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A great rns imo yesterday and today we have 1.5 million to use towards further development and the lse market is like 'Meh' This is one main reason I hope we are successful with the US OTC. I was expecting a good movement yesterday and we ended up moving with a close from 0.77 previously to 0.80.
Hopefully if we get great results from molopo, perhaps the market will wake up, but it is the UK and probably all having a lie in lol
Strange
Smart move to build the balance sheet more money for saudi
This will go down well with Saudi investors. Smart move to list it locally. Not sure what percentage will be retained by POW but given that the current value on its balance sheet is zero it's a winner 🏆 most importantly it's yet another source of investor information flow which will attract more "sticky" 💰💰💰
I'm not sure how much marketing would be needed in Saudi if it is to be listed on the exchange there - there's so very little available for the Saudi exchange to invest in domestically with mining and exploration, and so many billions sloshing around in that part of the world, I could imagine that within a short period POW's retained stake of just that vehicle might well completely dwarf the current market cap!
Hopefully this new ipo also gets listed on the Saudi exchange market as well as the lse. I'd expect it to have more marketing over in gulf as well as here
Great RNS this morning. Saudi Arabia doesn't mess around; so this could be big for pow
Go where the money is.
This could be huge
Good news from GMET this morning:
“ Golden Metal Strategic Raise of £750,000 to Support Accelerated Exploration in Nevada USA
Single Investor £750,000 Subscription at 15p per share
Golden Metal Resources plc (LON:GMET, OTCQB:GMTLF), a mineral exploration company focused on tungsten, lithium, gold, copper and silver within Nevada, USA, is pleased to announce it has raised £750,000 through a direct subscription with the Company.
Subscription Highlights:
- Golden Metal has completed a strategic raise of £750,000 through the issue of 5,000,000 new ordinary shares of 1.0p each ("Subscription Shares"), representing 5.5% of the enlarged issued share capital of the Company, in a subscription from Purebond Ltd. (the "Subscriber") at an issue price of 15p per share.
- The subscription price represents a premium of 5.3% to the closing market mid-price of the ordinary shares of the Company on 8 March 2024.
- The Subscriber will receive one warrant with every two Subscription Shares subscribed for (2,500,000 new warrants). The warrants have an exercise price of 25p per ordinary share and will expire two-years after the date of the Subscription Shares' admission to trading on AIM.
- The £750,000 raised will be applied to the Company's working capital and the acceleration of exploration and project development activities including, 1) next stage exploration at Garfield, 2) commencement of key permitting steps relating to the development of Pilot Mountain, and 3) diamond drilling of key exploration and resource infill targets at Pilot Mountain. Further details on all of the above items will be announced to the market in due course.
Oliver Friesen, CEO of Golden Metal, commented:
"I am very pleased to announce this strategic subscription, from a single investor, at a premium to the market price, providing the Company with £750,000.
"We intend to deploy this funding into what we consider to be high impact exploration and development initiatives that have the potential to build considerable value for the Company and shareholders”
Clearly the new investor likes what he sees to pay a 5% premium for the new shares. This is a very positive sign as GMET awaits news on the US Government grant which will allow the fast tracking of the Tungsten project.
We should also probably expect news this week from Shaun following his trip to Saudi Arabia.
As Sean has mentioned; GSA is also helping us with a further step forward into Saudi Arabia. With the government there putting in 3.2 trillion in developing the country by 2030; pow is trying to put their own footprint there.
We are currently in the process of joining the USA stock market. Would it be possible for a UK company to join the Tadāwul (Saudi exchange market) investors in Saudi Arabia don't invest small amounts imo. Not like here in the uk on Aim where someone on Friday invested £1.06p (you have to laugh lol)
TCM, I would never presume to offer a more logical and capable opinion than you, frequent contributor that you've been over the years to this board. BUT:
-if it's so lifestyle, why have the founding CEO and the replacement CEO invested six figures each of their own money in POW shares, only to dilute themselves and pay themselves rather low salaries by AIM standards? (In PJ's case, he paid himself less than a village primary school head - lifestyle indeed! Indeed even before tax and NI, PJ hasn't had out of POW in salary the full amount he's invested in the company.)
-how have they managed to dupe Rick Rule (perhaps you've heard of him) into becoming the largest shareholder in their lifestyle company? I know he's a bit infamous as a schmuck who makes a habit of backing complete losers and losing all his money, but even by that standard what you describe happening at POW is a major accomplishment even for him.
-have you considered that perhaps the reason for the GSA deal is that POW has some in house skills and connections to help quickly accelerate this company to highly profitable and revenue generating? Even if it doesn't happen, why are you so concerned with an investment which at most could lose POW shareholders 75k?
