Power Metal Resources plc said the grant of licences was imminent for its rare earth element-uranium Selta project in the Northern Territory, Australia. LICENCES Selta is held within URE Metals Pty Ltd, an Australian private company and wholly owned subsidiary of First Development Resources Ltd (FDR) in which Power Metal currently holds a 96.15% interest. Power Metal said that […]
Tag: Power Metal Resources plc
Power Metal encouraged by inaugural drill at Haneti
Power Metal Resources plc said it was encouraged by the technical and geological success of its first diamond drill programme on the nickel-copper-cobalt-platinum group element Haneti project in central Tanzania. PROGRAMME The joint venture (JV) between Katoro Gold plc (65%) and Power Metal (35) drilled 900.04 metres across three holes. Operator Katoro has started core logging and […]
Power Metal receives £37,500 in warrant exercise
Power Metal Resources plc has raised £37,500 after receiving notice to exercise warrants over 5,000,000 new ordinary shares of 0.1 pence each in the company at an exercise price of 0.75p.
Power Metal mulls sale of Reitenbach at Athabasca
Power Metal Resources plc said it was reviewing strategies, including a sale, for its Reitenbach uranium property at Athabasca in northern Saskatchewan, Canada. STRATEGY The company has also recruited a uranium-focused team member to advance its interests. Reitenbach (146km2) is one of Power Metal’s seven 100% owned interests in its Athabasca portfolio covering a total […]
Power Metal raises £25,000 in options exercise
Power Metal Resources plc raised £25,000 following notice to exercise options by a former director over 2,500,000 new ordinary shares of 0.1 pence each in the company. The option shares were exercised at a price of 1.0 pence per new ordinary share.
Power Metal starts drilling at Haneti
Power Metal Resources plc has started its inaugural 1,000 metre diamond drill programme on the nickel-copper-cobalt-platinum group element (PGE) joint venture (JV) Haneti project in central Tanzania. PROGRAMME The JV, comprising Power Metal (35%) and Katoro Gold plc (65%), renewed the Haneti licences for a further seven years before the start of drilling. The programme comprises three […]