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43% discount with warrants! Even the warrants are priced lower than the share price at the time of the placing ... laughable and embarrasing.

Cheers Bobbust. Just shared your points on the Proactive Investor Presentation on the POW Telegram board. Not sure if you are a member of the POW Telegram Group.

POW is the major GMET shareholder, but they don't hold the majority of the outstanding 10.75p warrants.

GMET warrants outstanding as at today = 16,517,816 @ 10.75p = £1,775,665

POW's 10.75p GMET warrants = 1,749,378 @ 10.75p = £188,058

Fully expect POW to convert these warrants and hold them tight but they only hold circa 10.5% of the outstanding 10.75p GMET warrants.

Nice article below regarding POW:

https://www.crown.co.za/modern-mining/industry-news/27985-how-power-metal-resources-is-crystallising-value-across-its-portfolio

42% holding at a value of £3.5mil? Where are you getting that figure from Bobbust?

So we all think Sean Wade has put in circa £125,000 over the past 12 months (at an average of about 16p / 0.8p pre-consolidation) just to consolidate the stock a few months later and go on a dilution mission to erode his own funds that he just recently put into POW? Common sense states the Sean isn't going to dilute POW holders to death. Common sense states that this is being done for the OTC listing (which is already making some sort of progress if you check out the OTC POW ticker on the OTC website) and for the price to look more attractive to HNW investors. On the HNW investor point, I'll only believe that when I see it however.

Will Sean potentially get some more strategic investors on board through recent Saudi Talks, Rick Rule contacts etc. I would certainly expect so but all will be done at a fair price to both the incoming buyer and POW shareholders. Just like we have seen a strategic premium raise with the past couple of months.

Company now worth more on paper due to the millions POW holds in investments, cash in the bank and pre-IPO investment valuations.

Sean Wade one of the few good guys on AIM if you ask me at the moment. Extremely knowledgeable and just as frustrated with the SP performance as all of us lot on here.

The average AIM punter seems to use SP performance as the only indicator of a business's performance which is bizarre in my view and using that approach is a clear way to lose money. Loads here with an average of 3p (60p now) after piling into a business in 2020/21 which was worth a couple of million on paper but the market was valuing it at £35mil+.

Now the business is worth £15mil+ on paper with solid potential in Saudi and the Uranium space to come throughout 2024 but no one wants it. I'm personally filling my boots here! Fantastic opportunity in my view.

OTC listing for POW looking very close now too.

OTCQB certification posted on the OTC market website under the ticker "POWMF" yesterday alongside all the relevant latest POW financial statements in order to meet the listing criteria.

Consolidation vote approved this morning, so probably just a bit of compliance/legal work post-consolidation and the OTCQB listing may well proceed in April 2024.

Link to the POW OTC listing page is a follows if anyone is interested:

https://www.otcmarkets.com/stock/POWMF/overview

As Rick Rule has explained my times, his modus operandi is to invest in the top co i.e. POW in these types of models. Not the subsidiaries. He will be telling his guys to buy in to POW I would imagine, not the spin out cos.

Markets are terrible at present for raising capital so the options for POW are:

1) Sit on 100% owned assets that they cannot get the capital for to progress unless they dilute shareholders to death, or;

2) Reduce their holding in some of their 100% assets down to 30, 40, 50% for a cash free ride in a separate vehicle which costs POW £0

I know some like the higher risk approach of Option 1, but POW are going down the Option 2 route and this has been communicated for some time now.

POW will retain a few direct 100% owned projects (Molopo, Tati etc.) for future exploration and/or future IPO vehicles but most of what POW own directly will soon be moving to an indirect stake I would guess in a spin out co. Cash burn reduced, risk reduced, activity on assets increased, balance sheet value increased. Anyone looking for POW to do huge risky drilling campaigns is going to be disappointed.

Balance sheet is the focus here, not throwing the kitchen sink at cash sapping lottery drilling plays unless the drilling is being done by a separate vehicle to POW. The UEE IPO, Saudi IPO, GMET etc. will be where the fireworks will occur. Most on AIM just don't understand a balance sheet unfortunately and seem to think the odds of drilling successes are far higher than they actually are!

GMET shares & warrants in the money = £7.3mil

FCM shares = £0.6mil

Cash in the bank (estimated) = £1.5mil

UEE pre-IPO value = £1.5mil

FDR pre-IPO value = £2.6mil

Cash/Equity due from NBGC disposal (assumed we won't receive it all) = £0.5mil

TOTAL = £14.0mil

Market currently values POW at around £17mil today so the market is giving a £3mil valuation to the following:

- Any potential increase in the UEE IPO value with large investors lurking. Seems the plausible reason for the delay now with a future update in April 2024 most likely.

