(Alliance News) - Fulcrum Metals PLC said that Dahrouge Geological Consulting Ltd completed year-end reports on Fulcrum's Charlot-Neely and Fontaine Lake uranium properties.
The Canada-focused mineral exploration and development company noted findings of 7,130 parts per million of uranium at Fontaine Lake and 5,680 ppm uranium at Charlot-Neely.
Panther Metals PLC, a Canada-focused mineral exploration company which holds a 20% stake in Fulcrum, noted the announcement.
Panther Metals Chief Executive Officer Darren Hazelwood said: "Our exposure to uranium via our holding in Fulcrum Metals is largely lost by the market but its significance is growing as we witness a bullish uranium market combined with Fulcrum expanding its own footprint. I'm looking forward to seeing how the team develop the portfolio via a spin-out or partnership deal that has the potential to benefit Panther at a time we are accelerating our own business model."
Fulcrum shares rose 1.8% to 16.03 pence each on Monday afternoon in London, while Panther Metals shares fell 8.2% to 3.90p each.
By Tom Budszus, Alliance News slot editor
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Fulcrum Metals (FMET)
Panther Metals (PALM)