Power Metal Resources plc’s uranium portfolio partner has become the largest shareholder in spin-out Guardian Metal Resources plc after signing a legally binding sale and purchase agreement. INVESTOR Announced earlier this month, UCAM Ltd has bought from Power Metal 29,758,334 shares in tungsten-focused Guardian and warrants over 986,352 ordinary shares for £9,225,083.91 before costs. UCAM now holds 23.45% […]
Tag: Power Metal Resources plc
Fermi acquires Fortin River uranium project
Power Metal Resources plc’s uranium joint venture, Fermi Exploration, has acquired the Fortin River project in northern Saskatchewan, Canada. MOMENTUM The company said that preliminary geophysical data indicated the potential presence on the 3,859 hectares (38.59 km2) site of a 1.7 km wide meteor impact crater. Power Metal noted that such targets were known for unconformity-related uranium mineralisation elsewhere […]
Power Metal JV notes uranium target at Tait Hill
Power Metal Resources plc’s uranium joint venture, Fermi Exploration, has identified a “significant intrusion-related’ target at the Tait Hill property just outside the Athabasca Basin in Saskatchewan, Canada. PROMISING Results from sampling by the JV with UCAM Ltd confirmed a “well defined” 1km by 500m target, the ‘Antler Zone’, initially identified from historical survey data. […]
31 Explore acquired by Katoro Gold
Darlington-based ‘mineral exploration project generator’ 31 Explore Ltd has been acquired by Tanzania-focused Katoro Gold plc for 750 million warrants, under a heads of terms agreement. POWER METAL Katoro’s non-executive chairman Sean Wade, who is also chief executive of Power Metal Resources plc which holds 35% of Katoro, beneficially owns 14.29% of 31 Explore. Incorporated […]
Power Metal to sell 30m Guardian shares
Power Metal Resources plc plans to sell 29,758,334 of its shares and warrants over 986,352 ordinary shares of £0.01 each in Guardian Metal Resources plc to its uranium joint venture partner for £9,225,083.91. INCUBATOR The agreement is in principle with UCAM Ltd, which needs to complete a fundraise, and subject to administrative processes and a legally binding […]
Power Metal finds new copper locations in Oman
Power Metal Resources plc’s exploration fieldwork has returned “very significant” copper results at its proposed 12.5% earn-in on Block 8 in the Hazm area, northwest Oman. AL MAIDAR The concession is held by Australian-listed Alara Resources Ltd and Awtad Copper LLC. A review of historical technical, geophysical and geological data has pinpointed an initial five target areas on […]