REG - AIM - Schedule One - Golden Metal Resources plc

Power Metal ResourcesAnnouncement

19/04/2023 09:15

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RNS Number : 6332W  AIM  19 April 2023

 

 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
 WITH RULE 2 OF THE AIM RULES FOR COMPANIES (ÒAIM RULESÓ)

 COMPANY NAME:

 Golden Metal Resources plc ("Golden Metal" or the "Company")

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :

 201 Temple Chambers

 3-7 Temple Avenue

 London, EC4Y 0DT

 United Kingdom

 COUNTRY OF INCORPORATION:

 England and Wales

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

 www.goldenmetalresources.com (http://www.goldenmetalresources.com)

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:

 Golden Metal is a mineral exploration company focused on tungsten, gold,
 copper, silver and zinc within Nevada, USA.  It was established on 22 April
 2021 as a company registered in England and Wales for the purpose of holding
 all of the Nevada mining assets of Power Metal Resources plc (AIM:POW) and
 progressing the exploration and development of those assets. The Company holds
 four mining assets comprising the wholly owned Pilot Mountain, Garfield and
 Stonewall projects together with an earn-in option over the Golconda Summit
 project (together the "Projects"). Each of the Projects consists of mining
 claims located entirely on land managed by the United States Bureau of Land
 Management.

 Pilot Mountain Project

 The Pilot Mountain project is an advanced exploration and mineral resource
 definition stage project located in Mineral County in western Nevada. The
 project covers an area of 14.80 km(2) (3,656.1 acres) and is located 200km
 southeast of Reno and 18km east of Mina, Nevada. It is well situated for the
 supply of power, water and skilled labour and proximity to transport
 infrastructure in Mineral County and is centred around four existing mineral
 deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of which
 possess significant skarn-style tungsten-copper-silver-zinc mineralisation.
 The Pilot Mountain project consists of 176 active lode mining claims and 4
 filed mill site claims. The four mill site claims filed at the former Dunham
 mill site have secure access to groundwater supply sufficient for the proposed
 project.

 Golconda Summit Project

 Golden Metal is the operator of the Golconda Summit project, which is held
 under an earn-in right to acquire up to 100 per cent. of the project from the
 mineral claim owner pursuant to an option agreement. The Golconda Summit
 project is an exploration stage gold and silver project located in Humboldt
 County and situated at the confluence of the Getchell and Battle Mountain Ð
 Eureka metallogenic trends, and consists of 44 lode mining claims, covering a
 total area of approximately 3.22 km(2) (795.4 acres) located approximately
 27km east of Winnemucca.

 Garfield Project

 The Garfield project is an early exploration stage copper, gold and silver
 property consisting of 39 lode mining claims covering 3.23 km(2) (797.9 acres)
 located in Mineral County, Nevada, approximately 14km due east of the town of
 Hawthorne and 120km due west-northwest of Tonopah.

 Stonewall Project

 The Stonewall project is an exploration stage gold-silver property prospective
 for epithermal gold-silver mineralisation. The property consists of 19 lode
 mining claims covering 1.59 km(2) (392.5 acres) located on the northern flank
 of Stonewall Mountain, on the western edge of the Nellis Airforce Range
 Restricted Access Area, in Nye County, Nevada, approximately 24km south-east
 of the historic gold mining town of Goldfield and 60km due south of Tonopah.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
 OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
 and issue price to which it seeks admission and the number and type to be held
 as treasury shares):

 Number of ordinary shares on Admission: TBC ordinary shares of £0.01 each in
 the capital of the Company ("Ordinary Shares").

 Issue Price per Ordinary Share: TBC

 Each Ordinary Share carries one vote and the right to dividends.

 There are no restrictions as to the transfer of the Ordinary Shares.

 No Ordinary Shares will be held as treasury shares on Admission.

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:

 Total capital to be raised on Admission: TBC

 Anticipated market capitalisation on Admission: TBC

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

 TBC

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

 None

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each is
 known):

 David Craig Ovadia MBE - Independent Non-executive Chairman

 Oliver Friesen - Chief Executive Officer

 Scott James Richardson Brown - Non-executive Director

 Mark Robert Burnett - Independent Non-executive Director

 Michael ("Mick") Robert Billing - Independent Non-executive Director

 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
 name by which each is known or including any other name by which each is
 known):
 Significant Shareholders   % holding of the Company before Admission  % holding of the Company after Admission
 Power Metal Resources plc  83.13                                      TBC

 

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:

 None

 (i)         ANTICIPATED ACCOUNTING REFERENCE DATE

 (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
 ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
 interim financial information)

 (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
 PURSUANT TO AIM RULES 18 AND 19:

 (1)  30 June

 (2)  31 December 2022

 (3)  31 December 2023, 31 March 2024, 31 December 2024.

 EXPECTED ADMISSION DATE:

 Early May 2023

 NAME AND ADDRESS OF NOMINATED ADVISER:

 Cairn Financial Advisers LLP

 9(th) Floor, 107 Cheapside,

 London, EC2V 6DN

 United Kingdom

 NAME AND ADDRESS OF BROKER:

 First Equity Limited

 Salisbury House

 London Wall

 London, EC2M 5QQ

 United Kingdom

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:

 A copy of the Admission Document will contain full details about the applicant
 and the admission of its securities, and will be available from the Company's
 website at: www.goldenmetalresources.com (http://www.goldenmetalresources.com)
 from Admission.

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

 QCA Corporate Governance Code

 DATE OF NOTIFICATION:

 19 April 2023

 NEW/ UPDATE:

 New

 

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

 

None

 

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:

 

(1)  30 June

 

(2)  31 December 2022

 

(3)  31 December 2023, 31 March 2024, 31 December 2024.

 

EXPECTED ADMISSION DATE:

 

Early May 2023

 

NAME AND ADDRESS OF NOMINATED ADVISER:

 

Cairn Financial Advisers LLP

9(th) Floor, 107 Cheapside,

London, EC2V 6DN

United Kingdom

 

NAME AND ADDRESS OF BROKER:

 

First Equity Limited

Salisbury House

London Wall

London, EC2M 5QQ

United Kingdom

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

 

A copy of the Admission Document will contain full details about the applicant
and the admission of its securities, and will be available from the Company's
website at: www.goldenmetalresources.com (http://www.goldenmetalresources.com)
from Admission.

 

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

 

QCA Corporate Governance Code

 

DATE OF NOTIFICATION:

 

19 April 2023

 

NEW/ UPDATE:

 

New

 

 

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