- Saudi IPO which includes a near term pre-IPO raise (doubt that will be £100,000s, more like £1,000,000s raised). Most likely more deals to be signed between POW and Saudi/Oman based on Sean's conversation with The Roast podcast this weekend.

- Molopo Farm drilling

- 15 additional Uranium licences not currently earmarked for IPO, one of which contains a solid Helium anomaly.

- GSA Environmental future potential revenue stream.

- Tati Gold project which has near surface gold grades (best results to date are shallow 1m @ 45+ g/t Au)

- 20% stake in future IPO New Horizon Metals to be listed most likely on the ASX

- 35% stake in the Haneti project which is 65% owned by KAT (POW/KAT relations my get stronger with the appointed of Paul Johnson and Sean Wade over at KAT)

- Future IPO of ION Battery Metals which will contain a number of Lithium & Graphite assets.

Just seems a steal to me at these prices but the market just doesn't seem to care for junior exploration plays at the moment. POW valued at £39mil in Jan 2021 with £500k in the bank and a couple of licences. Now £17mil but with a vast diversified exploration portfolio. The interest will have to increase here soon enough as the strong investment proposition builds to an inevitable re-rate event.

Saudi plans pushing forward now in addition to big investors lurking around the UEE IPO it would appear. The market still seems to value anything POW have an interest in at pretty much £0.

In my view the Saudi and UEE plans in addition to POW's large GMET holding are the biggest value drivers moving forward here. I feel a lot of investors still seem to think the likes of strong assays from Molopo Farms drilling is a business critical event ... it was 18-24 months ago but certainly not the case now. Any positive news from Molopo is just a bonus now. For me, Molopo and Tati have potential, but they also have the potential to be huge cash pits. POW seems to be focusing on reducing cash burn and getting as many projects as they can active through smaller indirect IPO stakes instead. Albeit the progress regarding the IPOs has stalled somewhat due to the poor appetite for junior exploration stocks.

All eyes on Saudi, UEE & GMET moving forward ... POW could be sat on a very healthy balance sheet by the end of this year alone and could easily dwarf the current market cap of circa £16-17million. Fantastic potential here in my opinion but the market seems to value that potential at £0 from some reason.

To add to your comments below Donkey, on 24/01/2022 POW also cleared the $500,000 JORC milestone tail benefit by issuing Thor £100,000 of POW stock and giving them £50,000 cash at the time.

Thor have now subsequently dumped all their POW stock too. Certainly is free and clear from any attachments to Thor!

Exactly InvestorPA - Not deramping here. Just simply addressing the key pieces of info that have been omitted from the RNS regarding the potential profitability of this project in a reasonable manner. My opinion (which is going to be different to others) is "this doesn't excite me in the slightest".

Anyways will leave it there and hopefully more info comes to light down the line as revenue figures are meaningless here.

Revenue is pretty much irrelevant here. What is left after costs i.e. the profit element (or at least some profit projections) of the venture is what matters.

The RNS does state "Current revenue at Hillside amounts to around $30,000 per month and the operation there is already profitable"

The question here is how profitable? Is the profit margin 1%, 10%, 20%, 50%? That is what matters and there is no info in the RNS regarding this. I can only assume that the profit margins are nothing to shout about, otherwise it would have been included in the RNS. But like I said, I can only assume do to the minimal info in the RNS.

I never said "there's no profit" and I never said "30% profit is irrelevant".

I simply said its all about the profit margins and this has not been outlined in the RNS in the slightest. I would suspect the business have a good idea on the profit margin too for this venture (I would hope so if they wish to scale up!) so why hasn't that been discussed in the RNS?

The revenue stream could be £10mil a day. If its costing the business £11mil a day to get that revenue in, then its a waste of time. Hopefully that's not the case, but without the necessary info, the RNS tells us nothing.

Until I see profit margins, I cannot get excited, that is my point.

$30,000 per month / £23,000 per month which is just the revenue element.

The profit figure hasn't been mentioned which I would suspect after costs is very little at the moment if it isn't worth talking about in the RNS. Yes KAV looking to scale this up, however, its the profit margin here that matters. We can all bake a cake and sell them for £20 but if its costing us £19.99 to make the cake, then its a total waste of time.

