Power Metal Resources plc has completed the sale to First Class Metals Ltd (FCM) of its 100% owned Schreiber-Hemlo interests in Ontario, Canada.
WORKING CAPITAL
Power Metal chief executive Paul Johnson said that the transaction was the first completed corporate disposal/spin-out for the company which would hold a significant interest in FCM.
“Our corporate disposal/spin-out developments have the potential to dramatically build our working capital and provide considerable financial backing to our significant exploration ambitions across the portfolio.”