Power Metal Resources plc will invest £4 million in a new mining royalty company, and receive a share in its original acquisition of the Pilot Mountain tungsten project in Nevada. PORTFOLIO The company signed a binding agreement to subscribe in Apex Royalties Ltd, which will also give returns from projects across commodities and jurisdictions. Power Metal’s […]
Tag: Power Metal Resources plc
First Development plans gold surveys at Selta
First Development Resources plc plans airborne and ground surveys on “multiple prospective gold targets” at its Selta project in the Aileron Province of Northern Territory, Australia. DRILLING The company said that the gold targets, identified from historical reports and data, were associated with the continuation of the “regionally significant” Stafford gold trend, hosting gold and […]
FDR completes difficult drilling phase at Wallal
First Development Resources plc has drilled the “most technically difficult phase” in the first drill hole at the Wallal gold-copper project in Paterson Province, Western Australia. PROJECTS The explorer, currently 44.34% owned by Power Metal Resources plc, is targeting the 2.5km by 2.5km eastern magnetic bullseye anomaly, which one of three on the acreage. The […]
Power plans investor returns via capital reduction
Power Metal Resources plc plans a capital reduction programme aimed at creating “sufficient distributable reserves” to return capital, through share buybacks or dividends, to its shareholders. FLEXIBILITY The company said that the “normal course” action was “highly desirable” to give it the “maximum flexibility” to return value to its investors. Power Metal added: “The company will, […]
Power Metal JV advances uranium exploration
Power Metal Resources plc has advanced exploration work, with some mixed results, on its joint venture uranium licences in Labrador and Northern Saskatchewan in Canada. DIVERSITY Operating as Fermi Exploration Ltd, the JV comprises 18 properties in and around the Athabasca Basin in Saskatchewan, covering an aggregate 109,375.74 hectares (1,093.76km2). In Labrador, the sole licence of […]
Power invests in ‘first’ DeFi for early-stage mining
Power Metal Resources plc has agreed to invest up to £3 million for up to 49% of the “first”, “institutional-grade, blockchain-enabled decentralised finance (DeFi) tokenisation platform” to fund early-stage mining projects. COMPLIANCE Kingia FZCO, based in a Dubai Freezone, will be renamed Minestarters and target institutional and retail investors. Freezones are economic zones which offer […]