 deposits have entered into joint-venture / farm-in agreements with junior explorers to expedite exploratory work.
The area also has developed mine and processing infrastructure due to the presence of established mining operations, including Newcrest Mining’s Telfer Mine3 and the X-Metals Nifty Copper Operation4 (planned as a mine restart).
FDR AUSTRALIA AND ITS BUSINESS INTERESTS
FDR Australia currently holds five project interests (the “FDR Australia Interests”) as follows:
The Wallal Project – E45/5816 – Licence Application
E45/5816, the Wallal Project is an exploration licence application held outright by FDR Australia and covering 390km2 in the western quadrant of the Paterson Province with a favourable lithospheric setting for substantial base metal deposits consistent with Rio Tinto’s (ASX: RIO) Winu discovery – predominantly copper-gold-silver with a JORC compliant Inferred Resource of 503Mt @ 0.45% Cu equivalent.
Ripon Hills Project – E45/5088 – Granted Exploration Licence
E45/5088, the Ripon Hills Project is a granted exploration licence covering 4 2km2 prospective for base metal-gold mineralisation and is proximal to Rumble Resources’ (ASX: RTR) Braeside Project where significant new base metal discoveries have been made 5 .
The Ripon Hills Project will be transferred at nil cost to FDR from current owner Great Sandy Pty Ltd (“Great Sandy”) a private Australian Company (the consideration for the transfer will be satisfied by Great Sandy nominees receiving a proportion of consideration outlined below.) (Note: The mineral rights for manganese and iron are excluded for the Ripon Hills Project.)
Wallal West 1 Project – E45/5853 – Licence Application
E45/5853, the Wallal West 1 Project, is an exploration licence application covering 96km2prospective for base metals and gold.
The ownership rights to the Wallal West 1 Project will be transferred at nil cost to FDR Australia from current owner Pardoo Resources Pty Ltd (“Pardoo”) a private Australian Company (the consideration for the transfer will be satisfied by Pardoo nominees receiving a proportion of consideration outlined below”.)
Wallal West 2 Project – E45/5880 – Licence Application
E45/5880 the Wallal West 2 Project, is an exploration licence application covering 86km2prospective for base metals and gold.
The ownership rights to the Wallal West 2 Project will be transferred at nil cost to FDR Australia from current owner Pardoo (the consideration for the transfer will be satisfied by Pardoo nominees receiving a proportion of consideration outlined below”.)
Braeside West Project – E45/5854 – Licence Application
E45/5854 the Braeside West Project, is an exploration licence application covering 137km2prospective for copper-lead-zinc and manganese mineralisation.
The ownership rights to the Braemore West Project will be transferred at nil cost to FDR Australia from current owner Pardoo (the consideration for the transfer will be satisfied by Pardoo nominees receiving a proportion of consideration outlined below”.) (Note: The mineral rights for manganese and iron are excluded for the Braeside West Project.)
FDR Australia Additional Disclosure
In the 6 months ended 31 December 2020 FDR Australia made an operating loss of A$18,914 (circa £10,707) and as at 31 December 2020 FDR had net liabilities of A$19,939 (circa £11,287).
EXPLORATION RATIONALE
The Company believe that securing a footprint in the prospective Paterson Province in Western Australia has the potential to deliver significant value for shareholders.
While the area has excellent mining infrastructure, there are many parts of the region – highly prospective for copper-gold mineralisation – which are under-explored. In turn, this significantly enhances the upside potential as much of the area is masked by surficial cover.
Using an array of modern exploration techniques, comprising reconciling geophysics and geochemical surveys, the exploration would seek to efficiently and cost effectively identify priority test-drill targets.
TRANSACTION TERMS – ACQUISITION OF FDR AUSTRALIA
Power Metal will, subject to local regulatory approvals and through a new special acquisition vehicle acquire an effective 75% interest in FDR Australia, an Australian private company holding five exploration projects.
The 75% interest will be held through a special acquisition vehicle, namely a new UK private company (FDR UK) which will acquire a 100% interest in FDR Australia and in which Power Metal will hold a 75% interest.
The intention is to list FDR UK on a recognised stock exchange in the London capital markets at the earliest opportunity.
The vendors of the FDR Australia interests include the shareholders of FDR Australia and various third parties with interests in the exploration properties included in this announcement (the “Vendors”). The Vendors will hold the remaining 25% interest in FDR UK.
