Last checked at 4 Mar 2022 17:17
4 March 2022
Power Metal Resources plc
("Power Metal" or the "Company")
Posting of Documents to Shareholders and Notice of Annual General Meeting
Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that the Annual Report and Accounts for the year ended 30 September 2021 and Notice of Annual General Meeting were posted to shareholders today.
The Company's Annual General Meeting ("AGM") will take place at 10.00am on 30 March 2022 at Suite 24, Temple Chambers, 3-7 Temple Avenue, London, EC4Y ODT. Documentation in respect of the AGM may be viewed on the Company's website through the following link:
https://www.powermetalresources.com/shareholder-circulars/
Note: Shareholders are advised that resolutions 3 & 4 relate to the shareholder approval required for the issue of options to Non-executive Directors Scott Richardson Brown and Edmund Shaw, further information in respect of which was provided in the Company's announcement of 4 June 2021 which may be viewed in the following link:
https://www.londonstockexchange.com/news-article/POW/company-option-pool-proposed-ned-option-award/15005369
For further information please visit https://www.powermetalresources.com/ or contact:
Power Metal Resources plc | |
Paul Johnson (Chief Executive Officer) | +44 (0) 7766 465 617 |
SP Angel Corporate Finance (Nomad and Joint Broker) | |
Ewan Leggat/Charlie Bouverat | +44 (0) 20 3470 0470 |
SI Capital Limited (Joint Broker) | |
Nick Emerson | +44 (0) 1483 413 500 |
First Equity Limited (Joint Broker) | |
David Cockbill/Jason Robertson | +44 (0) 20 7330 1883 |
NOTES TO EDITORS
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.
Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:
Project | Location | POW % | Work Completed or Underway | Results Awaited |
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Alamo Gold Project | USA | Earn-in to 75% | Excavation of multiple test pits and mapping & sampling. | Field and assay results from on-site work programme. |
Athabasca Uranium | Canada | 100% | Data compilation across uranium properties | Interpretation results from 5 of 7 properties. |
Authier North Lithium | Canada | Earn-in to 100% | Soil & rock sampling completed | Interpretation of laboratory assay results of samples collected defining next exploration steps. |
Ditau Project | Botswana | 50% | Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals
| Field programme findings and defined drill targets for near term drilling. |
Kalahari Copper Belt | Botswana | 50% | Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas | Field programme findings and defined drill targets for near term drilling. |
Molopo Farms | Botswana | 53%A | Kavango Option to acquire an interest in local project holding company. Option fee payable through defined work programme | Results from various work activities underway as part of the Kavango Option. |
Tati Gold/Nickel | Botswana | 100% | Reverse circulation drill programme completed | Laboratory assay results awaited. |
Haneti Project | Tanzania | 35% | Diamond drill programme completed | Laboratory assay results awaited. |
Selta Uranium Rare Earth Element Project | Australia | 83.33% | Geological, geophysical and geochemical review across the project. | Findings of review including confirmation of key targets for next stage exploration. |
Victoria Goldfields | Australia | 49.9% | Diamond drill programme underway
| Field updates and Laboratory assay results awaited. |
Paterson Projects | Australia | 83.33% | Wallal passive seismic and 2D seismic processing work programme completed. Review of historical data and target generation for Ripon Hills & Braeside West projects
| Findings from multiple work programmes including final approvals and preparations for planned deep diamond drilling. |
A should Kavango exercise their option to acquire Kalahari Key, Power Metal interest would reduce to 40% of the Molopo Farms Complex project