Metals & Minerals News

Power Metal completes uranium JV

Power Metal Resources plc has completed the formation of a uranium-focused joint venture involving all its uranium licences, with UCAM Ltd. MODEL The company’s Saskatchewan portfolio includes Perch River; Tait Hill; Cook Lake; Reitenbach; Thibault Lake; Clearwater; Soaring Bay; E12; and the most recently acquired Drake Lake – Silas in Newfoundland and Labrador. Airborne electromagnetic surveys are pending for […]

Finance Metals & Minerals News

Power Metal plans Canada uranium JV

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 […]

Finance Metals & Minerals News

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 […]

Company Moves Metals & Minerals News

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 […]

Finance Metals & Minerals News

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 […]

Equipment & Logistics Metals & Minerals News

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 […]