31 Mar 2020 12:36
31 March 2020
Power Metal Resources plc ("POW" or the "Company")
Katoro Gold Update
Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to draw investors' attention to the announcement issued today by Katoro Gold plc (LON: KAT)("Katoro Gold" or "Katoro").
The announcement may be viewed through the following link:
https://polaris.brighterir.com/public/katoro_gold/news/rns/story/ry832kw
Power Metal Resources holds 10,000,000 Katoro shares which represents 4.7% of Katoro Gold's current issued share capital. In addition, POW also holds 10,000,000 warrants in Katoro Gold exercisable at 1.25p (2,500,000 warrants expiring on 15 March 2022 and 7,500,000 warrants expiring on 15 May 2022).
POW also has a 25% interest in Katoro's Haneti polymetallic project in Tanzania, with a right to increase its interest to 35% by a payment to Katoro of £25,000 in cash by 15 May 2020.
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 | +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 and development company exploring for the key metals used in power generation, transmission, storage and utilisation. The Board and team of advisors, who have proven expertise in exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the power metal commodity suite, particularly cobalt, lithium, copper and nickel.
Power Metal (POW)