Even £10,000 profit a month from the venture isn't going to cover Ben Turney's ridiculous bonuses I'm afraid. The RNS doesn't excite me in the slightest.

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!

A 1:20 share consolidation wipes £1.5mil off the market value of POW I see today. So the market now values POW almost 10% lower than it did yesterday because a simple maths calculation was applied to the number of shares in issue.

Fully understand that in a lot of cases a consolidation can lead to a huge dilution push from the company, however, POW have the following to suggest they are not going down the dilution avenue with this share consolidation:

1) A £15mil+ balance sheet which on 10th May 2024 they will have access to all their FCM & GMET shares totalling around £8.8mil currently. Plenty of cash if POW need it. Certainly enough to not go cap in hand to the market anytime soon.

2) They can prove even in poor markets that they have the connections to get away a premium placing. This was demonstrated simply a matter of weeks ago at a time every AIM company is raising funds at 15-20% discounts on a good day.

3) The business is signing low risk deals to open avenues for potential revenue streams. Only time will tell if the GSA acquisition yesterday is going to be fruitful, however, if its not, the only cost to POW is the initial £75k outlay and nothing else. That outlay was all in shares anyways and resulted in about 0.4% dilution. The risk to this deal isn't worth talking about, the potential upside is and that's enough for me.

If the market which already values a business with a £15mil+ balance sheet and several directly owned interests including potential revenues streams at just £17mil, and now simple maths calculations are also having a negative impact on the market valuation, then I'll be adding even more to my holding here on this bizarre SP weakness.

Added a few more today sub 0.8p and will continue next week.

Terms of the deal with GSA (Environmental) Limited appear to be as follows:

- £75,000 upfront (equity issued at circa 0.85p)

- £75,000 paid (in equity at the 5 day VWAP before the deal) if commercial agreement is signed above £160,000

- £250,000 (in equity or cash) paid out in year 1 if £450,000 PROFIT is made (POW £450,000 x 75% stake in business = £337,500). So POW have be making £337,500 before £250,000 is paid out

- £250,000 (in equity or cash) paid in year 2 if £650,000 PROFIT is made (POW £650,000 x 75% = £487,500). So POW have be making £487,500 before £250,000 is paid out

- £250,000 (in equity or cash) paid in year 3 if £1,000,000 PROFIT is made (POW £1,000,000 x 75% = £750,000). So POW have be making £750,000 before £350,000 is paid out

So apart from the £75k initial outlay in equity, POW only have to cough up when they are winning. Seems a solid deal and a possible gateway into better deals in Saudi, Tati tailings projects etc.

Market cap stands at just £19.3 mil today.

GMET (£8.65mil + £100k warrants in the money) & FCM (£750k) investments = £9.5mil

FDR (£2.5mil) & UEE (£1.5mil) pre-IPO investments = £4mil

Cash (approx) = £2mil

No debts & strong £15mil+ balance sheet alone based on the above figures.

Therefore leaves a circa £3.8mil valuation for:

- 15+ uranium assets in and around the Athabasca Basin

- Molopo Farms (currently drilling) for Nickel/PGMs. Hints of Ni already found in previous drill campaigns.

- Tati - Next step Gold plans. Near surface solid gold grades found in previous drill campaigns.

- Saudi plans (MoU signed already)

- Haneti - Which may come back to life again with a few POW/ex-POW executives joining Katoro Gold

- Silver Peaks - Bonanza silver grades found in 2021/22.

- ION Battery Resources (future IPO)

- New Ballarat Gold Corp (future IPO)

- New Horizon Metals (future IPO)

To say the market is currently undervaluing POW is a huge understatement in my opinion. Strong company being built here which will move quickly to £50-£100mil valuation with a strong wind from the market.

Also worth noting that the Saudis and the multi millionaires Purebond threw £1.3mil in at 1p at the start of Feb 2024. Now down to sub 0.9p to buy. Illogical price movement and a great time to buy in my view.

Fully expecting POW to increase their GMET stake further soon as well. POW hold 1,749,378 GMET warrants @ 10.75p. This would increase their GMET stake from circa 61% to circa 62%.

It would cost POW £188,058 to convert those warrants, which at the current GMET mid-price of 16p would lead to those converted shares being worth £279,900 (currently £91,842 in profit).

POW also have a further 1,749,378 GMET warrants @ 17p.

If GMET are winning, POW are winning. It's as simple as that. Even if the short term swings in the market might not be saying so from a POW point of view.