In addition to the 25% holding in FDR UK the consideration payable to the Vendors and related transaction terms are as follows:
– Power Metal will pay initial consideration of A$50,000 in cash (circa £27,798) and £275,000 payable through issue to the Vendors of 10 million new Power Metal Ordinary Shares of 0.1p (“Ordinary Shares) at an issue price of 2.75 pence per share (“Initial Consideration Shares”) (note: A$20,000 (circa £11,322) will be used to eliminate shareholder loans in the accounts of FDR Australia and therefore on its acquisition by FDR UK, FDR Australia will carry no liabilities). The cash component of the consideration above will be funded from Power Metal existing cash resources.
– In addition, Power Metal will issue the Vendors 10 million warrants with an exercise price of 4.5p per new Ordinary Share and life to expiry of 3 years from the date of issue (“Initial Consideration Warrants”). Should the volume weighted average price (“VWAP”) of Power Metal shares meet or exceed 7.0 (seven) pence for a 5 consecutive trading days Power Metal may serve notice on the Vendors providing 10 trading days to exercise and pay for the Initial Consideration Warrants or the Initial Consideration Warrants will be cancelled.
– The acquisition of FDR Australia by FDR UK will not be undertaken until the Ripon Hills Project has been successfully transferred into FDR Australia and a granted licence has been received by FDR Australia in respect of the Wallal Project.
– The initial consideration items outlined above (cash, Initial Consideration Shares and Initial Consideration Warrants) will not be paid until FDR UK acquires 100% of FDR Australia and until the regulatory approvals have been received including any such approval required from the Foreign Investment Review Board (“FIRB”), Australia enabling that acquisition to proceed.
In addition, subject to the acquisition of FDR Australia by FDR UK:
– Excluding the Wallal Project, upon grant of each of the three additional exploration licence applications (Wallal West 1 & 2 and Braeside West) and ownership transfer to FDR Australia a further £80,000 consideration is payable through the issue of 2,500,000 new Ordinary Shares at an issue price of 3.2p each (“Grant Shares”). Should all three licence applications be granted the total consideration payable is £240,000 (being £80,000 per granted exploration licence application) through the issue of 7,500,000 new Ordinary Shares at an issue price of 3.2p each.
– Excluding the Wallal Project, upon grant of the each of the three additional exploration licence applications (Wallal West 1 & 2 and Braeside West) and ownership transfer to FDR Australia Power Metal will issue the Vendors 2,500,000 warrants with an exercise price of 5p per new Ordinary Share and life to expiry of 3 years from the date of issue (“Grant Warrants”) for each exploration licence application granted. Should the VWAP of Power Metal shares meet or exceed 10.0 (ten) pence for a 5 consecutive trading days Power Metal may serve notice on the Vendors providing 10 trading days to exercise and pay for the Grant Warrants or the Grant Warrants will be cancelled. Should all three licence applications be granted a total of 7,500,000 Grant Warrants will be issued.
– The Vendors will retain a 2% net smelter royalty (“NSR”) over all licences included in this transaction and FDR UK will have the right to purchase 1% of this NSR for A$1,000,000
– The Vendors and their professional licensing and geological teams will continue to work with Power Metal to manage local corporate operations, undertake initial ground exploration and potentially to further build the licence footprint in the Paterson Province.
– A suitable advisory team will be promptly established to manage the corporate activities required to seek a potential listing of FDR UK on the UK capital markets.
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
References:
Source 1: Rio Tinto PLC announcement https://www.riotinto.com/en/news/releases/2020/Rio-Tinto-reveals-maiden-Resource-at-Winu-and-new-discovery
Source 2: Greatland Gold PLC announcement https://polaris.brighterir.com/public/greatland_gold/news/rns/story/wkqm9ow
Source 3: Newcrest Mining Ltd : https://www.newcrest.com/our-assets/telfer
Source 4: Metals X Ltd: https://www.metalsx.com.au/copper/
Source 5 : Rumble Resources Ltd: http://rumbleresources.com.au/braeside_project.php
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
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 (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.
The Company has a global portfolio of project interests including precious metals exploration in North America and Australia together with base and strategic metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage prospects currently subject to drill programmes.
The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.