First Development Resources plc has raised £1 million through an over-subscribed discounted placing of 33,333,333 new ordinary shares of one pence each in the company. TVRs The issue price of three pence per placing share is an 8% discount from the middle close market price of 3.25p as at the close of business on 24 […]
Tag: Wallal project
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 […]
First Development begins trading
First Development Resources plc, a spin-out of Power Metal Resources plc, began trading today on AIM. INTERESTS On admission, Power Metal will hold 43.44% of the Australian-focused company’s issued share capital. First Development owns three prospective copper-gold projects of Wallal, Ripon Hills & Braeside West in the Paterson Province, Western Australia. The company also holds the Selta […]
Power Metal’s Australia subsidiary nears listing
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 […]
Power Metal heritage survey clears site drilling at Wallal
Power Metal Resources plc has received approval to start site drilling at the Wallal gold-copper project in the Paterson Province of Western Australia. HERITAGE CLEARANCE The company’s interests in projects in the area are held through its 62.12% subsidiary First Development Resources plc (FDR), which is due to be soon listed in the London capital markets. Wallal is one […]