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POW sold just over half its investment in GMET which has filled POW’s bank account with over £6 million in cash and cleared all is debt. It is in an enviable position with no need to raise cash. POW still holds 17.7% of GMET which after last weeks 38% rise in GMET is worth circa £13 million.POW was up just 8% last week presumably driven by GMET’s rise as there was no other news. POW’s market cap is £15 million so GMET accounts for most of the market cap with all the other investments essentially in for free.

GMET should be reported on and discussed on this site on a very regular basis to highlight the ridiculously low share price of POW compared to its discount to NAV.

The removal of Pre emption rights was rejected and the company should accept that. There would be no problem with raising the new funds by an Open Offer to existing Shareholders in accordance with Pre emption rights. There is no good reason why Slater should be allowed more shares at 11p when this option is not offered to other long term holders. He has made a considerable profit on his 2p shares and shouldn’t get anymore preferential treatment imho.

When you consider the problems that JLP has encountered due to South Africa becoming an economic and political basket case, it seems prudent to exit that country to concentrate on Copper in Zambia. The Company obviously can’t say that at this point in time, but I think that will have been an important factor. I think Leon has made a good decision.

Is it the rise in GMET that is driving the rise in POW as GMET remains its largest investment and there is no other news. POW remains a very cheap way of getting exposure to GMET.

BLU has started the week with a further impressive rise of 60% and number 2 on the leaderboard. A major rerate is now underway but has a long way torun as the market cap remains low and hasn’t begun to reflect the potential value. Meinhard Benn the major shareholder in Satochipay taking a stake in BLU was a very clear signal to the market. Benn has always believed that Satochipay has Unicorn potential. Some of you will remember the plan to reverse Satochipay into BLU and one has to wonder if that plan is about to be resurrected.

‘Blue Star Capital plc (AIM: BLU), the investing company with a focus on blockchain, esports and payments, notes the announcement by SatoshiPay Ltd ("SatoshiPay"), its investee company, that Vortex, a decentralised exchange platform incubated by SatoshiPay, designed to enhance global payments by bridging stablecoins with local fiat currencies, has achieved $1 million in transaction volumes since launching in Europe and Brazil, with $507,000 of the total achieved in May 2025.

The Vortex platform enables users to seamlessly swap stablecoins for local fiat currencies at significantly lower costs than current market rates. This presents a substantial opportunity in a rapidly growing market, with cross-border stablecoin payments valued at US$27 billion in 2023 and projected to reach US$137 billion by 2028. This growth highlights a US$14 billion volume in the on/off-ramp market opportunity over the next four years.

Vortex's business model is built around enabling easy to complete currency conversions and bank transfers with ultra-low costs and no hidden fees. Vortex achieves this with a stablecoin-optimised decentralized exchange together with local- currency on and offramp partners. By leveraging chain abstraction, Vortex offers a fluid user experience across different blockchain ecosystems. Vortex builds on top of Nabla technology and uses Pendulum infrastructure for providing its service to users of various blockchains such as Polygon, Base, BSC, Ethereum and Polkadot.

At present Vortex is available in Brazil and Europe and currently facilitates immediate conversions of USD Coin (USDC) and USDT (Tether), into EUR (SEPA) and Brazilian real (BRL), via PIX, Brazil's instant payment system created and managed by the Central Bank of Brazil.“

Good progress by Vortex looks very promising.

Low volume so far but worth noting 8 of the 10 trades have been buys at full ask 1.2p. I think those who have been here for some time know what’s going to happen when some decent volume kicks off.

OF had confirmed the last of the 17p warrants had been exercised. The RNS of 16th May was to confirm that the 17p warrants had been converted into shares and admitted for trading.

The only news this week was the share purchases by 2 Directors and it is good to see that very positive news rewarded by a 13.72% rise in the share price.

The last operational news was on 17th April regarding the Arabian Project so perhaps some operational news will arrive soon ideally on the Uranium project.

Just look at the chart for a year ago and note how quickly the share price moved from 0.8p to over 2p when we expected the project to kick off. Imagine what is going to happen when it actually does kick off. The opportunity to buy for under 1p has probably passed and we should see 2p very quickly as good news about the project starting becomes imminent.

A 15.9% rise this morning is interesting as there was no news released today. The last news release was the monthly newsletter on the 8th May so perhaps it’s a reaction to something in that newsletter.

The important point to note is that the share price is recovering well in recent days as it should on the very positive news flow. Yesterday GMET was up 8.85% in US trading to 0.52 which converts to 39p. The UK market has picked up the baton this morning and is Up 6.67% at 40p on volume of 234000. This has the makings of a decent volume day which should lead to a close above 40p. Sales to fund warrants should now be behind us and we should continue to rise back to the all time high of 49p at the end of March.

Unfortunately the US /Canada gold stocks have opened 3% down probably because gold is down and a reaction to the US deal with Ukraine. I doubt that will last long but if it wasn’t the case one would expect EDV to be Up at least 6% on today’s very good results.EDV is so undervalued against its peers that it should be able to rise against the market.

This is what Oliver is talking about when he says the significance of this for GMET cannot be overstated:

“ Secretary Doug Burgum

@SecretaryBurgum

.

