REG - Power Metal Res. - First Development Resources First Day of Dealings

Power Metal ResourcesAnnouncement

29/07/2025 07:15

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RNS Number : 9635S  Power Metal Resources PLC  29 July 2025

29 July 2025

Power Metal Resources PLC

("Power Metal" or the "Company")

First Day of Dealings for First Development Resources

Power Metal Resources PLC (AIM:POW), the London-listed exploration company
with a global project portfolio, is pleased to announce that First Development
Resources PLC ("FDR") will commence trading on AIM at 8:00am today, under the
ticker FDR.

As part of the admission to trading on AIM ("Admission"), FDR raised gross
proceeds of £2.3 million. On Admission, FDR will have a market capitalisation
of £7.06 million, and Power Metal will hold 43.44% of FDR's issued share
capital.

Sean Wade, CEO of Power Metal Resources, commented:

"I am thrilled to notify our shareholders that First Development Resources has
successfully been admitted to trading on London's AIM market.

"This achievement is testament to the dedication and hard work of Tristan
Pottas and the whole FDR team, and I look forward to seeing future market
updates from the company as it progresses its highly prospective exploration
assets, now with access to a world-leading market and potential investor base.

"The listing of FDR is another successful case study for our business model,
and serves as further validation of our ability to identify, develop and
crystallise the value of promising mineral assets."

Shareholders wishing to learn more about First Development Resources, may view
the company's website through the following link:
www.firstdevelopmentresources.com (http://www.firstdevelopmentresources.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 LLP (Nomad and Joint Broker)
 Ewan Leggat/Jen Clarke                                   +44 (0) 20 3470 0470

 Tamesis Partners LLP (Joint Broker)
 Richard Greenfield/Charlie Bendon                        +44 (0) 20 3882 2868

 BlytheRay (PR Advisors)
 Tim Blythe/Alastair Roberts                              +44 (0) 20 7138 3204
                                                          powermetalresources@blytheray.com

NOTES TO EDITORS

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-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, Saudi
Arabia, Oman 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.

 

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