REG - Power Metal - Appointment of Non-Executive Director

Power Metal ResourcesAnnouncement

10/10/2022 12:15

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RNS Number : 3620C  Power Metal Resources PLC  10 October 2022

10 October 2022

Power Metal Resources PLC

("Power Metal" or the "Company")

Appointment of Non-executive Director

Power Metal Resources PLC (LON:POW), the London listed exploration company
seeking large-scale metal discoveries across its global project portfolio
announces the appointment of Owain Morton as a Non-executive Director of the
Company with immediate effect.

Mr Morton, based in the UK, is an Associate Partner - Mining & Metals SME
with IBM providing multi-sector business services and technology consulting.

His previous roles have included: Technology & Innovation Manager for
Glencore Global; Technical Strategy and Risk Management & Operations
Excellence Manager for ArcelorMittal Mining and Principal Engineer for Barrick
Gold Saudi Arabia.

Mr Morton holds a Bachelor of Engineering Honours degree in Mineral Surveying
& Resource Management and a Master of Science degree in Mining
Engineering, both from the University of Exeter/Cambourne School of Mines.

 

Paul Johnson, Chief Executive Officer of Power Metal Resources commented:

"I would like to welcome Owain to the Power Metal team and very much look
forward to working with him as we seek to continue the advancement of our
business.

We have been focused on strengthening the Power Metal Board with enhanced
geological and technical skillsets able to guide future development of the
Company from the acquisitive recent years into more advanced exploration and
corporate value crystallisation.

Owain's extensive experience and input will be of great benefit to the Company
at what is a key and critical point in our development.

Power Metal is the embodiment of its people, their ideas and their work. We
have a unique and talented team and I am particularly pleased with what we
have achieved to date and very much focused on the delivery of distinct,
material and realisable value for shareholders."

Regulatory Disclosures:

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Owain David
Morton, aged 41:

  Current directorships and/or partnerships:   Former directorships and/or partnerships (within the last five years):

 IOLA & EFFI LTD                               NONE

 IOLA & EFFI GMBH

 

Mr Morton does not hold any shares in Power Metal.

Mr Morton has confirmed there is no further information to be disclosed
pursuant to paragraph (g) of Schedule 2 of the AIM rules.

As part of Mr Morton's employment contract Mr Morton has been issued with
Power Metal share options, namely, 5 million options to subscribe for new
Power Metal ordinary shares of 0.1p each at an exercise price of 3.25 pence
with a life to expiry of 3 years from today (the "Director Options"). The
Director Options are subject to a minimum service period of 6 months and may
not be exercised until the volume weighted average price of Power Metal shares
trades at 5.0 pence for ten consecutive trading days.

PDMR Disclosure

 

The notifications below, made in accordance with the requirements of the EU
Market Abuse Regulation, provide further detail on the director's share
dealing.

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name

                                                                   Owain Morton

 2    Reason for the notification

 a)   Position/status

                                                                   Non-executive Director

 b)   Initial notification /Amendment

                                                                   Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name

                                                                   Power Metal Resources Plc

 b)   LEI

                                                                   213800VNXOUPHTX53686

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  ordinary shares of 0.1p each

      Identification code                                          ISIN: GB00BYWJZ743

 b)   Nature of the transaction

                                                                   Issue of Options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     3.25p             5,000,000

 d)   Aggregated information

      - Aggregated volume                                          5,000,000

      - Price                                                      3.25p

 e)   Date of the transaction                                      10 October 2022

 f)   Place of the transaction                                     Off Market

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

For further information please visit https://www.powermetalresources.com/
(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 - Background

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, 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 drive the
Company's growth or may be returned to shareholders through share buy backs,
dividends or in-specie distributions of assets.

 

Exploration Work Overview

 

Power Metal has internal exploration programmes completed or underway, with
results awaited, as outlined in the table below.

 

 Project                Location  Current          Work Completed or Underway                                                     Results Awaited

                                  POW %

 Athabasca Uranium      Canada    100%             Ground exploration programme complete at 3 properties.  Preliminary planning   Assay result from samples collected during fieldwork.
                                                   for work in Spring/Summer 2023 is ongoing.
 Authier North Lithium  Canada    Earn-in to 100%  Property Evaluation Report completed.                                          Update covering exploration plans for target areas identified during the
                                                                                                                                  Evaluation.
 Molopo Farms           Botswana  53%(#)           T1-6 conductor target drilling underway and MLEM surveys over T1-6, T1-14,     Drill programme updates and findings from further MLEM survey work.
                                                   T1-3 and T2-3 completed. Further MLEM surveys planned over additional AEM
                                                   targets identified.
 Tati Project           Botswana  100%             RC drilling and sampling of mine dumps complete.                               Review of mine dumps sampling and results from RC drill programme.

(#) subject to completion of acquisition announced 18.5.22 interest will
increase to 87.71%

 

Exploration work programmes may also be underway within Power Metal investee
companies and planned IPO vehicles where Power Metal has a material interest,
the findings from which will be released on their respective websites, with
simultaneous updates through Power Metal regulatory announcements where
required.

 

These interests are summarised in the table below:

 

 Company                          Status/Operations                                                           Link
 First Class Metals PLC           Investment - POW 28.19%                                                     www.firstclassmetalsplc.com (http://www.firstclassmetalsplc.com)

                                  Exploration in the Schreiber-Hemlo region of Ontario, Canada
 First Development Resources PLC  Planned IPO - POW 62.12%                                                    www.firstdevelopmentresources.com (http://www.firstdevelopmentresources.com)

                                  Exploration in Western Australia and the Northern Territory of Australia
 Golden Metal Resources PLC       Planned IPO - POW 83.13%                                                    www.goldenmetalresources.com (http://www.goldenmetalresources.com)

                                  Exploration and development in Nevada, USA
 Kavango Resources PLC            Investment - POW 14.03% (subject to completion of Kanye Resources disposal  www.kavangoresources.com (http://www.kavangoresources.com)
                                  announced 8.7.22)

                                  Exploration in Botswana
 New Ballarat Gold PLC            Planned IPO - POW 49.9%                                                     A new website is currently in development which will be found at

                                                                           www.newballaratgoldcorp.com (http://www.newballaratgoldcorp.com) .
                                  Exploration in the Victoria Goldfields of Australia

                                                                                                              In the interim further information in respect of NBGC can be found at:

                                                                                                              https://www.powermetalresources.com/project/victoria-goldfields/
                                                                                                              (https://www.powermetalresources.com/project/victoria-goldfields/) .

 Uranium Energy Exploration PLC   Planned IPO - POW on listing estimated 40-55%                               www.uraniumenergyexploration.com (http://www.uraniumenergyexploration.com)

 

 

 

 

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