RCS - Power Metal Res. - Agreement with Jasper Consult

Power Metal ResourcesAnnouncement

03/07/2023 07:00

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RNS Number : 6468E  Power Metal Resources PLC  03 July 2023

3 July 2023

Power Metal Resources PLC

("Power Metal" or the "Company")

Agreement with Jasper Consult Opens Opportunities in Saudi Arabia and Oman

 

Power Metal Resources PLC (LON:POW), the AIM listed metals exploration and
development company, announces the initiation of a consulting agreement with
Jasper Consult DMCC ("Jasper Consult"), a London and Dubai based strategic
consultant with extensive expertise in the Kingdom of Saudi Arabia and Oman
(the "region").

As part of Power Metal's established strategy to invest in highly prospective
projects, and with the Kingdom of Saudi Arabia's 2030 Vision strategy in
place, the Power Metal board believes that the relationship with Jasper
Consult creates an opportunity for the Company to potentially build a new
exploration asset base in the region.

Through a phased approach, the key objectives of Jasper Consult will be to:

·    Identify relevant exploration and development opportunities

·    Support the Company in the negotiation of the award of exploration
licences

·    Identify and secure appropriate co-development partners

·    Support the Company in the longer term as it builds its presence in
the region

·    Identify and help secure strategic partners for Power Metal

Power Metal has existing in-house experience of working in the region and
plans to build a technical team dedicated to developing this opportunity.

 

Sean Wade, Chief Executive Officer of Power Metal Resources plc, commented:

"I am very pleased to announce this new relationship with Jasper Consult, and
very excited about the opportunity we have to establish a presence in both
Saudi Arabia and Oman. The Arabian Shield geological trend is a rich mineral
system which is vastly underexplored, presenting an excellent opportunity for
us to demonstrate our successful business model. By utilising the regional
expertise of Jasper Consult, we hope to secure exploration licences and
further crystallise value for shareholders. I look forward to updating
shareholders on this important new step for the Company."

For further information on Jasper Consult see https://www.jasper-consult.com/

For further information please visit https://www.powermetalresources.com/
(https://www.powermetalresources.com/) or contact:

 Power Metal Resources plc
 Sean Wade (Chief Executive Officer)                                             +44 (0) 20 3778 1396

 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

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

 

 BlytheRay (PR Advisors)                            +44 (0) 20 7138 3204
 Tim Blythe
 Megan Ray

 

 

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration
company which finances and manages global resource projects.

The Company has a principal focus on opportunities offering district scale
potential across a global portfolio including precious, base and strategic
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 grow the
Company, or may be returned to shareholders through share buy backs, dividends
or in-specie distributions of assets.

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