Power Metal Resources plc has signed a binding £2 million subscription as loan notes with a possible further £10m initial investment for a proposed Canada uranium joint venture. DISCUSSIONS Through its local subsidiary, the company holds 16 properties over a combined 92,407ha (924.07km2), surrounding and within the Athabasca Basin in northern Saskatchewan. The investment follows Power […]
Tag: Uranium Energy Exploration plc
Power Metal mulls assets merger for uranium investors
Power Metal Resources plc might combine its uranium licences with some of its other assets to secure an investment agreement. OPTIONS The company, currently preparing Uranium Energy Exploration plc for listing, said it had seen interest from institutional, high-net worth and retail investors in the UK and elsewhere, “including a potential cornerstone investor”. “However, a number of significant […]
Teathers changes name to Uranium Energy Exploration
Teathers Financial Ltd has changed its name to Uranium Energy Exploration plc. Companies House recorded the change effective on 8 March 2024. The directors remain the same as Alexander Barblett, accountant Mario Visconti and Power Metal Resources plc chief executive Sean Wade. Power Metal previously conditionally sold two of its Athabasca uranium properties, Reitenbach and […]
Power Metal uranium subsidiary raises £421,500
Power Metal Resources plc uranium-focused subsidiary has completed a pre-IPO financing of £421,500 for its planned listing during the first half of 2024. EXPECTATIONS Teathers Financial plc, to be renamed as Uranium Energy Exploration plc (UEE), raised the funds at 1.241135p per Teathers new ordinary share. It conditionally acquired the Reitenbach and E-12 Uranium properties in 2022 […]
Power Metal finds ‘significant’ uranium anomalies
Power Metal Resources plc reported “significant” uranium prospectivity and refinement of drill targets from radon gas sampling at two of its properties at Athabasca basin, Saskatchewan. LARGE TARGET During the 2023 field season at the Tait Hill’s Mullis Lake target, the company found “very significant uranium” anomalies of up to 164ppm in soil. The deposits are […]
Power Metal extends uranium assets into Athabasca
Power Metal Resources plc has extended its uranium portfolio to within the Athabasca Basin ahead of beginning its largest exploration campaign in Saskatchewan. PERCH RIVER The two-year Perch River licences, covering 39.41km2, lie less than 10km from the northern Athabasca basin edge and are covered by Athabasca sandstone to an estimated depth of 50 to 200m. A […]