Member Info for Tray556

Share buyback update as at 26/01/2026:

Shares now in treasury = 1,944,861

Average buyback price = 15.00p

Cost to buyback to date = £291,657

Remaining shares to buyback = 15,305,139

Hi marc001 - Yes your buy has just printed.

When POW are buying 400k shares @ 15.27p as announced this morning, it makes every sense in the world to buy 115k @ 15.2p just a few hours later.

Of course our sellers think otherwise .....

No point in POW upping the bid yet.

Yes, POW are clearly the biggest potential buyer here with the cash in the bank and authority to buy a further 15,557,139 shares as at this morning.

But there are clearly still sellers here dumping chunks of stock around 15p. Take them out first as cheap as you can. More shares into treasury for less cash and the sellers don't get the luxury of a higher price to sell into. Win/win for POW.

At some point the "15p seller(s)" will dry up, then POW can decide to up their bid if nobody else wants to buy in.

Share buyback update as at 23/01/2026:

Shares now in treasury = 1,692,861

Average buyback price = 14.94p

Cost to buyback to date = £252,849

Remaining shares to buyback = 15,557,139

Who is selling here when POW are telling the market "we will swallow up the next 15mil+ shares at this price" .... totally baffling!

Float slowly moving into a better position for when upcoming news lands.

Share buyback update as at 21/01/2026:

Shares now in treasury = 1,292,861

Average buyback price = 14.83p

Cost to buyback to date = £191,749

Remaining shares to buyback = 15,957,139

How the market is continuing to allow POW to pick up so much stock at such a large discount to NAV is extraordinary!

Surely Doc83! That's over 300,000 shares dumped this morning at a price lower than what POW are happy to buyback stock at from the RNS posted just this morning. Madness.

Price to buy has now dropped to 15.15p which is lower than the price POW have announced they are happy to buyback stock at this morning (just over 15.2p). The mind boggles!

When POW are effectively a confirmed 16mil share buyer at these prices ..... hopefully they start buying bigger chunks at these levels and grab as much as they can at a 35%+ discount to NAV.

Good to see the buyback is still going and POW is swallowing up as many shares as they can at such ridiculous discounts to NAV.

Shares now in treasury = 1,189,864

Average buyback price = 14.8p

Cost to buyback to date = £176,145

Remaining shares to buyback = 16,060,136

Utter madness that POW released an RNS this morning stating they were buying back stock at 15.2p and 35 SECONDS into the trading day, someone sold stock at 15.11p. Got to flush these illogical investors out so the SP can move back up to logical levels.

Noticed a delayed buy from Friday posted yesterday which was 156,494 @ 15.975p so looks like a background buyer around as well at these levels.

Yesterday appeared to just be a temporary pause to allow the SP to tick down so POW can swallow up more on the cheap.

I noticed Marcel Nally today (Minestarters Founder) posted the following on LinkedIn:

"Everyone says they want copper. Very few are willing to build it. I’m acquiring a Zambian Copperbelt project with a historical JORC Inferred resource of ~95,000t Cu. It’s not a monster. It’s not perfect. It is buildable. Base case work shows SX-EW, positive economics at current copper prices, and a clear route to production.

This opportunity is exclusively for funders capable of underwriting ~$75m of capex. No syndicates. No tourists. No retail.

A few weeks of exclusivity remain. Happy to meet in person or run through the full technical pack on a call. If you want copper exposure you can actually turn into cathode, you’ll know whether this is for you."

That look like Galileo's (GLR) Luansobe Copper Project to me. GLR even released an RNS in Sept 25 stating they want to flog it in the next 5 months.

If correct, is Marcel looking to acquire this for Minestarters? Or is he just acquiring it for one of his other business ventures.

I posted something similar to this on the GLR LSE board a few hours and the guys in the know over there seem to think it is the Luansobe project Marcel is referring to.

Thanks for the comments guys.

It would appear that Marcel Nally's comments do seems to closely align with GLR's Luansobe project then.

To add, I don't post on this board but just noticed that from the RNS in mid Sept 2025 GLR stated:

"As announced, at Luansobe its preferred option remains a direct sale of JV which it hopes to achieve during the next 5 months;"

Just seems to time right, but would be good to get a few thoughts on the comments of Marcel Nally from those in the know @ GLR.

