RCS - Power Metal - Investee Update – First Class Metals

Power Metal ResourcesAnnouncement

27/09/2021 15:40

RNS Number : 1124N
  
Power Metal Resources PLC
  
27 September 2021
  
 

27 September 2021
Power Metal Resources PLC
("Power Metal" or the "Company")
Investee Update - First Class Metals
First Class Metals provides a Business Update for Shareholders and Investors
 
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes the Business Update released this morning by First Class Metals Limited ("First Class").
The Business Update covers the following areas:
-      Expansion of flagship Hemlo North Project
-      Launch of key technical study
-      Positive IPO progress
-      Next steps
This announcement, and future communications from First Class, may be viewed on their website through the following link:
https://www.firstclassmetalsplc.com/mining-news
Power Metal sold its Schreiber-Hemlo interests in Ontario, Canada to First Class on 7.9.21 for £1million in First Class shares the announcement in respect of which may be viewed through the following link:
https://www.londonstockexchange.com/news-article/POW/sale-of-schreiber-hemlo-interests/15125039
 
For further information please visit https://www.powermetalresources.com/ or contact:



Power Metal Resources plc








Paul Johnson (Chief Executive Officer)


+44 (0) 7766 465 617














SP Angel Corporate Finance (Nomad and Joint Broker)








Ewan Leggat/Charlie Bouverat


+44 (0) 20 3470 0470














SI Capital Limited (Joint Broker)








Nick Emerson                                                                                                           


+44 (0) 1483 413 500














First Equity Limited (Joint Broker)








David Cockbill/Jason Robertson


+44 (0) 20 7330 1883



 

 
NOTES TO EDITORS
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries. 
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious and base metal exploration in North America, Africa and Australia. 
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work. 
Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
 

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