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RNS Number : 5414X Power Metal Resources PLC 05 January 2022
05 January 2022
Power Metal Resources plc ("Power Metal" or the "Company")
Director Dealing
Power Metal Resources plc (LON:POW) the London listed exploration company
seeking large-scale metal discoveries across its global project portfolio
announces that today, Paul Johnson, Chief Executive Officer of the Company
purchased 1,000,000 ordinary shares of 0.1 pence each in the Company
("Ordinary Shares") at a price of 1.65p per Ordinary Share through his
Self-Invested Personal Pension ("SIPP") (£16,500 invested).
Following the above purchase Mr Johnson has a beneficial interest in a total
of 76,000,000 Ordinary Shares, representing approximately 5.27% of the issued
share capital of the Company.
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
1. Paul Johnson
2 Reason for the notification
a) Position/status
1. Chief Executive Officer
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
1. Purchase of Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1.65p 1,000,000
d) Aggregated information
- Aggregated volume 1,000,000
- Price 1.65p
e) Date of the transaction 5 January 2022
f) Place of the transaction XLON
Certain information contained in this announcement would have been deemed
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 (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.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results
awaited, as outlined below:
Project Location POW % Work Completed or Underway Results Awaited
Alamo Gold Project USA Earn-in to 75% Excavation of multiple test pits and mapping & sampling. Field and assay results from on-site work programme.
Authier North Lithium Canada Earn-in to 100% Soil & rock sampling completed Laboratory assay results of samples collected
Ditau Project Botswana 50% Preparatory exploration work underway on target I10 leading to planned Field programme findings and defined drill targets for near term drilling.
accelerated drilling targeting rare-earth elements and base metals
Kalahari Copper Belt Botswana 50% Exploration programme underway across the South Ghanzi Project and further Field programme findings and defined drill targets for near term drilling
exploration at the more recently acquired South Ghanzi Extension and Mamuno
licence areas
Molopo Farms Botswana 53%(1) Kavango Option to acquire an interest in local project holding company. Results from various work activities underway as part of the Kavango Option
Option fee payable through defined work programme
Tati Gold/Nickel Botswana 100% Reverse circulation drill programme completed Laboratory assay results awaited
Victoria Goldfields Australia 49.9% Ongoing exploration across 848km(2) of granted exploration licences Results from field programme including drill programme underway
Wallal Gold/Copper Project Australia 83.33%(2) Passive seismic and 2D seismic processing work programme completed Results awaited
(1) should Kavango exercise their option to acquire Kalahari Key, Power Metal
interest would reduce to 40% of the Molopo Farms Complex project
(2) assuming all licences held by URE Metals Pty Limited are granted as
outlined in the Company's announcement of 19.11.21 resulting in the issue of
First Development Resources Ltd shares to URE vendors
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