Power Metal Resources plc expects to complete the listing in the coming weeks of its 2021 Australia acquisition held in First Development Resources plc.
ASSETS
FDR owns three prospective copper-gold projects of Wallal, Ripon Hills & Braeside West in the Paterson Province, Western Australia.
The company also holds the Selta uranium and rare earth elements project in the Northern Territory and has plans to expand.
FDR’s board comprises chairman Michael Moore, chief executive officer Tristan Pottas, non-executive director Luke Cairns and finance director Ben Hodges.
Power Metal currently holds a 58.6% interest in FDR and will retain 40% after the listing.
“Market conditions have demonstrably improved of late, which has enabled us to fulfil our commitment to shareholders by bringing this exciting collection of assets to the market,” said Power Metal CEO Sean Wade.
“I am extremely grateful to Tristan Pottas and the FDR board for their unswerving commitment to this project and congratulate them on this achievement.”