REG - Power Metal Res. - First Development Resources - IPO Update

Power Metal ResourcesAnnouncement

11/07/2025 12:15

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RNS Number : 7765Q  Power Metal Resources PLC  11 July 2025

11 July 2025

Power Metal Resources PLC

("Power Metal" or the "Company")

First Development Resources - IPO Update

Release of Schedule One for First Development Resources PLC

Power Metal Resources PLC (AIM: POW, OTCQB: POWMF), the London listed
exploration company with a global project portfolio is pleased to announce the
release today by AIM of a Schedule One announcement in respect of First
Development Resources PLC ("First Development") ("FDR"), a link to which is
provided below:

https://www.londonstockexchange.com/news-article/market-news/schedule-one-first-development-resources-plc/17131141
(https://www.londonstockexchange.com/news-article/market-news/schedule-one-first-development-resources-plc/17131141)

 

Sean Wade, Chief Executive Officer of Power Metal Resources PLC commented:

"I am very pleased to be able to update shareholders that the First
Development Resources IPO is now expected to complete with a listing on AIM in
the coming weeks. Market conditions have demonstrably improved of late, which
has enabled us to fulfil our commitment to shareholders by bringing this
exciting collection of assets to the market.

I am extremely grateful to Tristan Pottas and the FDR board for their
unswerving commitment to this project and congratulate them on this
achievement.

I look forward eagerly to hearing Tristan update shareholders on FDR's
immediate exploration plans and I am confident that, as we have seen in our
successful investment in Guardian Metal, he can add significant value to both
POW and FDR shareholders."

Further information in respect of Power Metal's interest in First Development
on Admission to trading on AIM, the total IPO equity placing amount, market
capitalisation and other important information, is expected to be forthcoming
in due course. POW will make further announcements as appropriate.

Shareholders wishing to learn more about First Development Resources, may
review the company's website through the following link:

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

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
 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 (mailto: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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