Power Metal Resources plc has completed initial field exploration on the Balthaga lithium project 450km east of Jeddah in the southeast of the Arabian Shield. GEOLOGY A total of 43 in-situ rock chip samples were taken from targets visited while new areas were identified during the seven-day programme over more than 1,200 km2. The programme is included in the […]
Tag: Saudi Arabia
Power Metal completes 75% acquisition of GSAe
Power Metal Resources plc has completed its 75% acquisition of secondary source extraction company GSA (Environmental) Ltd (GSAe), following February’s heads of terms. SAUDI ARABIA The company said that GSAe currently had two memoranda of understanding with Saudi Arabian supplies of vanadium and nickel-bearing fly ash. Advanced research will soon begin on plant design, construction, commissioning […]
Power Metal signs non-binding MoU with Saudi Arabia
Power Metal Resources plc has agreed a non-binding memorandum of understanding with Saudi Arabia for potential exploration projects in the country. TECHNICAL The MoU was signed with the Ministry of Investment of the Kingdom of Saudi Arabia (MISA) at the recent Future Minerals Forum in Riyadh. Both parties will explore the possibility of a joint collaboration for “high value-added” investment […]
Power Metal looks to Saudi Arabia-Oman potential
Power Metal Resources plc has signed a consulting agreement with Jasper Consult DMCC potentially to build a new exploration asset base in Saudi Arabia and Oman. PHASES The London and Dubai-based strategic consultant, with “extensive expertise” in both countries, will aid the junior company establish a presence through a phased approach. Power Metal said that the deal […]
Caerus drops Saudi Arabia option for Morocco
Caerus Mineral Resources plc has turned down a battery metals option in Saudi Arabia in favour of an 80% acquisition of a local exploration company in Morocco. JURSIDICTION At today’s general meeting, executive chairman Chris Lambert said that shareholder EV Metals Group’s subsidiary in Saudi Arabia would have drained Caerus’ resources due to the early […]
Caerus signs sale of Cyprus copper-gold assets
Caerus Mineral Resources plc has signed the share purchase agreement (SPA) for the sale of its copper-gold subsidiaries in Cyprus. TERMS The transaction includes payment in cash from purchasers PM Ploutonic Metals Ltd and Indo-European Mining PR Ltd to Caerus of US$528,001 in stages. Closing of the deal will occur once Caerus has received the first […]