REG - Power Metal Res. - Directorate Change

Power Metal ResourcesAnnouncement

16/01/2024 07:00

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RNS Number : 7565Z  Power Metal Resources PLC  16 January 2024

16th January 2024

Power Metal Resources plc

("Power Metal" or the "Company")

Directorate Change

Power Metal Resources plc (AIM:POW), the London listed exploration company
with a global project portfolio, announces a board change.

Owain Morton, Non-executive Director, will step down from the board with
immediate effect due to other work obligations as outlined below.

Mr Morton took up the role of Non-executive Director with the Company in
October 2022 and subsequently in July 2023 as Director - Technology and
Innovation at Ma'aden in Saudi Arabia. Reflecting this new role Mr Morton is
unable to continue as Non-executive Director with the Company.

The Board is currently considering a number of outstanding candidates to join
the Power Metal Board and further announcements are expected to be made in due
course.

 

Scott Richardson-Brown, Chairman of Power Metal Resources plc, commented:

"As a Board, we are sad to see Owain step down, but of course fully understand
that his new role necessitates this. Owain has become a firm friend of the
business and we wish him well in a region where Power Metal also shares strong
ambitions.

Recognising the growth in Power Metal, and with a number of what we consider
to be strategically key developments pending, we have been working to further
enhance the Board of the Company.  To this end we have been engaged in
discussions with highly influential candidates for Board roles and hope to
make further announcements in this regard as soon as possible."

 

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 (AIM: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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