-have you considered that POW do have a bit of a track record of taking assets from other companies and multiplying their value to POW shareholders at a rate of 400-500%, ie Pilot Mountain.
I really look forward to your continued valuable intellectual contribution to the POW board, we don't get many people as smart as you on here able to so succinctly and intelligently run rings around the likes of PJ and Rick Rule with their disastrous records of investing in junior mining.
(PS If you're going to grace us with a reply to any of my queries, could you please spell it out in really simple terms for me, perhaps pigeon English, since so many of us on the POW board understand so little to do with junior resource investing when compared with an intellectual giant such as you.)
GSA not GMET
GMET was sooooo valuable that even it couldn't but accept the proceeds in shares.. LOL.. and even then staggered.... such a wonderfully valued stock that the seller is soooo desperate to get rid of it.. even it if it means getting non cash paper... LOL
All POW is a poxy pos 'investor' in other even more pos companies that are given hyper subjective valuations which even the market can see through as totally pie in the sky. Mugs like you fall for the so called valuation thinking they've found something that the market is missing..... all the while the directors live it large issuing confetti of shares..... and voila it's a lifestyle company..... I can see another fundraising happening very soon to ensure that lifestyle can continue for a while yet.
POW generates as much organic revenue as a lemonade stand outside a US supermarket
It's cash consuming lifestyle outfit, with mugs like you funding it.
Sol - Not quite! Not all companies have to raise money because they have businesses which are generating revenue.
That is the same for any company to say they need to raise cash. Even the average Joe who runs their own business has to raise money to pay for overheads etc. Hopefully we don't have to worry about that too much as Sean mentioned with GSA environmental. I agree with the drilling though. Still waiting for some decent results. Molopo shouldn't be too far off
I suppose a couple of the big risks are that we don’t find anything with the drill bit, or that we need to raise cash.
But we have a diversified business with many different projects, so should one project produce negative results it shouldn’t be terminal for the company. And SW seems to be doing a good job of raising finance without diluting current shareholders into oblivion.
What do you see as the main risks potential shareholders should consider?
Some nice trades going through today ;)
Couldn't agree more with Tray, this is a well run, well diversified business. Yes, there are risks, it's a microcap stock. But I don't think there's much better you'll find if fishing around in this particular pond.
0.72....looks to be the bottom of this pullback..imo
lets see.
I think with the share consolidation to help us get onto the USA OTC market, we will see more investors and as Sean mentioned with the GSA environmental we should see more news flooding through. I'm looking forward to hearing news from the Oman and Saudi trip and see what comes from that. We still have to hear about the lithium results from North winds, Canada as well
It's really a question of risk appetite which is lacking in the Aim mkt in general. I strongly believe when the tide turns Power will be in great shape to deliver multifold. The Board is proactive and forward thinking and not just sitting back collecting their paycheck. Sean Wade has done a fantastic job so far and is leaving no stone unturned.Its an incredibly diverse portfolio on paper ,with no debt ,lots of upcoming news and way undevalued.
The volume here is embarrassing. 0 sells and just £4k bought. Do we have a board of directors? They seriously need to think about doing some work and providing updates to try and stir life into this company. I've seen dead ducks with more promise.
Currently, approx. 90% (circa £15.5mil) of the POW market cap is now covered by listed investments (GMET & FCM), pre-IPO investments (FDR & UEE) + cash in the bank.
The other 10% (circa £1.5mil) is the value the market has given to the following:
- 15+ 100% owned Uranium licences in and around the Athabasca basin (directly held by POW & not earmarked for IPO)
- 100% ownership of the Tati project with near surface gold grades and the possibility of nearby tailings processing (grades up to 47g/t so far from RC drilling)
- 88% ownership of Molopo - current 800m drill programme in progress with results most likely late spring/early summer
- 75% exposure to GSAe Ltd - A potential future revenue stream for POW and tailing processing facility
- 49.9% ownership of NBGC PLC with several gold licences in and around the Ballarat mine area in Australia.
- 35% ownership of Haneti (65% owned by KAT)
- 30% ownership of Silver Peaks (70% owned by a handful of private investors)
- 20% ownership of New Horizon Metals. An early stage exploration company looking to IPO on the ASX in 2024.
- MoU signed with Ministry of Investment of the Kingdom of Saudi Arabia
- Possible closer relations / JVs with KAT as POW & ex-POW executives take key positions in KAT.
- Future IPO of ION Battery Resources containing several 100% owned Lithium and Graphite licences in Canada
Almost all the above list in for pretty much free. Undervalued is an understatement at these prices in my opinion!