Power Metal Resources plc said it now had working capital of cash and listed investments exceeding £2 million.
The junior metal and mineral miner’s added that half of the amount – more than £1.2 million – had been raised from warrant exercises since August 2020.
The money put the company in a “robust financial position” said chief executive Paul Johnson.
“Power Metal is currently on track or ahead of all corporate and exploration programme costs and has no debt.
“As we enter 2021 our strong financial position will enable us to keep extensive exploration activities running across the company.”
Power Metal’s issued share capital comprises 934,759,342 ordinary shares of 0.1p each.
The company has a total of nine projects in the Botswana (three), Cameroon, the DRC, Tanzania, Australia, Canada and the United States covering gold, rare earths, copper, silver, nickel sulphide, PGMs, cobalt and nickel.
The group was first listed as Sula Iron & Gold plc, then African Battery Metals plc from January 2018, before the name changed to Power Metal Resources plc in June 2019.
Paul Johnson and Andrew Bell (chairman and CEO of Red Rock Resources) joined the board as chief executive and chairman respectively in January 2019.