@Interior

’s move to fast-track the mining & drilling permit process is a win for domestic mineral production and President Trump’s Energy Dominance agenda!

1 year ⏭️ 14 days Environmental Assessment

2 years ⏭️ 28 days Full Environmental Impact Statement “

Those reductions in permit times clearly justify Oliver’s comment that “ the signicance of this for GMET cannnot be overstated”. This should enable serious acceleration towards Tungsten production.

I think your comments about current poor leadership and total lack of communication are out of order and show a lack of understanding about the constraints on providing information and how business deals are negotiated. There are often NDA’s in place when discussions are taking place which means information can only be released with the agreement of the other party. It is also the case that it is rarely sensible to provide a running commentary in a public forum on negotiations that are in progress. Much as we would like to know the answers to your questions it would not be in POW’s best interests to do so. I am sure they have ideas about where to spend the GMET cash but it would not be good business practice to tell you until they have concluded a deal. There are detailed stock exchange rules about what they can disclose and they do release information when they can.

I accept that Sean is not a communicator at the standard of Oliver at GMET (few are) but Oliver is promoting one company whereas Sean is promoting several. Rick Rule seems to think Sean is doing a good job and likes the business model and that is good enough for me.

Very slow to get going this morning with no trades in the first 30 minutes and volume now is only 1215 with the last trade at 12p.

Strong buying this morning with most of the 850000 volume being buys at full ask 11p. It shouldn’t be long before this starts to move up.

I think you are right . The larger trades are all going through as unknown at the mid price, but now it is starting to move north it suggests the buys are the predominant force. This share should be much higher but accumulation without much price movement is being allowed.

“ Power Metal Resources PLC (AIM: POW, OTCQB: POWMF), the London listed exploration company with a global project portfolio, and its majority held subsidiary Power Arabia Ltd ("Power Arabia"), is pleased to provide an update on the gravimetry geophysical survey results and ongoing fieldwork at the Block 8 exploration concession in Oman ("Block 8" or the "Project").

Highlights:

· Gravimetry geophysics ("Gravity") survey conducted over Al Mansur prospect area.

· Gravity survey defined five named anomalies:

o H1: The highest gravimetric anomaly with almost 0.7 milligal ("mGal") of contrast and a north south orientation that may be associated with possible massive sulphide mineralisation (the "H1 Target");

o H2: May reflect lithological differences between L1 and L2;

o I1: Elongated Bouguer anomaly identified with 150m of extension and 0.22 mGal of contrast;

o L1: Amplitude of 0.7 mGal; and

o L2: Amplitude of 0.4 mGal.

· Extension of Gravity survey grid to the north commissioned to delineate the full extent of the H1 Target.

· A further 210 ionic leach samples taken over areas subject to gravimetric survey work.

· 765 field locations have been visited for outcrop verification.

Block 8 is the subject of an Agreement for Power Metal to earn a 12.5% stake in the Project held by ASX listed Alara Resources Limited ("Alara") and Awtad Copper LLC ("Awtad Copper"). The exploration work, led and undertaken by the Power Arabia technical team, commenced in October 2024 following the signing of a formal and legally binding agreement on 25 October 2024.1, 2

The gravimetry geophysics method is used to measure gravitation field variations which correspond to density changes and can be associated with subsurface mineral deposits such as massive sulphide and geological structures and intrusions.

Sean Wade, Chief Executive Officer of Power Metal Resources plc, commented:

"I am delighted to provide this exciting update from Power Arabia's flagship project. These highly encouraging gravimetric survey results further demonstrate the potential for Block 8 to deliver value to stakeholders and shareholders.

"I look forward to providing further updates on the excellent progress being made by the Power Arabia team across this licence area."

Let’s just go back to the latest RNS to remember where we are as advised by the Chairman on 5th March:

“ Charles Santos, Executive Chairman of Aminex commented:

"I am pleased to say significant progress has been made on all fronts of the Ntorya gas development in recent months, following the award of the 25-year Development Licence last year. The Tanzanian government continues to express its full commitment to the project and we hope to receive confirmation of the award of the pipeline contract shortly. APT, meanwhile, is preparing the ground for first gas.

The important seismic results have allowed APT and Aminex to propose a more extensive and longer-term plan for Ntorya, including the additional drilling programme and consequent increased gas production, substantially increasing the potential value for Aminex shareholders. This Ntorya gas will also benefit the Tanzanian people considerably, increasing the reach and reliability of electricity supplies, supplanting dirtier fuels such as coal and wood, and helping boost the country's industrialisation.

We thank the Tanzanian government and the TPDC for its support and its steadfast efforts to make the Ntorya pipeline a reality for our project and we thank APT for its continued efforts to progress the development.

We should note that like all big projects with multiple state national and international parties, project timelines can be impacted as the various stakeholders synchronise their workstreams and coordinate processes. Nevertheless, last year has been by all accounts a pivotal year, and we now look forward to a very active and dynamic 2025."

We should receive further news soon if we are to have an active and dynamic 2025 as we are nearly 1/3 of the way through 2025 and have done as much preparation as is possible without actually starting work.