Power Metal Resources PLC Investee Update -- First Class Metals
September 27 2021 - 10:37AM
RNS Non-Regulatory
TIDMPOW
Power Metal Resources PLC
27 September 2021
27 September 2021
Power Metal Resources PLC
("Power Metal" or the "Company")
Investee Update - First Class Metals
First Class Metals provides a Business Update for Shareholders
and Investors
Power Metal Resources PLC (LON:POW) the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio notes the Business Update released
this morning by First Class Metals Limited ("First Class").
The Business Update covers the following areas:
- Expansion of flagship Hemlo North Project
- Launch of key technical study
- Positive IPO progress
- Next steps
This announcement, and future communications from First Class,
may be viewed on their website through the following link:
https://www.firstclassmetalsplc.com/mining-news
Power Metal sold its Schreiber-Hemlo interests in Ontario,
Canada to First Class on 7.9.21 for GBP1million in First Class
shares the announcement in respect of which may be viewed through
the following link:
https://www.londonstockexchange.com/news-article/POW/sale-of-schreiber-hemlo-interests/15125039
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 and base 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.
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END
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