I noticed Marcel Nally today from Moxico Resources / Minestarters ...... posted the following on LinkedIn:

"Everyone says they want copper. Very few are willing to build it.

I’m acquiring a Zambian Copperbelt project with a historical JORC Inferred resource of ~95,000t Cu. It’s not a monster. It’s not perfect. It is buildable.

Base case work shows SX-EW, positive economics at current copper prices, and a clear route to production.

This opportunity is exclusively for funders capable of underwriting ~$75m of capex.

No syndicates. No tourists. No retail.

A few weeks of exclusivity remain. Happy to meet in person or run through the full technical pack on a call.

If you want copper exposure you can actually turn into cathode, you’ll know whether this is for you."

Is he potentially referring to Luansobe?

Could well be a share buyback pause due to Minestarters as they have certainly ramped up their comms since late last week since their website went live so there maybe material news to announce from that part of POW's portfolio.

The Saudi Future Minerals forum also finished last Thursday. I know GSAe attended and POW own 75% of that company. Could something have finally come to fruition for GSAe?

Also with £10mil in the bank, POW could well be looking to enter new deals and left field news could land as well.

Worth nothing that it's only been one day since the buyback appears to have paused. So the buyback could well resume today as normal with 16.2mil shares still available to buyback.

I did notice Doc that nothing obvious posted in the trades in terms of a buyback on Friday afternoon compared to the previous trading days.

Seems to be a background buyer around last week though as 1% of the float was traded on Friday alone with no buyback.

The question now is, are POW in receipt of price sensitive news or have they paused the buyback on their own terms?

A personally think they POW are happy to buy up everything priced below their NAV of 25p … so gut feeling is that POW need to temporarily pause the buyback here to possibly comply with market abuse rules until any price sensitive news is released.

Looks like no buyback was done on Friday. There was more than enough liquidity for shares to be bought back on Friday. So it appears:

1) POW are now possibly in receipt of price sensitive news so cannot buyback stock until the market has been updated.

2) POW see 15.5/16p as a bit too expensive at this stage so are temporarily pausing the buyback after the SP has started to move up since the buyback commenced.

3) POW’s broker just simply had a day off on Friday from buying back stock and the buyback will resume as normal ASAP.

Update on the positive first week of the share buyback:

No of shares bought back this week = 1,041,285

Average price of shares bought back = 14.75p

Cost to buyback shares to date = £153,554

Remaining shares to buyback = 16,208,715

With 16.2mil still left to buyback, POW still effectively remain a £2.5mil buyer. When the biggest buyer on the market is your own company, how can anyone be selling their POW stock at present?!

POW are going to swallow up all they can below their 25p NAV. The share price from solely a demand/supply point of view is only going to continue to grind up over the coming weeks.

Great posts as always Nano. I'm especially interested in the following:

"Maaden Base Metals, a subsidiary of the Saudi mining giant Maaden (through Vidacos), is on the register. Since 1997, Maaden has been realising its vision to unlock Saudi Arabia’s mineral wealth and build a world-leading mining sector in the Kingdom. Today, it’ backed by the Kingdom’s Public Investment Fund (PIF). Thus, when a sovereign-backed, multi-billion-dollar industry leader takes a strategic stake in a microcap, it speaks volumes about the quality of the assets and the global opportunity they see."

I was unaware that Maaden were invested in POW. If correct, that's really positive :)

No idea Doc83 .... but for years now a portion of POW holders by their very nature seem to act and think in an illogical and unexplainable manner.

Why on earth would you sell 238,000 shares at a price that is significantly lower than what POW would buy them back off you at in a heartbeat?

POW may have actually bought this 238,000 of stock back today, but since the buyback commenced this week, the stock that gets bought back each day by POW's broker seems to print as a single trade just after the market closes.

In fact, a few more delayed prints have just landed and at the time of posting this message, just over 238,000 shares have been dumped under the price of 15.02p that POW are happy to buyback stock at per the RNS this morning. Bizarre.

So someone has sold 50,000 POW stock this morning @ 14.77p whilst POW have announced this very same morning that they are happy to buyback stock at 15.02p. There is also a 30,000 sell @ 14.65p.

Makes absolutely zero sense .... Surely you'd pick up the phone or fire up your emails and get in touch with SP Angel and get a bit more for your money?

The state of the POW share float is so unbelievably bad.